Act 18/2022 of 28 September, known as the Create and Grow Act, is a Spanish regulation designed to facilitate the creation of companies, reduce regulatory obstacles, promote digitisation and encourage business growth.
Through 08/31/2026
You're still not a customer? Become a BBVA customer and send SEPA direct debits free of charge for the first year
If you usually make periodic collections, you can now automate them at no cost for 12 months.
Open your Bienvenida Account with no fees or conditions.
Send your company's SEPA direct debits.
Only for new self-employed customers and companies with a turnover below 5 million euros a year.
Agility in payments; 100% of procedures done online.
Greater control over collections.
All the activity is recorded in one place.
Some questions that may come up
Accounts receivable and accounts payable involve overseeing pending invoices from customers or suppliers through various administrative or financial actions.
There are several advantages of a good management of accounts receivable and accounts payable by a company:
It helps in liquidity management, focusing mainly on anticipation and learning.
It aids in managing the company's cash flow, ensuring adequate daily operations.
In relation to the previous point, it allows the company to cover its various expenses (payroll, taxes, etc.).
It has a positive impact on the company's profitability.
It helps in the control of the operations carried out, by allowing real-time monitoring of the status of collections.
It minimizes potential errors by eliminating the need for manual intervention, thereby preventing possible delays.
There is one main difference between the two. Accounts receivable management is responsible for collecting outstanding invoices from customers, while accounts payable is responsible for controlling, planning and validating payments to suppliers.
The bank draft works as follows:
First, the customer will go to his bank and fill out a payment mandate requesting that a specific amount be sent to the recipient's account, which will involve the delivery of a document with the following information:
Name of the issuing bank (of the bank draft).
Details of the person making the payment and the person receiving the money.
Amount.
Name of the bank that will pay the bank draft.
After the bank draft is issued by the issuer, the importer will deliver it to the consignee (exporter) in person so that he or she can then visit the office to collect it.
The bank remittance is a file that includes the different invoices or debits of a customer and that is delivered to the bank to manage its collection. It helps in the collection of several debts at once.