SEPA Mandates

With the Introduction of SEPA , we can create Mandates in Oracle which will enable direct debit Payments from the customer,
Below we list the basic activities that need to be done for SEPA mandate creation and the Mandate detail population on the invoice.

1. Create Customers
2. Create Customer Banks with correct IBAN numbers
3. Create Madate for the Bank Account
4. Setup Direct Debit/Automatic Receipt Methods
5. Ensure that the Receipt method is assigned to the customer
6. Create AR invoice with the correct receipt method as setup in Step 4
7. The Invoices will get created with the Correct SEPA Mandates

When Creating the invoice in Oracle depending on the Receipt method specified for the direct debit receipt methods Oracle will automativall check ofr the presence of Mandates at the customer BILL TO and create the AR invoice with the Mandate information. Once created Direct Debits can be performed.
Post with Madate Creation Details coming soon.