SEPA - an update

The latest version of Thesaurus Payroll Manager (2013.2.0 onwards) allows you to prepare SEPA compliant credit transfer files if you bank with AIB or DanskeBank.

From a payroll prospective, it is important to note that, at present, SEPA is really only beneficial to you if any of your employees wish to have their wages paid directly into a euro bank account in another EU state. Otherwise, the only benefit to you is being an early adopter and knowing that this is one less thing you will need to do next year.

If your bank requires a SEPA format credit transfer file for the payment of wages then you can use the SEPA feature within Thesaurus Payroll. This operates seamlessly, converting each employees bank details into BIC and IBAN formats for all domestic payments.  In short, you need only obtain BIC and IBAN details for those employees who require payment into a euro bank account in another EU state.

Bright Contracts – Employment contracts and handbooks
BrightPay – Payroll Software

Posted byPaul ByrneinSEPA