Process your downloaded transactions

Once you’ve got the bank feeds service up and running, you’ll no longer need to download and import bank statements manually. Your bank transaction data flows each day seamlessly from your bank directly into Sage, giving you more time to manage and grow your business.

When new transactions appear, you can do the following:

Match Automatically matches any invoices and existing payments or receipts recorded with the same date and value as the imported transaction.

If the match found is correct, click Match.

If you match it to an invoice or credit note, this flags them as paid, and the payment or receipt is flagged as cleared and bank reconciled.

If the match isn’t correct, you can choose to create a new transaction, transfer it to another account, or discard it.
Find a match If a match is not found, you can search for any transactions 14 days before the date of the imported transaction and 7 days in advance.

* Click Match, then Find a match. Select the transaction you want to match it to, then click Confirm Match and Confirm Match again.
Create Use this option to create a new transaction.

If you need to, change the following details, then click Create:

  • For – If applicable, choose a contact.

  • What – Choose the ledger account you want to record this payment or receipt against.
  • Reference – This is the same as the reference on your statement. However, you can change this if you want to.

  • Tax code – If applicable, choose the relevant VAT rate. This option only appears if you’re registered for VAT.

Transfer Use this option to transfer the value from or to the selected bank account.

Enter the following details, then click Transfer:

  • Transfer From or Transfer To – Choose the relevant bank account.

  • Reference – This is the same as the reference on your statements. However, you can change this.

Discard If you don’t want to import a transaction, for example, because you’ve already entered and bank reconciled it, click the discard button then click Yes when prompted.

Once you’ve processed all of your transactions, click Return to banking.

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