General Information about SEPA (ISO 20022)
SEPA (Single Euro Payments Area) is part of the payment format according to the ISO 20022 standard. It is used for EUR payments in Sweden and in countries connected to the European Monetary Union (EMU). You can also make payments using other currencies according to ISO 20022. In MONITOR you will find a separate payment method called ISO which creates payment files in the format according to the ISO 20022 standard.
The countries Finland, Germany, Poland and Estonia already have separate adaptations used to create SEPA payment files. These countries shall continue to use these adaptations and the payment method FB or LB (depending on the adaptation). The adaptation numbers are either 5, 510 or 515 and they are all free of charge. Below you will see which banks that require an adaptation. Payments made in other currencies than EUR are also managed in the payment format according to ISO 20022. Consequently, all payments can be made via the payment method FB or LB and in one and the same file.
Some system settings also need to be configured.
Under Help | About… in the Window menu you can see if the adaptation is included in your system. If the adaptation is missing, please contact the Support department at Monitor ERP System AB, and they will send it to you.
For other countries you do not need an adaptation to create a SEPA payment file. This is then created when using the payment method ISO. Settings are required in the system in order to create a payment file via this format. The conversion must also be made in cooperation with your bank. Please read the information in the document called "Converting to ISO". You can also use the payment method ISO to create payment files for other currencies than EUR. Consequently, all payments can be made in one and the same file.
The following specific banks/countries are supported in MONITOR regarding creating SEPA payment files.
Please note that different banks require different settings.
- SE-Banken
- Nordea (CFP)
- Swedbank
- Handelsbanken
- Danske Bank - Sweden
- Danske Bank - Denmark
- Nordea Finland - SEPA (adaptation 5)
- Handelsbanken Germany - SEPA (adaptation 510)
- SEB - Poland (adaptation 515)
- OP Pohjola group - SEPA (adaptation 5)
The following countries are supported in MONITOR regarding creating SEPA payment files.
Please note that different countries and banks require different settings.
- Lithuania SEPA
- Germany SEPA
- Samlink Finland - SEPA (adaptation 5)
- All banks in Estonia - SEPA (adaptation 515)
Getting Started with SEPA - Preparations
If you are working in one of the countries mentioned above and have adaptation 5, 510 or 515, the following settings must be configured in MONITOR:
Settings in the EDI Links procedure
Settings in the Company Info procedure
Settings in the Update Supplier Procedure
For specific settings for the formats, please contact our Support Department at Monitor ERP System AB.
In other countries that do not require the adaptation and you shall use the payment method ISO, the following settings in MONITOR must be configured,
Settings in the EDI Links procedure
Settings in the Company Info procedure
Settings in the Update Supplier Procedure
How to Use SEPA
After having configured the necessary settings, you can register and pay invoices according to the chapter called Registration and Payment of Invoices.