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Set up vendors and vendor bank accounts for ISO20022 credit transfers

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This article explains how to set up the vendor and vendor-specific bank account information required for a ISO20022 credit transfer or any other vendor payment file generation in Microsoft Dynamics 365 Finance.

The demo data company used to create the following procedures procedures is DEMF.

Set up bank details

To set up bank details, follow these steps.

  1. In Dynamics 365 Finance, go to Accounts payable > Vendors > All vendors.
  2. Use the Quick Filter to find records. For example, filter on the Vendor account field with a value of "DE-001".
  3. Select DE-001 to open vendor details.
  4. On the Action Pane, select Vendor.
  5. Select Bank accounts.
  6. Select Edit. If there is no bank account available, you must create a new one.
  7. In the SWIFT code field, enter "COBADEFFXXX".
  8. In the IBAN field, enter "DE36200400000628808808".
  9. Close the page.

Set up a method of payment for the vendor

To set up a method of payment for the vendor, follow these steps.

  1. Select Edit.
  2. Expand or collapse the Payment section.
  3. In the Method of payment field, select the drop-down button to open the lookup.
  4. In the list, select the link in the SEPA CT row.
  5. Select Save.