The Sage 50 comes with a bank feed feature, which integrates the live bank account into the software. This helps in lowering the time spent on making or entering transactions, and also simplifies the bank reconciliation process.
With up-to date records, all the financial accounts will be tight and tied up without any hassles. The Bank feeds can be incorporated using a simple and easy procedure.
However, take care that you enter all the essential information correctly to avoid any errors or issues. You can also have a Sage tech expert with you when making the bank feeds for the first time.
How to Include Bank Feeds in Sage 50 accounts?
The bank feeds option is available for the Sage 50 Accounts, V22 and above versions and helps you in:
- Getting the live bank account transactions by downloading them and comparing them with Sage 50 accounts
- Matching the bank transactions with the Sage 50 accounts and also identifying missing transactions
- Also set rules to have automatic postings made from the bank account to Sage 50 cloud accounts
The bank feed basically helps in reducing a considerable amount of time when compared to doing all that and above, manually.
Before beginning to include the bank feed, check whether:
- The bank account is compatible with the bank feeds
- You have all the updates of the software downloaded and installed
- If you have the software version which has the bank feed option
- You have the sage account number and Serial number
- You have all the banking details
Incorporating Bank Feeds in Sage 50 Software
- From the Navigation bar, select Bank Accounts and click on Bank feeds
- Now, select ‘Let’s Get Started’ and when prompted, enter the Sage ID and login details and select Allow
- Again, enter the Sage Account Number and the Serial Number and click on Register
- Now, it will ask you to select a bank account. When the bank account window shows up, click Add besides the appropriate bank, and type the Bank Name, and from the accounts displayed, select the bank account.
- Enter the login details for your online banking account, and click Add to add the account and close.
- Now, from the ‘Select Bank account’ window, select the type of account you are using, and click Ok>Close
- You now have the bank feeds stored in the Sage and can operate by downloading transactions from it directly.
How to download transactions from Bank feeds?
To download transactions:
- From the navigation bar, click on ‘Bank Accounts’ and select the bank you are using, and click on Bank Feeds
- Now, select Download Transactions, and click to select the date of earliest transactions you wish to download and click OK
- The Live bank transactions will show up on the Bank pane on Sage 50 software.
The bank feeds feature saves a lot of time and effort in reconciliation, checking or verification of accounts, and in matching them up anytime you require. For any assistance in setting up bank feeds or to know more about its features, call our Accountsportal Sage tech support toll-free number ✆+1-800-796-0471 for assistance.
The Sage technical support experts in Accountsportal Sage helpdesk are available 24/7 to answer all your queries regarding the Sage 50 software and related products.