BIC
The BIC is the international bank code used to identify a financial institution clearly in payment transactions. It is used together with the IBAN to assign payments to the correct bank, especially for cross-border transfers. In SAP Business One, the BIC can be stored in business partner or bank master data so that payment information is complete and can be processed automatically. This supports accurate processing in financial accounting and reduces errors when bank details are transferred, so payments to suppliers or refunds to customers can be prepared with the correct bank information.