SEPA, or the Single Euro Payments Area, serves as a unified payment integration system within the European Union, facilitating streamlined bank transactions in Euros. It simplifies the process of bank wire transfers by enabling payment orders to be sent directly to the chosen bank. SEPA encompasses the banking systems of 28 EU member states, along with Andorra, Iceland, and Norway. With SEPA Direct Debit, businesses can effortlessly collect recurring payments from customers. Utilizing Odoo ERP, users can conveniently settle bills through SEPA by generating a SEPA file containing bank transfers, which can then be submitted to the bank by the manager at the end of the day.
Once banks have processed payments, account statements can be imported into Odoo. To set up SEPA payment methods for customers, utilize the features offered by the Odoo 16 Accounting module. Let's explore how to leverage the SEPA direct debit functionality to collect payments from customers. Start by enabling the SEPA Direct Debit capability within the Odoo 16 Accounting module.
To facilitate payments via SEPA, users need to activate the SEPA direct debit feature within Odoo 16 Settings. Access the Customer Payments section by navigating to the Settings menu under Configuration. In the screenshot provided below, enable the SEPA Direct Debit (SDD) option to accept payments through the Euro SEPA service.
In the Creditor Identifier field, input the number provided by your bank or institution. Then, to utilize this specific functionality in Odoo 17, click on the SAVE button.
A mandate refers to when a customer authorizes the automatic deduction of funds from their account. SEPA's direct debit mandate is documented through agreements signed by clients, granting permission to withdraw money from their bank accounts. With the Odoo 17 Accounting module, generating a mandate for a customer is straightforward. Navigate to the Customer tab, select Direct Debit Mandates, and click on the New icon, as shown in the screenshot below.
In the new window, choose the customer in the Customer field for whom payments are regulated by a specific mandate. Then, select the journal to receive SEPA direct debit payments for this mandate and specify the customer's account for receiving payments within the IBAN box, as illustrated in the screenshot below.
In the depicted scenario, a unique identifier was assigned to the mandate, and the CORE option under the SDD scheme was selected, as illustrated in the screenshot below.
In the "Start Day" field, input the date when the mandate was initiated, along with your company's details. Subsequently, after storing the information, you should email the document to your customer and print it using the PRINT icon.
Once the client or customer signs the mandate, users have the option to attach it to the conversation. Subsequently, the mandate can be conveniently validated, and it remains possible to close or revoke it at any time.
Once SDD is activated as a payment provider, you can configure SEPA direct debit as the payment option in eCommerce or the customer portal. To do so, navigate to the Payments section under the Configuration tab and select Payment Providers. Upon reaching the new page, you'll see a list of all available payment methods. From there, click on the SEPA Direct Debit Payment Provider, as illustrated in the screenshot below.
On the opened page, users can view the code and name of a payment provider. As illustrated in the screenshot below, you can activate SEPA Direct Debit by enabling the option in the State field.
Underneath the "PAYMENT FORM" section, located within the "Configuration" tab, users can input the customer provider's description. Additionally, users can specify the maximum payment amount eligible for SEPA Direct Debit under the "Maximum Amount" field. Leaving this field empty will result in the SEPA payment provider applying fees.
In the "Nations" box, users can specify all relevant countries for a particular payment provider. Next, let's explore how to utilize SEPA for settling a customer invoice. Users can access a record of all generated invoices by navigating to the "Invoices" menu under the "Customers" tab. To create a new invoice for a customer, simply click on the "NEW" button, as depicted in the screenshot below.
Select your customer and input the delivery address for the customer invoice on the displayed page. Subsequently, as illustrated in the screenshot below, enter the invoice date, journal, and due date for your specific invoice.
Click on "Add a line," then choose your product from the options listed under the "Invoice Lines" tab. As depicted in the screenshot below, select one quantity of Ply Layer and click on the "CONFIRM" icon.
Upon approval, the stage transitioned from DRAFT to POSTED. We can proceed to pay a customer invoice by selecting the "REGISTER PAYMENT" option on the Invoices page.
When utilizing the Register Payment method, designate your Journal as the Bank. Users can opt to pay customer invoices using the established SEPA Direct Debit, as depicted in the screenshot below.
After entering the necessary details, click on the "CREATE PAYMENT" icon. Once the payment is processed, the Invoices pane will indicate completion with an "IN PAYMENT" icon.
Hence, utilizing SEPA Direct Debit for payments in Odoo 17 is straightforward. The reporting functionality of the Odoo 17 Accounting module enables businesses to analyze invoices effectively. Users can access the graphical representation of the Invoice Analysis menu via the Reports tab. Within the graph view, users can review the line chart depicting the invoice date on the X-axis and the untaxed total amount on the Y-axis, as illustrated in the example below.
Users can customize the graph by selecting the MEASURE icon, enabling them to apply different values to the graph, as depicted in the screenshot above. The reporting tool in Odoo 17 facilitates the evaluation of customer invoice performance.
Odoo ERP simplifies SEPA Direct Debit payment transactions for companies, streamlining the management of customer invoice transactions with the SEPA payment provider. Through Odoo ERP software, businesses can easily customize transaction areas for their clients or customers.