Sage Ireland Blog

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Micropay Payroll Ready For SEPA

Posted in: Accountants, Business Solutions, SEPA, Technology
2 comment

By Tanya Pun, Product Manager at Sage

SEPA (Single Euro Payments Area) is a European payments initiative to create one single integrated standardised payments market across 32 countries.

We’ve recently released Micropay and Micropay Professional v14.3 that prepares your payroll data for the SEPA switch over.

In v14.3, we have added in two new fields for BIC and IBAN to Company Details:

SAGE Micropay Ready for SEPA

and added in two new fields for BIC and IBAN Employee Details:

SEPA ready Sage Micropay

The BIC and IBAN will replace current Irish bank sort codes and account numbers on February 1, 2014. So the change will have a direct bearing on payroll Paypath payments. However, until the switch-over the current Irish sort codes and account numbers will continue to be used.

To help you prepare for SEPA, v14.3 will automatically convert existing Company and Employee bank details to BIC and IBAN.

From v14.3 onwards, when adding bank details to new or existing employees, Micropay will automatically convert the sort code and account code to BIC and IBAN.

We are currently working with IPSO and the banks on the SEPA CT file which will be added into Micropay in a release later this year.

For more information on SEPA and how it affects your business visit the SEPA page on our website.

Posted in: Accountants, Business Solutions, SEPA, Technology
2 comment

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  • Tanya Pun

    Sure Beatrice. The SEPA Credit Transfer file allows you to make euro
    electronic payments to domestic and cross-border beneficiaries in SEPA.

    This is a new XML file format that will replace the current
    payroll paypath file format from February 1st 2014

  • beatricewhelan

    Thanks Tanya for a really informative post. Can you explain what the SEPA CT file is?