Hello all, we are in the process of converting our EU banking to SEPA. I understand the SEPA Direct Debit where we have to have an IBAN, BIC and Mandate for any EU customer which we have a Direct Debit agreement. And we must send the same to the bank.
My question is on the vendor side. Let's say I am in Germany and I have two vendors in France. One I have a direct debit agreement and the other I do not. Do I need to create a mandate for both vendors? Or just the one which I have the agreement? Do I even need a mandate for a vendor? Is it enough to send the BIC and IBAN?
Also, regarding the vendor mandate. I configured the mandate application Financial Accounting in transaction FI_APAR_SEPA_CUST. Do I also need to configure same for Application Bank Customer Sender Bank?
Thanks for any quick tips or insight. There is a ton of reading material but I haven't really been able to determine the answer on the vendor mandate.
Many thanks in advance,