From 1 February 2014, the European standard for the payments market will be the transition to new account numbers for employees and suppliers. 2014 may still seem far away, but the introduction of SEPA requires a lot of preparation if you’re using SAP.
An important part of the SEPA payment is the transition from the current bank account numbers to IBAN (International Bank Account Number) account.
This means additional administrative actions in SAP to maintain debtor, creditor and employee banking information.
Your SAP system may already be ready for conversion to IBANs however the actual task of changing to the new account numbers may require either manual data entry or program routines.
SAP recommends using CATT (a testing tool) or LSMW (Legacy Systems Migration Workbench) for the conversion routines however these are programmer tools that can only be used by IT and this means that business owners can’t be fully responsible for this business activity. IBAN conversion by using the SAP program RFIBAN00 is also not 100% guaranteed – so why would you take the chance?
Additionally, if something goes wrong with your LSMW routines, tracking the errors in relation to the data is time consuming and pretty difficult.
Winshuttle Studio enables you to not only extract details of bank account information assignments but also enables you to rapidly implement conversion routines that you can use for this transition and for maintenance long after the deadline.
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- Preparing for the Single Euro Payments Area
- International Bank Account Number (IBAN)
- SEPA, SAP and Winshuttle
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