Case category//How do I...//banking/reconciliation
Author:
andy.rickeard@sage.com
Set up e-Banking
Description
If you use compatible bank software or a compatible bank's website, you can use e-Banking to connect it. This enables you to process e-Payments and e-Reconciling.
TIP: Click the company you're working in to view a list of all compatible banks and their e-Banking components:
After you select the bank type, click Configure then edit the details of your electronic banking. For more information about this, please refer to the section Configure your bank account.
NOTE: You must install the component on each computer that will use e-Banking.
Account Details
Account Name
The name of your bank account. You must enter this to use e-Banking.
Account Number
The bank account number. This is usually 8 digits but you can enter up to sixty characters.
Sort Code
The bank sort code. You can enter the sort code as a 6 digit number or with dashes. For example, 112233 or 11-22-33.
Expiry
If this account is for your company credit card, enter the expiry date of the card.
BACS/SEPA Ref
Enter your reference number to make payments via e-Banking. The reference is to identify the payer.
IBAN
If your bank issues you with an International Bank Account Number (IBAN), enter it here. This is a specific format of the bank account number to make transactions between European countries easier, to help reduce errors and delays.
You must use an IBAN to make or receive payments across country borders in the European Union (EU), European Economic Areas (EEA) and Switzerland.
You always use an IBAN in conjunction with a Bank Identifier Code (BIC).
With an IBAN, additional characters appear in front of an existing bank account number and sort code. This complete combination of additional characters, existing code and account number together make up the IBAN.
BIC/Swift
If your bank notifies you of a Bank Identification Code (BIC) number or swift code for this bank account, enter it here. The BIC or swift code is to identify financial organisations.
If this is your default company bank account, this information appears beneath your company name and address on any invoices and orders you print.
The BIC is either 8 or 11 characters, including a bank code (4 characters), country code (2 letters), location code (2 characters) and an optional branch code (3 characters).
If your building society notifies you of a Roll Number for this account, enter the number.
This is an additional reference some building societies use.
Additional Ref
Use this box to enter any additional information you receive relating to your bank account.
Enter any text, up to three lines of sixty characters.
Click Save, then click Close.
Configure your bank
Click Bank accounts, select the relevant bank account, then click New/edit.
Click the Bank Details tab, then click Configure and complete the Sage eBanking Configuration window as follows:
NOTE:The information required to configure the e-Banking option depends on the bank type you choose from the drop-down list. Some of the following options may not be available depending on which banking software you select.
Common directory
The directory where the e-Payment files and e-Reconcile statement files save to appears here.
C:\ automatically appears. To amend this, enter the path to the data or click Browse to locate the directory.
Override common directory
If you don't want to use the same directory for e-Payment files and e-Reconcile statements, select this check box.
NOTE:If you select this check box you must complete the Statement Reconciliation Service and Payment file options directories.
Statement Reconciliation Service
This is the directory where the statement files from your banking software save to, before you import into e-Reconcile.
C:\ automatically appears. To amend this, enter the path to the data or click Browse to locate the directory.
You can also enter the file extension your banking software saves the statement files as, for example, TXT. This ensures only files with that extension appear in the Import window.
Payment file options
This is the directory, file name and extension of the e-Payments file that your on-line Banking software uses.
C:\ automatically appears. To amend this, enter the path to the data or click Browse to locate the directory.
NOTE:If you don't enter a File Identifier the file name is the the date in the format DDMMYYYY, for example, 01092019. You can view our help guide for further information on the file format for your bank. You can use our handy How to process e-Payments guide to do this.
Click OK, then click Save and click Close.
Set up the supplier records for e-Payments
Click Suppliers, then select the relevant supplier account and click Edit.
Click the Bank tab and complete the Supplier Bank Details as follows:
Bank Details
Bank Name
Enter the supplier's bank name.
Address
Enter the supplier's bank address.
Account Name
Enter the supplier's bank account name.
Sort Code
Enter the supplier's bank sort code. You can enter the sort code as a 6 digit number or with dashes. For example, 112233 or 11-22-33.
Account Number
Enter the supplier's bank account number. This should be 8 digits.
Payment Details
BACS/SEPA Ref
If you have the supplier's BACS reference you can enter it here.
IBAN
Stands for International Bank Account Number. You must use an IBAN to make or receive payments across country borders in the European Union (EU), European Economic Areas (EEA) and Switzerland. You always use an IBAN in conjunction with a Bank Identifier Code (BIC).
NOTE:This is for information only which you can then use in your reports.
BIC/Swift
The code is a standard identifier for banks and you should use it on all international payments.
NOTE:This is for information only which you can then use in your reports.
Roll Number
An additional reference which some building societies use.
Additional Ref
Use this box to enter any additional information you receive about this supplier's bank account.
You can enter up to three lines of sixty characters.
Payment Method
From the drop-down list, choose the preferred payment method agreed with this supplier.
Your software comes with several payment methods: BACS, Cash, Cheque, Credit Card, Direct Debit (DD) or Standing Order (SO) and Other.
You can add your own payment methods to the list with user defined methods. To do this, click the button alongside the box. Enter the relevant description and click OK.
If the method involves online payment, click the Online check box then click OK.
Online Payments
Select this check box to indicate that you can pay this supplier using Sage e-Banking.
Click Save and click Close.
NOTE:Any payment you create for a supplier with Online Payments selected, now has a reference of (BACS). If you don't want to send the payment via BACS you must remove or replace the reference. However, if the reference is removed, the payment won't appear when processing e-payments
Next steps
You're now ready to start using e-Payments. You can use our handy How to process e-Payments guide to do this.