Introduction to bank feeds

Summary

An introduction to using bank feeds in Sage Accounting.

Resolution

What are bank feeds?

A bank feed is a secure connection between your bank account and Sage Accounting.

Once connected, Sage Accounting imports transactions from your bank account. Once imported you can decide whether to create a new payment or receipt, match a payment or receipt you've entered, or pay an invoice.

To save you even more time, you can set up rules for common transactions such as your direct debits.

Sage checks for new transactions daily. These are then displayed the day after they appear in your bank account. Once uploaded, you can apply bank rules and remove duplicates before they're imported.

Connect to your bank >

We'll either connect directly to your bank or via Plaid, our third-party provider.

For some banks, we only have one type of connection, and for others, you can choose. For all connections, you confirm that you authorise Sage to connect your bank account.

To find a list of supported bank feeds:

From Banking find the tile of the bank account you want to connect.
Select Actions, then select Connect to bank.
Enter the name of your bank or credit card company and bank account type in the search box.

Direct bank feed

For direct bank feeds you complete an authorisation form and send it to your bank. Your bank will set up the bank feed. This usually takes 3 to 10 days.

You cannot download transactions prior to the day your bank feed is active (unless you bank with Tide).

Connect Sage Accounting to your bank

Bank feeds via Plaid

Plaid is an FCA authorised service and forms a direct secure connection with your bank.

You will need to sign into your online bank account to authorise the connection. This connection can be active straight away or in a few hours.

Connect Sage Accounting to your bank

Banks without bank feeds >

If a bank feed is not available for your bank, you can upload transactions from a bank statement. this would need to be using QIF, CSV or other file types.

Import your bank statement

Review bank transactions >

Once you've connected your bank feed, you'll see your transactions on the Banking page. Select the number to view all transactions on the Incoming Bank Transactions page.

For each transaction you need to choose whether to:

Help with bank feeds

TIP: For details of current bank feed disruptions check the bank feed status page (opens in new tab)

Disconnect a bank feed

Solution Properties

Solution ID: 222001000100754
Last Modified Date: Tue Nov 07 10:54:56 UTC 2023
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