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 formatIf 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
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 SEPA area banks have to make the electronic account statement available in this format.
Technical notes on converting ISO 20022
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.
- 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.