Account statement and transaction reports
The account statement is an official certificate of the transactions and balances in your account. In addition to the account statement, your company can choose various electronic reports that enable automatic updating of transactions in your book-keeping and ledgers and that support cash management.
With electronic account statements you can make most account entries automatically to your accounting.
With electronic transaction reports you can update quickly and correctly the sales and purchase invoices in your ledgers.
XML reports are based on the international ISO 20022 standard and pave the way for a common operating method all over the world.
- Electronic account reports support the automation of financial administration.
- Automatic processing of reports makes cash and liquidity management faster.
- Common data contents in XML reports allow the same processing for reports received from different countries.
Most account entries can be made automatically in book-keeping by combining the company's general ledger with the specifier or transaction code given on the account statement and by utilising the party data in debits and credits.
Besides a Finnish entry specifier, an XML account statement conveys a BankTransactionCode in line with the ISO 20022 standard.
- The data contents of account entries are the same irrespective of the country.
- The same processing rules apply to the account reports of different countries.
In order to be able to download an electronic account statement, you need a Corporate Netbank agreement with Nordea or a bank connection program. If you use an accounting agency, you can agree with them on downloading the statement for you. The use of the electronic account statement requiring a written agreement made at a Nordea branch.
- The account statement can be already retrieved and printed in the early hours of the day following the entry date.
- You can transfer the account statement as such to your company’s systems.
- Easy to handle and file.
- In terms of book-keeping, just as valid as a paper statement.
The new international XML messages will in future be used in the financial administration processes. This will ensure the conveyance of data given in SEPA payments from payment systems to ledgers and book-keeping.
Discuss with your system supplier when your company should start using the XML account statement. The use of the account statement based on the national standard alongside the XML account statement is possible in order to make the changeover as smooth as possible.
- You get the full benefit of End to End Straight Through Processing.
- You will receive the same information back in the same format as in the payment.
- Transaction details will provide more information, such as the identifiers of the original payer and the ultimate payee.
Account statements from abroad
With the Balance Reporting service, you can easily download via SWIFT the account and transaction statements as well as the balances of your company's accounts in Nordea's units or other foreign banks.
- Monitoring your receivables becomes easier.
- The management of your liquidity becomes more efficient.
- You get account information quickly from abroad.
- It is easy to monitor the balance and transactions of your company’s foreign accounts, already during the entry date.
Account statements abroad
It is possible to transfer account information on accounts with Nordea Bank Finland via SWIFT to other financial institutions as well.
The following report types are available:
- Account statement - MT 940 Customer Statement Message
- Balance statement - MT 941 Balance Report
- Transaction statement - MT 942 Interim Transaction Report
- Further details of SEPA credit transfers are also conveyed in the statements.
Transaction-specific data can be transmitted on an electronic account statement or in a separate file.
Account reports are available as file formats of the national standard and the XML format based on the ISO 20022 standard.
Select the reporting manner and file format on the basis of your financial administration program's facilities.
Incoming payments to your ledger
The most efficient way of matching with an incoming payment to an outstanding invoice is a reference.
You can agree on receiving the reporting of reference payments in a separate file or in an account statement among other transactions.
Paid invoices to your ledger
Payments sent through the Corporate Payments Service are reported on an electronic account statement.
You can acknowledge invoices using their total amount or by transaction, invoice by invoice.
A reference number should always be used in invoicing. With a reference number your company will identify the incoming payment and the payer.
Calculate the reference numbers for your invoices by using the reference calculator behind the link.
- With the reference number, you can specify the payment transactions easily and match them with the correct invoice in the ledger.
- The easiest way to receive reference payments to your ledger is a file that you can download in Classic Netbank, for example.
- You can also follow up on and control reference payments from an account statement if your company does not have accounts receivable.
XML reports are based on the ISO 20022 standard, which is used for transferring SEPA payments between the customer and the bank as well as between banks.
The XML report of incoming reference payments includes more information than the national format.
Discuss with your system supplier when your company should start using reporting of reference payments in the XML format.
Find out at the same time whether it is worthwhile for your company to start using the international reference in invoicing.
- You get all sales invoices together in one file with which you can update your ledger.
- In addition to the reference, party data makes identification of the payers easier.
- Control and reconciliation will in the future function by the same principle irrespective of the account or the country of the payer
If you send invoices abroad, print a Finnish reference in the international format in your invoices. This will help foreign trading partners get used to the standardised reference and it will be easy to match the paid invoices in the ledger.
With Nordea's reference calculator, you can generate international references for your invoices so that they comply with the rules of both the Finnish and the international reference.
- You can also use the reference in cross-border invoicing.
- The identification of payers becomes easier especially in the case of foreign trading partners.
- The control and reconciliation of payments become more efficient.
Please read the terms and conditions of the service before making the agreement and starting to use the service.
Terms and conditions:
Please read the service descriptions before making the agreement and starting to use the service.