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Supplier payments - banking information

  • August 6, 2026
  • 1 reply
  • 5 views
T
Sidekick (Customer)
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Hello,

 

Does IFS Cloud (25R1) have the ability to capture details for supplier payment creation such as:

  1. Beneficiary Bank city and country? When creating the payment output file, some banks require this. The SWIFT/BIC Code is available in the EFT Payment Addresses but that’s about it. 
  1. Some countries/currencies also require a reporting code. Where is that captured.
  2. For international payments, quite often intermediary banks can be part of the payment process. Where/how is the intermediary bank information captured so it can be pulled through to the payment output file.

 

Thank you!!

Naren

      1 reply

      T
      Superhero (Employee)
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      Hi,

      IFS uses a concept of payment method / payment formats. The payment method is user defined and is then connected with a payment format. The payment format drives the data requirements and set up, for the payment process. 

      The payment formats are essentially a list of globally used payment types. What payment format to use if driven by country and bank.  For example, what is used in Brazil, is very different from what may be used in Australia. 

      For that reason, the answers to the questions are 100% dependent on the payment format. ISO20022 is very different from BACS (as an example). ISO20022 has options, set up screen, and other that is different from other payment formats. 

      See payment formats and what is used for a given company.   

      Normally during an implementation your consultant would help to determine what payment formats to use for what suppliers and what companies.   The bank in many cases may drive a given decision, as in some countries, the bank may or may not support a given format. 

      I know that’s not what you're looking for in terms of an answer, but yes, IFS can have that data, and set up, but it really depends on the payment format. 

      Best regards, 

      Thomas

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