Understanding the Belgian CODA Bank Statement Format: The Complete Guide

Understanding the Belgian CODA Bank Statement Format: The Complete Guide CODA (Coded Statement of Account) is the standard electronic bank statement format used by all Belgian banks. It was developed by Febelfin (the Belgian Financial Sector Federation) and has been the primary format for exchanging bank transaction data since the 1990s. What is a CODA file? A CODA file is a structured text file that contains your complete bank statement in a format that accounting software can read and process. Every Belgian bank — ING, BNP Paribas Fortis, KBC, Belfius, Bpost — generates CODA files for their business customers. CODA file structure: A CODA file consists of several record types, each identified by a number at the beginning of the line: 0 - Header record: Creation date, bank identification, file sequence number 1 - Old balance record: The opening balance for the statement period 2 - Movement records: Individual transactions (debits and credits) 3 - Information records: Additional details about transactions 8 - New balance record: The closing balance 9 - Trailer record: File summary with totals Why the CODA bank statement matters: The CODA file contains all the information your accounting software needs for automatic processing: transaction date, value date, amount, structured communication reference, counterparty name, and IBAN number. With a properly processed CODA file, you can fully automate bank reconciliation. Why convert CODA files? While the CODA bank statement is universal in Belgium, international accounting software like Xero and QuickBooks Online do not natively support it. CODA OK converts your CODA files to CSV format that these platforms can import directly. For Belgian businesses using: - Xero: use our Xero-import CSV - QuickBooks Online: use our QBO-import CSV - Exact Online: use our Exact-import CSV - Other software: use our generic CSV or MT940 export Benefits of automated CODA processing: Manual entry of bank transactions is time-consuming and error-prone. With CODA OK, you import your complete Belgian bank statement in a few clicks. No typos, no missed transactions, no wasted time. See also our article on "Importing CODA Files into Xero and QuickBooks" for the practical step-by-step guide. Frequently Asked Questions Q: Does every Belgian bank provide CODA files? A: Yes, all Belgian banks are required to offer CODA bank statements for business accounts. You can download your CODA file from your bank's online banking portal. Some banks also offer automatic delivery via email or SFTP. Q: What is the difference between a CODA file and a regular CSV export from my bank? A: A CODA file is standardized and contains much more information than a simple CSV export — including structured communication references, counterparty IBAN, and bank-specific transaction codes. CODA OK converts all this rich information into a readable format for your accounting software. Q: How often can I download a CODA file? A: Most Belgian banks offer daily CODA files. You can typically download your Belgian bank statement every banking day. Some banks also offer real-time CODA via API. Start with CODA OK today. Upload your CODA file and convert your Belgian bank statement in seconds to the format of your choice.