What is it and how does it work?
CODA files, what is it?
CODA is a banking standard which describes the structure of coded electronic statements. These coded statements contain details of both account statements and annexes.
Upon activating CODA, you will receive a summary of all your transactions in CODA format. You can then download and export this information directly into your accounting, ERP or cash flow management system, thereby saving you time and reducing the risk of errors.
CODA files are fully compliant with Febelfin guidelines, available on the Febelfin site: https://www.febelfin.be/nl/bankstandaarden-het-engels .
Advantages
- Download all required account statements instantly, at your preferred frequency
- Easily import your statements in your accountancy software or ERP package
- Reduce or avoid manual errors thanks to automated invoice reconciliation
- CODA is included in Business’Bank Premium. No extra fees apply.
How to activate your CODA statements?
Follow the steps below to activate CODA:
- On the screen below click on the “Download transactions” button
- Select “CODA files”
- Select “Set your CODA activation parameters”
- On the CODA activation screen, select the accounts for which you wish to receive account information via electronic CODA files.
You can also set and modify a number of parameters on this page such as frequency, deadline, presentation (file format), etc. from this page.
You can also add filters (no separate or isolated messages, no commercial messages, etc.).
Your CODA files will be available for download within 48 hours of validating your request, depending on your chosen frequency.
How to download your CODA statements
- Select “Download your CODA files”
- You will see a list of all available CODA files. Simply tick the relevant box(es) to select the files you wish to download.
- After making your selection, you can download the selected CODA files as a .zip file. You can also choose whether or not you want to delete the files you downloaded from your pending files list by clicking the “Yes” or ”No” button.
Questions and Answers
No. In Business’Bank, you can only choose the CODA2 formats, no other formats are available. If you require a specific format, we recommend opening an Isabel subscription from. More info about Isabel can be found on www.isabel.eu
Both E-statements and CODA are electronic versions of your paper account statements. However, E-statements are plain text pdf-files with the same format as their paper counterparts. You can simply download them in Business’Bank.
CODA statements form part of the additional Business’Bank Premium. They are displayed in a specific format, which can be uploaded to your accounting, ERP or cash flow management system for automatic reconciliation. You can select the delivery format and frequency when you activate CODA.
If you have the Business’Bank Premium, you can activate CODA for all types of accounts that are visible in Business’Bank.
