Set up Sage bank feeds

Sage bank feeds is a free secure service that you can use to download your bank transactions to Sage 200, 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.

How it works

Sage bank feeds connects to your bank and downloads details of the transactions from your bank account into Sage 200.

Once downloaded, you can match them to the existing transactions in Sage 200, or create new transactions in Sage 200 if something is missing. This means that transactions in your live bank account are reflected in Sage 200. Sage 200 will remember which transactions you have matched, ready for your next bank reconciliation.

Changes for Open Banking

Open Banking (PSD2) is a new secure way for you to share financial information from your bank with companies like Sage that offer banking and payment apps, and is designed to give you greater control over your financial data.

These changes come into effect on 5 March 2020 and to comply with the new standards, connections between some banks and Sage will change.

To check how this affects your bank, see this article Open Banking - Check the status of your bank feed.

Supported versions

Sage bank feeds is supported on these versions of Sage 200 Professional:

  • 2020 R1, and all later versions.

  • Summer 2018 RM.

  • Summer 2017 RM.

FAQs

Before you start

It's easy to set up Sage bank feeds, but before you start there are a few things you will need to do.

Enable Sage bank feeds

You can't set up Sage bank feeds for a cash book account if:

  • The cash book account already uses Supplier Payments (Sage Salary and Supplier Payments).

  • The cash book account is set up for reconciliation using e-Banking, with E-Banking functions set to either Bank reconciliation only or Both payments and bank reconciliation.

    You can still use e-Banking to generate payments for suppliers, if E-Banking functions is set to Payments.

Open: Cash Book > Cash Book Accounts > Amend Bank Account Details.

  1. Choose the cash book account that you want to set up for Sage bank feeds.

    Note: To enable Sage bank feeds, you must have user access to amend the cash book account.

  2. Move to the E-Banking tab.
  3. In the Sage Bank Feeds section, select Enable.

  4. Follow the steps to in the Sage Bank Feeds wizard. This is where you enter the details of your bank account.

  5. When you've finished, you will need to download a form to print and complete. This authorises Sage Bank feeds to connect with your bank account. You can either:

    • Post the form to the address listed in the form, which may be to your bank or Sage.
    • Fax the form to the number provided in the form, which is a secure electronic fax mailbox.

    Tip: If you forget where you saved the form, the PDF file is saved in the Attachments tab for this cash book account.

  6. Wait a few days for your bank to receive and process your request, then come back to check the status of your bank account.

    Once your bank has authorised your application, the status will change from Pending to Active and you can start using Sage bank feeds to download transactions.

User access for Sage bank feeds

You may want to control user access for who can set up a bank account, and who can reconcile transactions.

Open: System Administration.

  1. Open Roles.
  2. Right-click the role name and choose Features.

  3. To allow a user to enable Sage bank feeds, ensure that they have access to:

    Cash Book > Advanced > Amend Bank Account Details

  4. To allow a user to download and reconcile transactions, ensure that they have access to:

    Cash Book > Advanced > Amend Cash Book Account Details

    Cash Book > Advanced > Bank Feeds Download Transactions

    Cash Book > Advanced > Bank Feeds Reconciliation

Troubleshooting

Migrate Sage bank feeds from Sage 50cloud Accounts

If you have previously used Sage bank feeds in Sage 50cloud Accounts, you can migrate your account to Sage 200.

Note: If you have already set up bank feeds Sage 200, this will be replaced with the account details that you used for Sage 50cloud Accounts.

  1. When you migrate bank feeds from Sage 50cloud Accounts:

    • You will download and save a migration key file (*.json).
    • You will choose a password for the migration key.
  2. In Sage 200:

    Open: Cash Book > Utilities > Cash Book Settings.

    1. In the Migrate Sage Bank Feeds section, enter your migration key Password.

    2. Select Migrate, and browse to the migration key file (*.json) that you created from Sage 50cloud Accounts.