Bank connection

How do I link my bank with Billit?

 

One of the most important Billit features is the bank connection. It will automatically check if a purchase or sales invoice has been paid. This means you no longer have to cross-reference each invoice with hard copy bank statements or your banking software. The bank connection also gives you insight in your company's financial situation via the dashboard. Your transactions are retrieved from your bank(s) and appear in the 'Bank' menu. Billit will try to link every incoming transaction to a sales invoice and every outgoing transaction to a purchase invoice. The software can also automatically send reminders. First, you'll have to link your Bank to Billit. There are different options:

 

Connection Ponto BillBank BillBank/ING CodaBox KBC
When are transactions visible? Immediately When your bank has processed the mandate (+/- 5 days)** When your bank has processed the mandate (+/- 5 days)** In 1 or 2 working days In 1 or 2 working days
Technology PSD2 CODA CODA CODA CODA
History available No No No No
When is it active? Available immediately  After verifying bank accounts  After verifying bank accounts After verifying bank accounts After verifying bank accounts
How to activate Bank > Automate Via company details Via company details Bank > Automate Via KBC Touch
Pricing* Monthly subscription fee with Ponto Free Free Set-up cost + monthly subscription fee with Codabox Free

(*): Please note: Your bank might charge an additional fee for certain subscriptions. Please contact your bank for more details.
(**): Due to the large number of Billbank requests some banks may need up to 7 working days to process your application.

 

 

Billit online platform voor e-facturatie

The first option to import your digital bank statements is via Billbank. You'll need to give Billit a mandate to request your digital statements from your bank**. After that, Billit will import your statements on a daily basis. This option is free*. If you want to link an ING bank account you can import your payment files directly in your online bank environment when paying your purchase invoices.

Manual

Manual ING

 

 

 

Billit online platform voor e-facturatie

The second option is importing your digital bank statements via Codabox. As an entrepreneur you might already have an account via your accountant. In that case you can request a token from Codabox to import your files. If you don't have an account yet, please contact your accountant to sign a mandate and give Codabox permission to request your digital bank statements from your bank. A Codabox subscription consists of a one-time start-up fee and a monthly subscription fee*.

Manual

 

Billit online platform voor e-facturatie

Do you have a KBC business account? Then you can import your digital KBC bank statements in Billit for free via the KBC integration. Please note that this is only for KBC. If you have an account with a different bank you can still use one of the other options.

Manual

 

Billit online platform voor e-facturatie

The final option to import your bank statements is Ponto. Unlike the other methods, Ponto doesn't work with coda files but according to the new PSD2 guidelines which regulate sharing digital bank details in Europe. This means that you bank statements can be imported real-time. A Ponto subscription requires a monthly subscription feet*.

 

Manual

(*): Please note: your bank may charge a supplement on top of your bank subscriptions. Contact your bank for more details.

(**): Due to the large number of Billbank requests some banks may need up to 7 working days to process your application.