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Banks Glossary
Banks Glossary

An explanation in time can improve a process. Discover the key concepts of Banks and take advantage of this section from end to end.

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Written by Rocío
Updated over a week ago


Holded's Accounting Box

Refers to cash on hand. Shows the balance and transactions of the box along with the information of the associated ledger account and the cash flow (receipts and payments).

Bank reconciliation

It is a process that allows you to post all payments and receipts that you have on your bank statement. By doing so, the data available in Holded will reflect a true and reliable image of the accounting situation of your business.


SEPA (Single Euro Payments Area) data

SEPA is an initiative of the European Union to facilitate payments in the Eurozone. The 28 EU member states participate, along with Iceland, Liechtenstein, Norway, Switzerland, Monaco and San Marino. SEPA served to create a single market for euro payments that made payments in the eurozone easier and cheaper. Today, it is possible to make bank transfers and direct debits between economic agents in these 32 countries.



The initials ID come from the English word Identification which translated into Spanish means Identification. In the case of Holded, the ID is the code that identifies you to the SEPA system as a direct debit presenter. Therefore, if you do not know what your ID is, you should ask your bank.


Payments and collections

All new movements in your bank accounts are recorded in the payments and collections section. These movements can refer to advances and collections as well as payments made. It is worth clarifying that advances and receipts will be reflected with positive numbers, while payments made will be shown as negative amounts.



Remittances are documents that are created to settle the sale of any type of merchandise. In Holded, these documents are uploaded to the bank which, upon receiving the order, is responsible for executing all collections or payments with customers or suppliers. In the case of collection remittances, a file is generated where all the invoices that are to be domiciled in the customer's account are loaded.

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