Create SEPA payments

Use the Create SEPA payments option to process the payments that are pending in the Selected payments section. The process results in a payment instruction in the form of an XML file. Isah Finance also registers the processed payments as 'in-transit payments', provided that you have configured in-transit payments.

Tip: The Create SEPA payments button is available only if all changes have been saved, the cursor is located in the Selected payments window, and all required fields have been filled in.

Clicking the Create SEPA payments button will start the wizard that will lead you through the required forms. On each form, check all the data that Isah Finance has retrieved from the payment settings. Most data, including the day book and the payment date, can be changed as you go through the wizard steps. If any basic data are missing, such as the creditor's IBAN, you should abort the process, update the relevant data in your accounts, and then restart the Create SEPA payments process. The wizard uses the bank day book to establish the IBAN and the bank format of the payment.

Note: If a potential problem with the payment is detected on any of the forms, a message will appear. You cannot proceed to the next form until you have resolved the problem, or until you have closed the message, indicating that you are deliberately ignoring the warning.

Select a day book for the bank in which you want to register the payment. Make sure that the bank has the corresponding IBAN and BIC filled in.

If you enter the day book you intend to use for the payments, the data relating to this day book will appear in the other fields under Selected Payments.

The payment date is listed for the payment order and is used in combination with the period in order to record ‘Suspended Payments.’

The description you enter here will appear in the Payment Notifications field for all payments included in this transaction. The descriptions of individual payments are placed behind this general description, separated by a '/'.

If the Summarize payments option is enabled, Isah Finance will try to merge the payments wherever possible. The payment references of merged payments are concatenated, separated by a forward slash (/).

Payments are merged only if they relate to:

The same debtor
The same bank account

The merge process cannot result in a negative posting.

Note: Isah Finance converts all payments into euros. Payments in different currencies (with the same debtor and bank account) are also merged.

Credit notes

You can also use the Merge payments option to process credit notes. Any credit notes can be sent along with any invoices from the same company. As long as the amount of the credit note does not exceed the amount of the regular invoice, Isah Finance will merge the entries and transfer the balance to the company in question. For this to happen, however, you do need to enable the Merge payments option.

The payments must have a valid IBAN, a Payment reference and a Payment message. To see a print preview of the payment, select the Print preview check box.

When payments have been merged, the descriptions in the Payment reference and Payment message fields may become too long, because Isah Finance concatenates the individual descriptions of the merged payments. At the bottom of the window you can modify the descriptions.

This window shows a summary of the payment. The SEPA XML export path must contain a valid value, otherwise Isah Finance cannot create the required XML file. The wizard uses the setting specified on the Other form. If you selected the print preview option on the previous form, the print preview is displayed here.

Tip: Copy the path to the XML file, so you can paste it directly into your bank portal.

You can find information about the entry under In-transit payments. If a ledger account for in-transit payments has been entered, the corresponding day book must be filled in. You can find the day book in the In-transit payments field in the day book settings.

Click Finish to create the payments. If necessary, click the Previous button to go back to a previous step.

Note: If there are any payments with negative amounts as a result of credit invoices, a message will be displayed informing you that the payment was executed only for credit invoices with positive amounts. If the total amount of the payment batch is negative, a message will appear saying that no payments were executed.