on 10-15-2019 2:05 PM
Hi ,
We are configuring ACH & Wire payment for JP Morgan Bank . The account will be operated from Singapore and payment will be made with in Singapore and across other countries .
Payments initiated from or sent to certain countries may require specific Regulatory/Clearing declaration on purpose code etc.
The requirement is to share the purpose code is different for each country in specific format while processing the file and sent to JP Morgan.
e.g for Philippines
Provide purpose of Payment Information as /REG/XXXXX where XXXXX is the Purpose Code
Where as for Indonesia it is
For regulatory FX Reporting to Central Bank, you will need to provide the following codewords if transaction is greater than USD10000 or equivalent. Format: "/REG/BIDATA,(ISO Country Code), (Category), (Relationship), (Transaction Purpose Code)" e.g. "/REG/BIDATA,US,E0,B,2183"
additional information :
Please refer to the attached link for Country Specific Payment Regulations
https://www.jpmorgan.com/tss/General/Country_Specific_Payment_Regulations/1159348953292
Please advise how this can be done in SAP .
1. While preparing the invoice
2. Capture during F110 run
Any advise would help.
Regards
Jogendra
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