Automatic collection via SEPA
You can automatically collect outstanding items from debtors. You generate a collection order, which allows your bank to transfer amounts from the bank account numbers of debtors to your own bank account number. Of course, you need permission for this from your debtors.
- Your debtors pay on time
- You easily process recurring amounts
- You reduce the number of reminders, interest loss and bad debts
Often the bank will (have to) perform an extra check on the initial SEPA collections. Follow the bank's instructions for delivering SEPA files.
In Belgium, this functionality is calledinstead of .
Before you start with the automatic collection of invoices, you need to configure this functionality for the outstanding item (invoice) or as a default setting for the debtor. If at the debtor level you have specified that you want to automatically collect payments, Profit includes outstanding items of that debtor in collection orders. However, you can exclude specific items from collection. The collection order only includes invoices for which debit mandates have been provided.
You can record two types of debit mandates:
- One-off mandate.
You record debit mandate data per invoice.
- Recurrent mandate.
You record debit mandate data for each debtor from which you want to collect.
For the collection order, the distinction between one-off and recurrent mandates is important.
In addition, several collection methods are available for collection orders:
Profit automatically suggests Default as the SEPA collection method for both recurrent and one-off collections. This collection method offers those being collected from good protection, including a refund right of 56 calendar days.
For a debtor with recurrent collections, you set a 'Business' collection method if a refund right does not apply to these collections. This collection method does mean that the debit mandate must meet additional requirements. The debtor (the one being collected from) must register the debit mandate with the bank, so the bank, in case of a business collection transaction, can check if the collector is authorised and will not carry out the collection transaction if the mandate is missing. This check provides a guarantee against wrongful use of the business collection method which is not present for the default collection method. ('Business')
In Profit, various mandate forms are available for mandates in writing.
For the execution of a collection order, you generate a collection order in Profit, which prepares an electronic collection file (in SEPA format). The SEPA or PAIN format (Payment initiation) is a file format in XML format used as standard within SEPA for sending payment and collection orders to the bank. You send this file to your bank. Your bank checks the collection order and then forwards the transactions to various banks in order to perform the collection.
- Configure automatic collection with SEPA
- Configure a debtor for automatic collection with SEPA
You define per debtor whether you want to collect any outstanding items automatically. In this, you also specify whether you want to collect from the debtor on a recurring or one-off basis. If you want to collect more than once, you specify which SEPA collection method (default or B2B) is applicable. In addition, you set the correct payment condition for the debtor if you want to collect invoices in instalments.
- Record multiple debit mandates per debtor
- Configure collection specification sending by e-mail
- SEPA collection concepts and scenarios
- Record the debit mandate date per debtor
- Change or view the collection settings for an invoice
- Record the debit mandate date per invoice
- View debit mandates
- Print a mandate form
- Collection pre-announcement notification to debtor
- Delete a debit mandate
- Change the SEPA collection method of an existing debtor from Standard to B2B
- Change the bank account number of an existing debtor with an existing mandate
- Grant a collection reduction
- Add a SEPA collection order
- View and change a collection order
- Generate and journalise a collection file
- Directly process a collection order
- E-mail or print a collection specification
- Complete a collection order
- Reverse a collection order
- Perform an automatic collection with payment instalments
- Perform an automatic collection using a collection set
- Automatic collection via the bank link (AFAS Online)