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Index- What is Isabel 6
- What is SEPA
- SCT , SDD , SEPA Card Fremework
- SEPA FINVOICE
- Invoice Part
- Payment Initition ( UNIFI – ISO 20022 like CustomerCreditTransferInitiationV02 ,CustomerDirectDebitInitiationV01 )
- ebXML Accounting Token
- Example of SEPA FInvoice
What is Isabel 6- Very advanced electronic banking solution
- Isabel 5 will not be upgraded for SEPA
- Isabel 6 is the SEPA solution, up to date and future proof - SEPA formats for data exchange (XML and CODA 2.1)
- Isabel 6 have new two platform for SEPA :
- Zoomit : Platform for e-document presentment
- Bankit 6.0 : Platform for (corporate) e-banking
- Isabel 6 launch in 3 steps
- Pilot Phase
- Started 28/1/08
- For customers needing SEPA and eager to use the new Isabel 6 benefits Time before launch used to get all customer ready for Isabel 6
- Launch Phase
- Foreseen as from October, gradual uptake foreseen
- Massive migration phase
- All customers are brought to Isabel 6 because of SEPA obligation
- Import / Export functionality on Isable 6 Pilot version
- Import counterparties
- Import domestic, foreign and SEPA Transactions
- Import / Export account information (CODA 2.1)
What is SEPA- Evolving from multiple domestic, national payment systems to one Single Euro Payments Area
- SEPA Componets
- Credit Transfers (SCT)
- New Direct Debit flows (SDD)
- SEPA Cards framework
- New elements
- IBAN / BIC for identification of accounts
- New standards (XML standards) – UNIFI ( ISO 20022 )
- New Legal Framework
- CODA 2.1 for Account statement
SEPA FInvoice
- The SEPA Finvoice version used by Zoomit was designed by combining elements from three XML-based standards:
- The Scandinavian version of the Finvoice (Financial Invoice) minus its EPI section
- The ISO 20022, payment standard initiation
- The ebXML accounting token as defined in CCL06B.
- The invoice part of SEPA FInvoice :
- The SEPA Finvoice used by Zoomit is based on a draft of Finvoice 1.3 model.
- The essential elements are:
- The parties (seller, buyer )
- The invoicing header (date, invoice number, various references)
- The rows: one row contains one line of the invoice, with all information related to that line (product, price, quantity, shipment cost, discount, etc.). The row model supports subrows (e.g. for subtotals) and grouping of rows.
- Information on delivery.
- Payment Initiation Part :
- SEPA Finvoice is the ISO 20022 standard on payment initiation (CustomerCreditTransferInitiationV02 and the CustomerDirectDebitInitiationV01) Based on the implementation guidelines of Febelfin / sepabelgium.
- Finvoice supports four mode of payment:
- credit transfer,
- direct debit,
- DD80 (former direct debit)
- ePI (electronic payment initiation)
- Although the SEPA Finvoice contains the complete ISO 20022 standard, Febelfin has specified a subset of that standard... so not all the elements are needed for payments within Belgium.
- In the payment part, the essential elements are:
- The parties (debtor, creditor, bank)
- The information on the payment (date, amount)
- The structured communication.
- ebXML Accounting Token :
- The accounting token was developed in the framework of ebXML.
- Purpose is to enable automatic generation and recording of entries in accounting books.
- For The SEPA Finvoice version we have included the entire data set defined by the ebXML accounting group.
- More specifically, This includes:
- Account numbers: the account proposed for posting both in the buyer and seller records.
- Reporting items: the reference to the VAT reporting forms, both for the buyer and seller reporting
Example Of SEPA FInvoice
- Example for Credit transfer
- Example for Direct Debit
- Example for EPI
References :
