Credit transfers, Sweden (100026)

Vendors can be paid from accounts payable by transmitting credit transfer messages to the bank in a format that the bank can interpret. The bank can then take the appropriate action.

Sweden specifics

The Bankgirot system is a network for credit transfers between accounts held at the commercial banks. Funds are transferred between bank accounts by means of a giro number, which is not an account number but an address indicating a bank account. The Bankgirot is also an open interbank system for the processing of payments and payment information.

PlusGirot is a credit transfer function, which is part of Nordea, and used for mediating payments between accounts held by companies and individuals. Payments between the Plusgiro accounts take place through transfer within a ledger in Nordea. Payments from other banks to Plusgiro accounts are settled in RIX.

How Infor meets this requirement

In SyteLine, vendor payments from the AP EFT and Wire Payments form generate a CreditTransfer BOD that is sent to ION. In ION, Infor Localization Services components are used to transform the content of the BOD into an EFT file in an appropriate format.

When certain country packs are enabled, country-specific information is included in the CreditTransfer BOD XML. When the BOD is sent through the document flow, ION checks the contents of the XML against the Decision Table Properties in the flow, to determine which message format to generate.

The proprietary message formatted file is downloaded to a local server. Your company’s bank retrieves the file using a secure retrieval method that is determined by the bank. The information in the file generates a credit banking transaction, informing the bank to move the funds from your company’s bank and account to the employee, vendor, or customer bank and account. Your company's bank then initiates an EFT to the customer’s bank to have the funds transferred by a bank-to-bank EFT.


Application	Setup or Actions
ION Desk	The planning worksheet lists the BODs, document flows, etc., needed for Credit Transfers. It also shows the proprietary Credit Transfer message formats that are supported by this ERP for this country. Use this information with the integration guide to set up the flow.
ERP	For application setup and usage, see the help topic Setting up Electronic Funds Transfer (EFT) Payments. Note: If the Sweden Country Pack is enabled, only vendor payments from the AP EFT and Wire Payments form are used to generate a CreditTransfer BOD. Vendor, employee or customer payments on the Bank Reconciliations form do not generate this BOD.