How to process bank transactions from bank feeds or an imported file
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Use the Incoming Bank Transactions page to process transactions imported from a bank feed or bank statement.

We notify you when new transactions are ready to process. Select the link with the number of new transactions on the tile for each bank to open the Incoming Bank Transactions page.

How this works

Each transaction shows the date, amount, and reference. For money out of the account, the amount is in red.

Decide how to process each transaction using the Match, Create, or Transfer buttons in the middle of the transaction.

For common transactions, set up bank rules to process them automatically based on your predefined criteria. Read about bank rules.

Match to existing transactions or pay invoices

Use the Match option to:

  • Match to a payment or receipt you have already entered in ProductName.
  • Pay outstanding invoices.

Match existing transactions

Confirm the bank transaction matches the transaction. This could be for a recorded transaction or an imported bank transfer.

  1. Select Match in the middle of the transaction to see a list of existing payments and receipts and outstanding invoices. Use the Search to narrow down the list.
  2. Select the matching payments or receipts.
  3. We show the selected transactions in the bottom section. When the Left to match is zero, select Match from here.

Pay outstanding invoices

Create a new customer receipt or supplier payment and use it to pay an outstanding invoice.

If we find any outstanding invoices that match the payment, we show these with a Match button on the right. We use the reference and amount to suggest these matches.

If we don't find a matching invoice, or you want to pay a different one:

  1. Select Match in the middle of the transaction to see a list of all outstanding invoices. Use the Search to narrow down the list.
  2. Select the invoices you want to pay.

  3. We show the selected invoices in the bottom section. When the Left to match is zero, select Match from here.

Overpayments

If you have leftover money after selecting invoices to pay, save it as a payment on account for future invoice allocation.

  1. Select New Transaction.

  2. Choose the Payment on Account tab.

  3. Enter the details and select Add.

  4. When the Left to match is zero, select Match.

Partial payments

  1. Enter the amount of the partial payment in the Payment field.

  2. When the Left to match is zero, select Match.

Add bank fees and interest

    • Select Make Adjustment.
    • Enter the details for the bank charges and select Add.
    • When the Left to match is zero, select Match.

Match refunds to credit notes

  1. Create a new refund and use it to pay off an outstanding credit note. Record the credit note in Sage Accounting.
  2. For money in, match to a purchase credit note.
  3. For money out, match to a sales credit note.

Create new transactions

Payment on account

Create a new vendor payment or customer receipt where you don't have an invoice or bill to pay yet. A payment on account remains outstanding until it’s matched or allocated to an invoice or bill. Payments on account can match to invoices and bills from the Manage Allocations page.

  1. Select Create in the middle of the transaction.
  2. Choose a customer or vendor from the For drop-down list.
  3. Choose Payment on Account from the What drop-down list.
  4. Select Create.

Money Out

This is for payments or expenses for both general purchases and to pay bills. Select the correct category.

  1. Select Create in the middle of the transaction.
  2. Select the supplier from the Who drop-down list, if required.
  3. Select the relevant category from the What drop-down list.
  4. Select Create.

Money in

This is for money received not used to pay a sales invoice, such as money from cash register receipts or income from grants. Only use this for a customer contact when the customer has paid you and you aren’t going to send them a sales invoice. For money used to pay sales invoices, select Match to pay an existing invoice. To create the receipt, select the correct category.

  1. Select Create in the middle of the transaction.
  2. Select the customer from the Who drop-down list, if required.
  3. Select the relevant category from the What drop-down list.
  4. Select Create.

Refund a sale

To record a cash refund, select the Create a refund link. This could be for money paid out from cash register receipts or money refunded to someone who isn’t a regular customer. Only use this for a customer contact when you haven’t sent them an invoice or credit note. To refund an existing credit note, select Match. If you choose the Create a refund link in error, select Revert back to sale to create a receipt.

  1. Select Create in the middle of the transaction.
  2. Select the Create a refund link.
  3. Select the customer from the Who drop-down list, if required.
  4. Select the relevant category from the What drop-down list.
  5. Select Create.

Refund a purchase

Record a refund for both regular vendors and general purchases. If you choose the Create a refund link in error, select Revert back to purchase to create a payment.

  1. Select Create in the middle of the transaction.
  2. Select the Create a refund link.
  3. Select the supplier from the Who drop-down list, if required.
  4. Select the relevant category from the What drop-down list.
  5. Check the VAT rate and amount is correct where applicable.
  6. Select Create.

Add more than 1 category

If a single payment or receipt needs to split over several categories, select Split.

  1. Select Split.
  2. Create a new line for each category.
  3. Ensure the lines add up and then select Create.

Transfer between bank accounts

Use this when transferring money between bank accounts. This creates a transaction in both bank accounts.

  1. Select Transfer.
  2. Choose the bank account to Transfer to or Transfer from.
  3. Select Transfer.

Delete transactions

If you have transactions you don't want, delete them. Select the transaction (or transactions) you want to delete and then select Delete.

Fix problems with your incoming transactions

Missing transactions

  1. Sage Accounting may not yet show some of your online bank transactions because you haven't downloaded them yet.
  2. For connected banks, we usually download once a day but this varies between banks. At the top of the Incoming Transactions page, we show the latest update date and time from the bank.
  3. If this is up to date:
    • Check to see if you need to re-authorize your bank feed. For security reasons, you must re-authorize with your bank every 90 days. When this happens, we display a message at the top of the page. Choose Enter Credentials to re-authorize the bank feed.

Duplicate transactions

  1. Bank errors or feed issues can cause duplicate transactions. Delete duplicates based on when you notice them:
    • Imported: Discard from bank feed
    • Created in Accounting: Delete from bank account (Activity tab)
    • Before reconciliation: Delete transactions
    • After reconciliation: Delete from bank activity

We update the starting balance for the next reconciliation to reflect deleted transactions. Read more about how to delete bank transactions

What's next?

Create transactions with bank rules

Bank reconciliation

Steps to duplicate
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