Sage 50 Bank Feeds
Bank feeds is another excellent feature in Sage 50 that allows users to integrate with the live bank account. It reduces the amount of time spent entering transactions, makes bank reconciliation simply, and make sure the accounts are accurate and up to date.
How does Sage 50 Bank Feed?
- Bank Feeds links and downloads the transactions of a live bank account. You can compare those transactions to existing Sage Account transactions.
- With Sage 50 Bank Feed match the bank transactions with those in the Sage Accounts, then create missing transactions. Once the matches are confirmed, the transactions are flagged as matched in the Reconcile option.
- It allows you to set up your own rules in creating automatic postings in the bank account. As a result, the time spent entering the transactions is reduced and the bank reconciliation is simplified ensuring the accounts are accurate and up to date.
Setting Up Sage 50 Bank Feeds
Before setting up Sage 50 Bank Feeds, ensure you get the Sage Account number and the Sage Software Serial Number. Also, remember that you cannot access another screen once the setup process has started. You will have to close the window then only open to another screen.Once you have successfully acquired the Sage Account number and the Software Serial Number, you will be able to easily download the bank transactions into your Sage 50. Take the following steps to do so:
- Open to Bank Accounts
- Select the bank account you are using
- Click on Bank Feeds then download the transactions.
