Bank Statement SEPA/ISO 20022

Banana allows the user to view and import the contents of ISO20022 and  MT940 files, even in the free version (Starter Edition) of Banana.

Display of the ISO 20022 or MT940 bank statement

In order to open and see the file :

  • Download your bank statement in ISO 20022 format
    If it is a compressed file, extract the XML file to be displayed with its own utility (p.es. 7zip)S
  • Install and open Banana Accounting
  • Drag the file inside Banana Accounting: Banana immediately shows all entries with text and date, amount and the progressive balance
  • The data of the bank statement can then be printed or copied into Excel or other programs

In this image, one can see how an exemple file is being displayed

 

 

Additional indications

  • The opening balance in the ISO 20022 file is entered into the Accounts table.
  • The column width can be adapted with the mouse. 
  • To align the text of the description on several lines, use the command Format-> Calculate all row heights
  • To categorize the movements and get statements, enter the appropriate categories in the Categories table and display the Categories column in the Transactions table with the Columns setup command.
    Or, create a new file with an existing template and categories and accounts already set up, and import the data of the bank statement as explained in the next paragraph.
  • In the free Starter Edition mode, files with more than 70 transactions cannot be saved.

Data importing in the current accounting

Proceed as indicated with the Import into accounting command.
With this function, a compressed file can slo be opened. In this case the program will prompt the user to select the file from which to import the data in the compressed file.

The ISO 20022 standard for bank statements

With the SEPA (Single Euro Payement Area), the ISO 20022 standard becomes mandatory in Europe starting 01.01.2014, and supersedes the Swift MT940 format.

The ISO 20022 camt. 052, camt. 053 and camt. 054 formats, serve for the electronic data exchange of account statements and confirmations of the status of the account.

The SEPA area banks have to make the electronic account statement available in this format.

With Banana Accounting, the data can be imported into the accounting, or simply opened and view the contents of the ISO 20022 and MT940 files.

Technical notes on converting ISO 20022

The ISO 20022 standard encodes the accounting data of the bank statement very precisely. However, it also leaves some freedom to insert additional information about the account and its movements.
Banana, when reading the file, tries to adapt itself to the ways in which the ISO 20022 file has been prearranged.
  • Reads as opening balance the similar encodings
  • Reads as closing balance the similar encodings
  • All contents are read and processed in movements
    • Transaction date (Date)
    • Valuta date
    • Transaction amount (positive or negative)
    • Description (Banana for now assembles the various descriptions in a single text)
      In the future it will be possible to extract this information more specifically and indicate other columns where to enter it.
       

If there would be any specific or national requirements, please make them known to us, in order to improve that conversion- and import functions.

When opening a file ISO 20022, Banana Accounting:
  • Creates a new Cash book file
  • Adds all the transactions of the bank statement in that file
  • Defines the opening balance (Accounts table) with the value of the opening balance found in bank statement
  • Defines the file header with the text found in the file and the IBAN account number
  • Defines the currency as the one found in the ISO 20022 file
  • Calculates the progressive balance.

 

 

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