Set up method of payment for ISO20022 direct debit

This article explains how to set up the customer method of payment for ISO20022 direct debit or any other payment type using electronic reporting in Microsoft Dynamics 365 Finance.

Before you complete the following procedure, you must first set up export format configurations and payment accounts.

The procedure was created using the demo data company DEMF.

To set up the customer method of payment for ISO20022 direct debit, follow these steps.

1. In Dynamics 365 Finance, go to Accounts receivable > Payments setup > Methods of payment.
2. Use the Quick Filter to find records. For example, filter on the Method of payment field with a value of "ELECTRONIC".
3. Select Edit.
4. In the Payment account field, enter the value "DEMF OPER".
5. Expand the File formats section.
6. In the Generic electronic reporting field, select Yes.
7. In the Export format configuration field, enter or select ISO20022 Direct debit (DE). If the list is empty, the customer payment export format configuration hasn't been imported and activated.
8. In the Require mandate field, select Yes for customer payment formats that require including mandate information in the payment message, like SEPA direct debit.
9. Select Save.