For Faster Sage 100 Bank Reconciliation, Use Sage Bank Feeds
By Shannon Stanley and Doug Clark, Sage 100 Experts at Ardent Consulting
Sage 100 bank reconciliation doesn’t have to take very long. With Sage 100 Bank Feeds, you can auto-match transactions and save significant time. (And it’s built in!)
Key Takeaways
Why it matters: Bank Feeds for Sage 100 auto-match transactions, so you can skip a lot of the manual work of bank reconciliation.
What it costs: Nothing. It comes with Sage 100, you just need to activate it.
Is it hard to set up? No. Setup is straightforward, and Ardent is happy to handle it for you if you don’t have time.
No one likes bank reconciliation, and we mean no one. It’s awful. But Sage 100 has a built-in way to speed up your bank rec process: use bank feeds.
What Are Bank Feeds in Sage 100?
Bank feeds allow you to connect your Sage 100 ERP to your business bank accounts, so you can import all your bank transactions into Check, Deposit, and Adjustment Entry. Once they’re imported, they’ll auto-match against your Sage 100 transactions. You can review all your matches before finalizing them.
How Does the Matching Work?
If the amount and the adjustment type (which means the type of transaction, such as a bank fee) match up, and the Sage 100 transaction date is no later than the bank transaction date, your Sage system will mark it as Matched.
If something doesn’t match up, such as the date or the amount, your Sage system will flag the transaction for you to check yourself. You can also still manually create transactions when you find something on your bank statement that you forgot to enter into Sage.
How Do Bank Feeds Help with Sage 100 Bank Reconciliation?
Simply put: they save you a lot of time. Instead of manually checking every Sage transaction against every bank transaction and highlighting or check-marking them as you match them (we all have our own preference), most transactions will auto-match.
Some months, every single one of your transactions will auto-match. Those months will feel extra satisfying.
How to Set Up Bank Feeds in Sage 100
The setup process is quick and easy:
Open Bank Reconciliation
Enter the code for the bank you want to connect in the Bank Code field
Click the arrow button in the top-right corner
Select Connect Bank Feeds
At the prompt, enter an email address Sage can use to send you communications about your bank feeds
Accept the terms and conditions
Step through the wizard that pops up to select your bank, enter your credentials, and choose the date to start importing transactions
It’s the same process to add more banks, except you won’t have to enter an email address or accept the terms and conditions.
Sometimes you’ll have a little bit of tweaking to do, or the wizard will ask unclear questions. If you run into any issues or just want someone else to handle it for you, just ask Shannon for help. (Everything is always easier with Shannon on the case.)
Ready to Get Started?
You can set this up on your own or reach out to Ardent Consulting (or your Sage partner) to get going with Bank Feeds. It doesn’t take long to set up; it’s already built-in to your system (no add-ons needed), and it’ll make your Sage 100 bank reconciliation faster and easier.
And if you have any questions, just ask the Ardent team. We’re always happy to help.
Shannon Stanley and Doug Clark have over 50 years of experience working with Sage 100.
