Set up and process bank feeds
Sage Bank Feeds facilitate the automatic, secure transfer of reliable transaction data from leading banks to Sage One. Bank transaction data flows seamlessly each day from your bank into Sage One. By using Sage Bank Feeds, manual data entry processes are eliminated to give you time savings, error reduction, more accurate financials and a more up-to-date view of your cashflow.
Before you set up bank feeds, you should:
- Check your bank is compatible and have your online banking credentials to hand.
- If you’re in the middle of importing a bank statement, complete this to avoid duplicating transactions.
- 1. Banking > click the required bank account > click Connect to Bank.
- 2. Read the terms and conditions > to accept them, select the check box > Continue.
- 3. Enter the name of your bank > Search > select your bank > enter your online banking credentials.
The credentials are the same details you use to log in to your online banking website. If your bank uses multi-factor authentication, you’re asked to enter further security details.
- 4. Add > Close > select the account you want to connect to > Continue.
- 5. Enter the date you want to download transactions from.
You can normally download transactions from the last 90 days but this depends on your bank. If today’s date appears, it means it can’t retrieve transactions before today. Going forward however, you’re able to download transactions from this date and any new transactions appear on the Banking tab.
- 6. Click Finish.
Your live bank transactions download and appear in Sage One ready for you to process. The process may take several minutes to complete.
Your bank feeds normally refresh once every 24 hours, depending on your bank account. New transactions automatically appear in the Banking tab for the relevant bank account. Simply click the new transactions link.
You can refresh your bank feeds manually once every 15 minutes by clicking the refresh button for that bank account.
If you use multi-factor authentication, you’re prompted to enter your security details before you can check your new transactions.
When new transactions appear, you can do the following:
|Match||Sage One automatically matches any sales invoices, existing payments or receipts recorded with the same date and value as the imported transaction.
If the match found is correct, click Match.
The payment or receipt is automatically flagged as bank reconciled or checked.
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 Sage One doesn’t find a match you can search for any transactions 14 days prior to 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 in Sage One.
If you need to, change the following details, then click Create:
|Transfer||Use this option to transfer the value from or to the selected bank account.
Enter the following details, then click Transfer:
|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.
Bank feeds – Supported banks and credit card companies
Turn off bank feeds
Bank feeds – Frequently asked questions
Bank feeds – Common error codes
Bank feeds and Internet browsers
Bank feed status page