How to Generate SEPA Remittances with Zoho Books

S.E.P.A con ZOHO Books
WOZTELL Golden Partner : WhatsApp + zOHO

It is now possible to generate SEPA (Single Euro Payments Area) remittances from ZOHO Books.

Managing SEPA remittances with ZOHO Books is a real relief, as it used to be a real headache for many companies. All those who used to rely on ZOHO Books and can now create their SEPA remittances are delighted with this solution.

Being able to generate SEPA compliant files to import directly into an online bank was a pending issue for ZOHO. SAGITAZ has been working on a solution and will begin working on it in 2015 to make this functionality available to Zoho Books users. So today many of our customers are already using this option.

As you may know, SEPA is a common European area in which companies and citizens from countries belonging to the Single Euro Payments Area carry out economic transactions, under equal conditions. With common obligations and rights beyond the member state where these transactions take place.

Thus, companies, individuals and official bodies can carry out their transactions with banks in the SEPA zone in a single currency, the euro. It is possible to make transfers, card payments, automate collection processes, etc. There are 34 states participating, 28 of which are in the European Union, as well as Iceland, Liechtenstein, Monaco, Norway, San Marino, and Switzerland.

Gestión de SEPA con ZOHO Books

SEPA management with ZOHO Books

One of the most frequently asked questions from customers using ZOHO Books in relation to SEPA relates to archiving for SEPA compliance. Many want to automate the generation of that archive using ZOHO Books. Yes, it is possible, since ZOHO is a set of web tools for companies. And SAGITAZ focuses its activity on developing business through ZOHO’s applications.

We ourselves at SAGITAZ generate the client collection files in an XML file ready to be imported into the banks. The automation of payments is also available for paying payroll and suppliers. This way we can work with banks such as BBVA, CaixaBank, Santander, etc.

Payment requests are made from the data in ZOHO Books by simply uploading the XML file directly to the bank’s platform. This avoids having to access and type in each of the receipts to be collected or transfers to be paid.

Sagitaz’s solution for managing SEPA includes the possibility of creating a remittance with different maturities. The bank will be able to manage the file received without any problems. Imagine the time saved in this type of tedious manual task thanks to this magnificent business solution for financial management.

SEPA Business Benefits

122 billion is handled annually in the SEPA area. With ZOHO Books you can receive payments in different currencies.

SEPA Direct Debit is a service for raising funds in euros. We have both the B2C and the B2B scheme. The former is for business-to-customer relations and the latter for business-to-business relations.

In the first case, you can be charged by direct debit in euros and you can have refunds within 8 weeks of receiving the payment. For the B2B scheme, no refunds are allowed unless the payer confirms that he does not agree with the charge. You can prove this with a period of 13 months.

Once the debit requests have been sent, it can take between 3 and 5 working days to receive notification of the success or failure of the payment. When all is well, the account is credited directly. If something fails, a message is received from the bank. These failures are usually due to a lack of funds from the customer or payment cancellations.

SEPA Debit helps your company in:

  • Automating the collection and payment processes.
  • Reduce costs in payment operations.
  • Errors in payments are reduced.
  • There are no limits to transactions.
  • All transactions between SEPA countries are governed by the same rules and obligations.

In short, if you have a business you will no longer have problems with high costs and delays or uncertainties when receiving payments from other countries. With SEPA Direct Debit you have an economical and secure means of payment. Imagine having all this integrated into your ZOHO Books thanks to SAGITAZ. What are you waiting to try this service? Contact us now and try it out.