How To Link Sage 50 to Bank Account?
There is a feature of bank feeds in Sage 50 which can integrate with your bank account via the third party. The Sage 50 accounting application integrates the feature of your bank feeds automatically. This bank feeds allows you to link the Sage 50 to your Bank Account so that the banking transactions are easily imported into the Sage 50 application. This is a free feature for the Sage users. It decreases the manual entry by up to 80% and streamlines the bank reconciliation. Moreover, it helps you to view as well as compare the banking information in real-time and enhance the accuracy of the account.
Step to Set Up the Bank Feeds
Before setting up the bank feeds, make sure you have the Sage Account number that appears on all invoices that you may have from the Sage software and the Serial Number of your software. The software serial number can be seen by clicking the Help section-> then go to the “About” section of the software. You are blocked while accessing the window if you have started setup procedure without shutting down the screen and then restarted again.
In order to set up the bank feeds for the first time:
1. Visit the Bank section of the Sage software
2. Click the Bank Feeds option
3. Bank Feeds dialogue box will open and shows “Let’s get started” option
4. Now click on the “Let’s Get Started” button
Sign in to your Sage with the Sage ID (it helps you to utilize all the Sage Services with one single username. In case you haven’t set up the Sage ID, then you will have to set up now)
SAGE 50 Bank Feeds Settings
Important: The software may seek your authorization for the bank feeds in order to interface with your information to proceed further. The window will ask your Sage Account number with your serial number prior to starting the procedure. This enables you to register for your Bank Feeds.
1. Choose the Bank Account by clicking on the Add button in the bank account screen
2.Enter the bank name
3.Select the new bank account in sage 50 right from the list
4. In case the bank account is not appearing under the drop-down list menu then click on the Search button-> Choose the bank right from your Matching Results list.
5. Enter the login details of your bank then click the Add button-> then Close.
6. Choose the Bank account
7. Choose the account that you need to use
8. Click on the OK button -> then close
Moreover, you must be able to download the banking transactions into the Sage 50 every 15 minutes.
1. Go to the Bank Accounts
2. Select the bank account -> then click the Bank Feeds
3. Now download the transactions
What Next?
Click on the Bank Accounts section > Choose the bank account > then select the Bank Feeds and download the transactions.
After downloading, it will appear in the Transactions from the bank sheet. You would now be able to see your live banking transactions with those that you have posted in your Sage 50 Accounts. You can reconcile the current transactions and if needed, make new ones.
In case you need to know more about it, then reach our Remoteaccounting247 Sage Technical Support team on +1-844-857-4846. It is a 24*7 operational Sage tech support helpdesk.
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