Bank feeds - Frequently asked questions

To help you with any bank feeds queries you may have, we’ve put together a list of common questions.

Does activating bank feeds compromise the terms and conditions of my online banking service?

We recommend that you confirm with your online banking service provider whether using the service compromises the terms and conditions of use.

Where are my online banking login details stored?

Your online banking service credentials are held by Yodlee, a third party company. Your details aren’t stored in your Sage One service, or by Sage.

Yodlee are certified as a Payment Cards Industry (PCI) Level 1 Service Provider and have EU Privacy Safe Harbor certification. For more information about data security, please visit www.yodlee.com

What is multi-factor authentication ?

This is an extra level of security many banks require when you log in to your online banking service. You’re requested to enter further security details, for example a security code, pin number or passcode, when using bank feeds and downloading transactions.

I’m an accountant, can I use bank feeds on my client’s behalf?

Once your client connects their Sage One bank account to their online banking service, you can import transactions on your client’s behalf.

If your client’s online banking service uses multi-factor authentication, they must enter the requested security details each time before transactions are retrieved and downloaded.

Why should I allow cookies?

Some websites or web pages don’t work as expected unless you accept cookies. For example, you may not be able to log in to a website, even though you’re using your correct details.

To avoid problems linking to your online banking service, you should check your settings allow cookies from other websites, including Sage One.

Can I turn off bank feeds?

If you decide you no longer want to use bank feeds, you can disconnect your service.

What should I do if I open a new bank account?

If you move to a different bank and open a new bank account, you must turn off the bank feed for your old account and set up a new one.

You must also be set up for online banking with your new bank and know your online banking credentials.

Can I control another user’s access to bank feeds?

If you’re the owner of the Sage One Accounting service you can restrict access to the bank within User Settings for the selected user.

How can I check if my feed is working?

You can check from our bank feed status page. We update this daily to confirm the status of bank feeds from different providers.

How do I fix common bank feed errors?

To help you to resolve common bank feed errors, you can check common error codes for further information and troubleshooting tips.

What should I do if I have a bank feed with more than one VAT rate?

If you’ve downloaded a receipt or payment using bank feeds and it has multiple VAT rates, you can use the split transaction option and choose the different VAT rates.

Can I import a bank statement from an earlier period if I’ve set up bank feeds?

If you’ve linked to your online bank account, but find you need to enter information before the earliest date your bank feed allows, you need to disconnect your bank feed , then import your bank statement.

Once you’ve imported your bank statements up to date, you can then reconnect your bank account and import your transactions via the live bank feed.

Once you disconnect your bank feed, any transactions that are currently available to download don’t reappear when you connect back to the same bank feed.

I can’t find the nominal account I need when I’m creating a transaction from a bank feed

To find the nominal code you need to allocate your transaction to, start typing the name of the nominal account. This narrows down the list and you can choose the relevant code.

Why doesn’t a transaction I’ve entered in Sage One appear in bank feeds?

When you download your bank feeds, if the transaction already exists in Sage One, you’re prompted to match it. You can only match transactions from 14 days prior to the date of the transaction and up to 7 days in advance. If the transaction you entered in Sage One doesn’t fall into this date range, it doesn’t appear. Instead, you should discard the transaction and carry on matching the rest of them as normal.

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