Matching Bank Feed transactions with Sage 100 Contractor transactions
After you download transactions that your bank has processed to your account, you need to reconcile them to your Sage general ledger account.
Automatically matching bank transactions with Sage transactions
After you download bank transactions, the Match Banking Transactions window appears. Automatically matched transactions are displayed in the bottom portion of the Match Banking Transactions window.
The program automatically matches bank transactions with transactions in Sage 100 Contractor if they:
- Are unique (very similar or duplicate transactions cannot be matched automatically).
- Have the same payee and amount.
- Are dated earlier than the corresponding bank transaction.
If one Sage general ledger transaction matches a downloaded bank transaction, it is moved to the list of matched transactions at the bottom of the window.
If there are multiple potential matches, you receive a message that tells you that the associated Sage transactions remain open (unmatched).
Manually matching transactions to finish the reconciliation
To finish the reconciliation, you match any transactions remaining in the top part of the window manually.
Select each unmatched banking transaction on the left side of the window, and then click the corresponding Sage 100 Contractor transaction (or transactions) on the right side of the window.
Use the buttons on the window to finish the reconciliation as follows:
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Remove. You use this button to remove a selected transaction from the bank transaction list. For example, if you downloaded a bank transaction that you reconciled previously, it is no longer outstanding, so you can simply remove it from the transactions to be reconciled.
Note: Removing the transaction from the bank transaction list does not affect your Sage 100 Contractor transactions.
If the transaction was matched previously, the Sage 100 Contractor transaction will appear in the 1-5 Bank Reconciliation window as a manually matched transaction.
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Add to Sage. You use this button to add a selected bank transaction to your Sage 100 Contractor ledger using the Post Bank Transaction to Sage window. You can add the following typical bank transactions:
- Bank fee
- Bank service charge
- Bank interest paid
- Bank interest earned
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Match. When matching bank transactions manually, you can select one or more Sage transactions. (To select several Sage transactions, hold the Ctrl button down as you select transactions from the list.) When the amount of the selected Sage transactions equals the bank transaction, the Match button becomes available.
Note: The bank transaction type (Deposit or Payment) must match the type of Sage transaction selected, or you will not be able to match the transactions.
Clicking [] moves the selected transactions to the list of matched transactions.
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If you make a mistake while matching, or if an automatic match is not correct, you can select the matched bank transaction, and then click [] to remove the bank transaction and the Sage transaction(s) from the list of matches, restoring the transactions to the upper part of the window where you can match them with other transactions.
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You can click this button whenever you have matched transactions that you want to add to the 1-5 Bank Reconciliation window.
When you click this button, you are returned to the 1-5 Bank Reconciliation window.
Sage 100 Contractor displays the results in the grid in the 1-5 Bank Reconciliation window, and marks automatically matched transaction with a double check mark, indicating that they have been cleared through the Bank Feeds reconciliation process.
If you clear the check marks for a transaction, both the bank transaction and the previously matched Sage transaction are restored to the Match Banking Transactions window, where you will need to match them manually.
If you click > after beginning the reconciliation process, the Match Banking Transactions window appears showing the current state of reconciliation, until you save a Final reconciliation for the period.
Saving the bank reconciliation
When you save a reconciliation, you can save it as a Trial version or a Final version.
- If you save a Trial reconciliation, when you next display the account, if you click [], all previously matched transactions, as well as any new transactions, are displayed in the 1-5 Bank Reconciliation window.
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If you save a Final reconciliation, previously matched items are no longer available for reconciliation.
Providing you have not done a Final save of the bank reconciliation, you can click > at any time to return to the Match Banking Transactions window and continue the reconciliation process.