SEPA is supported by the banks of the 28 EU member states as well as Iceland, Norway, Switzerland, Andorra, Monaco and San Marino.
With Odoo, once you decide to pay a vendor, you can select to pay the bill with SEPA. Then, at the end of the day, the manager can generate the SEPA file containing all bank wire transfers and send it to the bank.
By default,the file follows the SEPA Credit Transfer ‘pain.001.001.03’ specifications. This is a well-defined standard that makes consensus among banks. However, according to the country set on your company, another format can be used : ‘pain.001.001.03.ch.02’ for Switzerland and ‘pain.001.003.03’ for Germany.
Once the payments are processed by your bank, you can directly import the account statement inside CPA Books. The bank reconciliation process will seamlessly match the SEPA orders you sent to your bank with actual bank statements.
Install the required module #
To pay suppliers with SEPA, you must install the SEPA Credit Transfer module. This module handle the process of generating SEPA files based on CPA Books payments.
Activate SEPA payment methods on banks #
In order to allow payments by SEPA, you must activate the payment method on related bank journals. From the accounting dashboard (the screen you get when you enter the accounting application), click on “More” on your bank account and select the “Settings” option.
To activate SEPA, click the Advanced Settings tab and, in the Payment Methods part of the Miscellaneous section, check the box Sepa Credit Transfer.
Make sure to specify the IBAN account number (domestic account number won’t work with SEPA) and the BIC (bank identifier code) on your bank journal.
Pay with SEPA #
Register your payments #
You can register a payment that is not related to a supplier bill. To do so, use the top menu. Register your payment and select a payment method by Sepa Credit Transfer.
If it’s the first time you pay this vendor, you will have to fill in the Recipient Bank Account field with, at least, the bank name, IBAN and BIC (Bank Identifier Code). CPA Books will automatically verify the IBAN format.
For future payments to this vendor, CPA Books will propose you automatically the bank accounts but you will be able to select another one or create a new one.
If you pay a specific supplier bill, put the reference of the bill in the memo field.
Generate SEPA files #
From your accounting dashboard, you should see if there are SEPA files to generate for every bank account.
Click on the link to check all the payments that are ready to transfer via SEPA. Then, select all the payments you want to send (or check the top box to select all payment at once) and click on.
The bank refuses my SEPA file #
Ask your bank if they support the SEPA Credit Transfer specification (the SEPA pain version depends on the country set on your company). If they don’t, or cannot provide relevant information, please forward the error message to your CPA Books partner.
There is no Bank Identifier Code recorded for bank account … #
In order to send a SEPA payment, the recipient must be identified by a valid IBAN and BIC. If this message appear, you probably encoded an IBAN account for the partner you are paying but forgot to fill in the BIC field.