What is SEPA creditor identifier in SAP SRD-FIN-ACR - FIN-Receivables?

SAP Term: SEPA creditor identifier

• Component: SRD-FIN-ACR

• Component Name: FIN-Receivables

• Description: An alphanumeric key to identify the creditor payee within the SEPA direct debit scheme. The unique creditor identifier is issued to private individuals and legal entities acting as creditors. It is needed to complete a SEPA mandate which in turn represents the consent given by a debtor to a creditor to collect a payment via direct debit.

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• Key Concepts: 
  The SEPA Creditor Identifier (SCI) is a unique identifier assigned to companies and organizations that are registered to receive payments within the Single Euro Payments Area (SEPA). It is used to identify the creditor in SEPA payment transactions. The SCI is a mandatory field in SEPA payment transactions and must be provided by the creditor. 
  
  How to use it: 
  In SAP, the SCI is used in the SRD-FIN-ACR FIN-Receivables Management component. This component allows companies to manage their receivables and payments within SEPA. The SCI is used to identify the creditor in SEPA payment transactions and must be provided by the creditor. 
  
  Tips & Tricks: 
  When entering the SCI into SAP, make sure that it is entered correctly and that all of the required information is included. This will ensure that payments are processed correctly and that the creditor is identified correctly in SEPA payment transactions. 
  
  Related Information: 
  For more information about the SCI, please refer to the European Payments Council website (https://www.europeanpaymentscouncil.eu/). Additionally, for more information about SAP’s SRD-FIN-ACR FIN-Receivables Management component, please refer to SAP’s website (https://www.sap.com/products/receivables-management.html).