Field help (BDFECOCOD)

Enter the code of the economic reason necessary to meet the requirements for the payment balance declaration.

How the economic reason code functions

If the company is the direct reporting company, the economic reason code must be entered under Accounting in the Company record.
This code is automatically applied to any payment generated to a nonresident BP based on the company.
 Do not enter a code if there are operations with resident BPs.

If the company is not the direct reporting company, the economic reason code must be entered for each nonresident BP.

To do so, you need to follow these prerequisites:

• The threshold payment balance defined in the AMTVIR1-Threshold 1 payment balance or AMTVIR2 - Threshold 2 payment balance parameter is met (PAY chapter, RGL group).
• In Economic reasons codes (PBDECOCOD): enter values for the company legislation.
• In Economic reason/BP groups (PBDBPGRP ): enter values for the legislation and the BP code used for payments.
• In the PBDDEFGRU - Payment balance default BP group parameter (TRS chapter, PBD group): enter the default BP group code used in payments or for migration for the related legislation.
• The payment entry type (GESTPY) used for the payment must have the Bank ID check box selected.
• The Bank ID for the partner (GESBPR) used for the payment is a nonresident (Nonresident = Yes).

This way, the economic reason code is defaulted, but you can change the value if required.

In Payment proposal,the economic reason code value defaults in the payment generated following same rules.

The Economic reason code is loaded or not according to the context, and it cannot be mandatory when setting up the payment entry transaction.