This article only concerns self-employed individuals.
For companies, BILLY uses the CODA system (codified bank statements) rather than PSD2. This Belgian standard makes it possible to obtain more complete statements, which facilitates accounting processing for companies.
ππ» To start synchronisation, click here: how do I synchronise my pro account?
Secure via GoCardLess π
When you add a bank to BILLY, you are redirected to your bank to give your authorisation (a specific screen opens). In reality, you are giving a read authorisation to our service provider GoCardless, which acts as an intermediary.
GoCardLess is the service provider that connects securely to your bank. It is accredited to connect to banks via the European PSD2 standard (it works with the same security standards as a bank). Hundreds of banks in Europe are accessible via their service (find out if your bank is available directly in the BILLY application by adding a bank).
It is GoCardLess that provides us with your transactions. This means that BILLY can only consult your account and cannot make any payments.
European standard PSD2
π Right to read only
By giving your authorisation, you are giving GoCardless (and therefore BILLY) the right to read your transactions. It is therefore impossible for BILLY to issue a transfer.
ποΈ Renewal of authorisation
The connection with your account remains active for 180 days. After this period, you will need to renew the authorisation. You will be notified in BILLY and the operation is very simple (similar to the 1Κ³α΅ connection).
β Suspend authorisation
You can also suspend authorisation at any time. Simply send us a message in the live-chat.
Data processing at BILLY
centralization of the pro account in your accounting system
Your banking transactions from GoCardless are stored on our secure servers. This means you have centralised accounting in one place at BILLY.
You can view your bank transactions and account balance directly from BILLY. You can add comments on your transactions to better organise your pro account.
π‘ The financial journal is a mandatory accounting book. It contains a list of all your professional banking transactions. This is how you collect your bank journal on BILLY.
π οΈ Additional features: categorisation
Transactions can be categorised. This has several advantages:
If you are self-employed and exempt from VAT, your income is based on receipts and not sales invoices. You are obliged to categorise your transactions in order to declare your income. In this case, BILLY helps you to automate this management.
For all self-employed people, categorising transactions helps to organise your accounts. Thanks to the links with invoices and payments, you can monitor the payment status of your sales invoices and detect, from a transaction, if the expense invoice has not been imported.
ππ» Why categorise your transactions?
Free for BILLY customers
The service is completely free for BILLY customers. BILLY covers the connection costs. In this way, you avoid the high charges applied by Belgian banks to CODA (old-style electronic account statements - a system that is set to disappear).
If you have any further questions, don't hesitate to get in touch with us via the live-chat at the bottom right! π
See you soon π