Connecting an account to Sage Bank Feeds
Matching bank feed transactions with Sage 100 Contractor transactions
About Sage Bank Feeds
Sage Bank Feeds enables you to download transaction records from your bank and let Sage 100 Contractor automatically match transactions from your bank with transactions entered in your Sage 100 Contractor system. If you download transactions for the same period as your bank statement, you essentially have an electronic copy of your bank statement.
This automated matching process removes much of the tedium of bank reconciliation and ensures that your company records match the transactions processed by your bank.
How it works
In the 1-5 Bank Reconciliation window, you select the account that you want to set up to use bank feeds, and the date of the statement you are going to reconcile. Then, you use the Connect to Bank Feeds option on the menu to establish a secure online connection with your bank and download transactions.
Depending on which bank you use, Bank Feeds links to your bank using either the Sage Direct Bank Feeds service or a secure, third-party data aggregation service, such as
Note: If you use Plaid or Yodlee to access your banking data, you must also provide them with your online banking credentials. To protect this sensitive information, your credentials are not stored by Sage or available within Sage 100 Contractor.
After downloading transactions from your bank, you match them to Sage 100 Contractor transactions in the Match Banking Transactions window, also available from the Bank Feeds menu. You also use this window add new transactions that your bank may have processed to your account, such as interest charges or bank fees, that are not yet recorded in Sage 100 Contractor.
Using Sage Bank Feeds to reconcile accounts involves the following general steps:
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Connect your Sage 100 Contractor bank account to Sage Bank Feeds.
See Connecting an account to Sage Bank Feeds for more information.
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In the 1-5 Bank Reconciliation window, download the bank transactions for the bank statement you want to reconcile.
Note: You click [] to download the transactions.
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Use the Match Banking Transactions window to:
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Match transactions from the bank feed with your Sage 100 Contractor bank account transactions. (Sage 100 Contractor matches many transactions for you, but you may still need to reconcile some transactions manually.)
- Enter any transactions missing from your Sage 100 Contractor account, such as bank processing fees or interest charges.
Note: You click > Match Banking Transactions to open this window.
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