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SEPA | Process step by step

Processing Direct Debit invoices for the first time? In general the process looks like this:

  1. Ask a SEPA ID at your bank and put it in Business Settings > Financial information
  2. Go to Financial App > Download SEPA File from Virtuagym with outstanding invoices
  3. Send the SEPA file to your bank & wait 3-6 days for the bank to process
  4. Bank will return the CAMT-file (result of the debiting)
  5. Upload the CAMT-file in Virtuagym to process which invoices have been paid and which payments failed

 

Here is a step-by-step plan of the complete process:

1. SEPA ID

1 a. Contact your bank ask for a SEPA ID at your bank and put it in Business Settings > Financial information

 

 2. SEPA DOWNLOAD

2 a. Go the the Financial App

2 b. Select 'Outstanding' & 'Direct Debit'

2 c. To download the SEPA file, select the period (this month, last month, this year, etc.) and select all outstanding invoices 

2 d. Options > download as SEPA:

2 e. Go to Created Downloads and check your SEPA batch. Select FRST if it's your first SEPA batch, RCUR if it is the following. 

2 f. After checking, click on DOWNLOAD FILE. Now it is ready to send it. Keep in mind: do not click on Finish yet, click on finish when your bank approved the SEPA download. 

 

3. Send SEPA file to bank

3 a. Your SEPA file is checked, you can upload it in your bank (ask your bank if you need help) 

3 b. If you bank approved the file, go to 'Created Downloads' and click on 'Finish'

 

4. Bank sends you the CAMT-file

4 a. Should be an .xml file, save it on your computer 

 

5. Uploading CAMT-file

5 a. Go in the Financial App to Created Uploads to upload the file (.xml file)

5 b. Review the results and submit if everything is correct 

5 c. The failed payments will now be registered as 'outstanding' and will be debited in the new SEPA batch again. 

 

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