With effect from 1st February 2014, the existing Irish electronic payment system will close down, following which all electronic Euro payments must be processed through the new SEPA schemes. If you currently submit your Direct Debit file in electronic format to your bank then you will need to upgrade your Accounting software to handle the new file format. We can confirm that our Sage 50 add-on Direct Debit software will be releasing a new version of the software which will be SEPA compliant later in the year.
If you currently process your direct debits manually on the banking software, then you will need to invest in software to produce an electronic file for submission as this facility will no longer be available after 1st February 2014.
If it is cost prohibitive to upgrade your accounting system or there is no upgrade available we have sourced an Electronic Fund Transfer software package which is capable of importing your Direct Debit values from your accounts system in Excel or CSV format and can produce an XML Sepa compliant file for upload to your bank.
It is now time to plan for your SEPA changeover as February 1st is just around the corner.
Contact James at email@example.com or 0719146815 for further information.