BACS Reference for supplier ePayments?

M

mehmoodhamid

Guest
Hi there,

I am planning to pay my suppliers through Sage 50. I have two questions.

1- There is field "BACS Ref". ? What I should put in this field? Can I leave it blank or blank field will cause rejection of remittance advice?

2- Can I key-in folliwng both fields, as some of the suppliers are international.
a) Sort Code & Bank Account
b) Swift Code & IBAN number

Normally in online payment, we use only one (either a or b) as other option is not available during the onlien payment. I want to keep Sort Code & Account because Sage does show blank space when I generate report.

Appreciate your help on this.

mehmood
 
Bacs reference I imagine is your reference of the payment
Question 2 - you should definitely use BIC and IBAN because all payments both domestic and cross border will have to use BIC / IBAN from Feb 2014.
 
Brussels said:
Bacs reference I imagine is your reference of the payment
Question 2 - you should definitely use BIC and IBAN because all payments both domestic and cross border will have to use BIC / IBAN from Feb 2014.
Click to expand...

Thanks for your time and answer.

Would BACS will appear on the recipient's statement as a money sender's reference so that they know that from where this money is coming?

Question 2 - Is it ok if I use both? - both above (a) and (b) in starting post.
 
I believe that the BACS reference will appear on the beneficary.
On Q2 its probably best to check with SAGE
 
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