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How Do I... |
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Connect a Bank to Sage Bank Feeds | ||
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Select Bank Reconciliation Main menu > Check, Deposit and Adjustment Entry.
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Use Check, Deposit and Adjustment Entry to enter checks and deposits, and record bank account adjustments. You can enter the outstanding checks and deposits that have been updated in the General Ledger, Accounts Payable, Accounts Receivable, Payroll, and Purchase Order modules, but are included on your last bank statement.
Wire transfer payments updated through the Accounts Payable module appear in this task. Also, electronic payments appear as adjustments.
During normal operations, all checks and deposits processed and updated through the General Ledger, Accounts Payable, Accounts Receivable, Payroll, and Purchase Order modules are recorded automatically. Use Check, Deposit and Adjustment Entry to enter the cleared documents shown on your bank statement that were not recorded automatically (for example, miscellaneous bank charges, noncheck withdrawals, and interest earned).
If other modules are not integrated with the Bank Reconciliation module, you must enter all documents for the month (for example, checks, deposits, and adjustments).
Click Bank Recap Report to review the transactions when reconciling the bank statement. Click B/R Transaction Register for the bank code selected to update the transactions to the General Ledger module. These buttons are available only with the appropriate security setup.
Sage Bank Feeds
If the selected bank is connected to Sage Bank Feeds, click Get Bank Feed Transactions to import transactions from your bank. A message tells you how many transactions were imported, and the program attempts to match them to the transactions recorded in Sage 100 that have not been cleared.
Checks are matched based on the check number and amount, and the check date must be no later than the date posted for the Sage Bank Feeds transaction.
The program uses the following criteria to match adjustments:
- If the reference number, amount, and adjustment type match, and the Sage 100 transaction date is no later than the date posted for the Sage Bank Feeds transaction, the transaction is considered a match.
- If there is no matching reference number, but the adjustment type and amount match, and the Sage 100 transaction date is no later than the date posted for the Sage Bank Feeds transaction, the transaction is considered a match.
If a match is found, "Matched" appears in the Source field for the transaction. If there is no match for a transaction imported from Sage Bank Feeds, the Action Req. check box is automatically selected and a flag icon appears in the first column.
When a transaction is imported from Sage Bank Feeds, the Cleared check box is automatically selected.
If a Sage Bank Feeds transaction is not automatically matched to a Sage 100 transaction, you can manually process a match. For example, you can select the Cleared check box for one of the two transactions, and the cleared date is automatically entered. You can then delete the other transaction.
If there is no corresponding Sage 100 transaction for a Sage Bank Feeds transaction, you can enter the general ledger posting account number in the grid.
When you click Get Bank Feed Transactions after the initial import, only transactions that have not previously been imported are added to the grid.
Note Transactions are imported into Sage 100 only when you click Get Bank Feed Transactions. However, the service used to sync with your banks retrieves transactions multiple times throughout the day. This service uses the same sign-in credentials used when connecting a bank to Sage Bank Feeds. If you need to change the sign-in ID or password for a bank, first disconnect the bank from Sage Bank Feeds in Bank Code Maintenance by clicking the arrow button in the top-right corner and selecting Disconnect Bank Feeds. After you've updated your sign-in credentials, use them to reconnect the bank to Sage Bank Feeds.
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1. Checks |
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2. Dep/Adjust |
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