Overview

Creditor Reference for SEPA Credit Transfer (SCT)/SCTCreditorReference is a setting located under Financial Settings > General Settings > Other Payments, in the Transactions Verification Codes sub-group.

What This Setting Does

This setting lets the institution choose what piece of information should be used as the reference number (also called remittance information) on SEPA Credit Transfer verification QR codes. The reference is the code a payer’s bank includes with the payment so the institution can later match the incoming transfer to the correct invoice or person.

Where It Is Used

This setting affects the payment reference (remittance information) embedded in SEPA Credit Transfer verification QR codes generated on invoices or statements. The setting is configured at:

• Main Menu > Financial Settings > General Settings > Other Payments > Transactions Verification Codes – this is where the institution selects the creditor reference type from a fixed list of options.

Business Logic / Behavior

• This is a single-select setting, offering a fixed list of possible reference types, such as a SEPA ID barcode value, a global registration number, or the _Student_’s code.
• The reference chosen here becomes the structured remittance information included in the SEPA Credit Transfer QR code, which helps the institution automatically reconcile incoming payments with the right invoice or _Student_.
• This setting is only relevant when the Verification QrCode Type is set to the SEPA Credit Transfer option.

Example(s)

Example National Institute wants incoming SEPA transfers to be automatically matched to the correct _Student_ record. The finance office sets the Creditor Reference to the _Student_ code option. When a EUR 400 installment invoice is generated for a _Student_ with code STU-00482, the SEPA Credit Transfer QR code embeds STU-00482 as the payment reference, so when the EUR 400 transfer arrives at Example National Bank, Classter can automatically match it to that _Student_’s account instead of requiring manual reconciliation.

When to Use

Use this setting when the institution has enabled SEPA Credit Transfer verification QR codes and needs to decide which identifying reference should travel with the payment for reconciliation purposes.

Notes

Prerequisite: this setting is only effective when Verification QrCode Type/VerificationQrCodeType is set to the SEPA Credit Transfer option and Enable transactions unique verification QrCodes for the following types/EnableTransactionsUniqueVerificationQrCodes is turned on.

• Verification QrCode Type/VerificationQrCodeType (Financial Settings > General Settings > Other Payments > Transactions Verification Codes)
• The Default purpose of the SEPA Credit Transfer/SCTDefaultPurpose (Financial Settings > General Settings > Other Payments > Transactions Verification Codes)
• Enable transactions unique verification QrCodes for the following types/EnableTransactionsUniqueVerificationQrCodes (Financial Settings > General Settings > Other Payments > Transactions Verification Codes)

K-12 vs Higher Education: This setting behaves the same regardless of whether Higher Education Mode (Enable Configuration for Higher Education/Xrisi_parametropoihshs_kolegiou) is enabled or disabled.