Sage bank feeds is a free secure service that you can use to download your bank transactions to Sage 200cloud, to help you reconcile your bank account.
This reduces the time that you spend reconciling your bank transactions, and ensures your accounts are up to date and accurate.
You can also use bank feeds rules to automatically enter transactions and save time during reconciliation.
How do bank feeds work?
Sage bank feeds connects to your bank and downloads details of the transactions from your bank account into Sage 200cloud.
Once downloaded, you can match them to any existing transactions in Sage 200cloud, or create new transactions in Sage 200cloud if something is missing. You can also create these transactions automatically using bank feeds rules. This means that transactions in your live bank account are reflected in Sage 200cloud. Sage 200cloud will remember which transactions you have matched, ready for your next bank reconciliation.
Setting things up is easy. We'll help you by providing the form you need to send to your bank.
Bank feeds FAQs
Yes. Sage bank feeds is a completely free service - you don't need a subscription, and there are no fees.
What are bank feeds rules?
Bank feeds rules help make data entry and bank reconciliation even easier.
When you reconcile your bank transactions, if the downloaded bank transaction is missing from Sage 200cloud, you have to create these transactions in Sage 200cloud.
You can use bank feeds rules to automatically create transactions in Sage 200cloud for your bank transactions that you download from Sage bank feeds. This saves you time entering transactions, and helps you reconcile your bank accounts more efficiently and reduce errors.
Bank feeds rules look for certain details in the downloaded bank transaction, and then create the matching transaction in Sage 200cloud. For example, if you make regular payments to a particular supplier, you could set up a rule to that matches that supplier's name as it appears in your bank transactions, and then create a corresponding payment to that supplier account in Sage 200cloud.
When you download bank transactions from Sage bank feeds, your bank feeds rules check all the bank transactions, and then create any corresponding transactions in Sage 200cloud.
Bank feeds rules can be set up to create customer receipts and payments, supplier payments and receipts, and nominal transactions.