Match bank transactions from bank feeds or an imported file

Summary

How to create entries from a bank feed or statement in Sage Accounting.

Description

How it works

Each transaction shows the date, amount, and a reference. For money out of the account, the amount is in red
Decide how to process each transaction. Use the Match, Create, or Transfer buttons in the middle of the transaction
Consider setting up bank rules to process them based on your predefined criteria

Resolution

Match to existing transactions or pay invoices

Use the Match option to:

Pay outstanding invoices
Match to a payment or receipt you have already entered

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 a Match button on the right. We use the reference and amount to suggest these matches.

When we first receive the transactions, we'll run a search to find matches. You can search again at any time by selecting the find matching transactions button.

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

Select Match in the middle of the transaction to see a list of all outstanding invoices. Use the Search to narrow down the list.
Select the invoice or invoices you want to pay.
We show the selected invoices in the bottom section. When the Left to match is zero, select Match from here.

Overpayments

After paying selected invoices, you can save leftover funds as a payment on account. Use for future invoice allocation:

Select New Transaction.
Choose the Payment on Account tab.
Enter the details and select Add.
When the Left to match is zero, select Match.

Partial payments

To part pay an invoice:

Enter the amount of the partial payment in the Payment field.
When the Left to match is zero, select Match.

NOTE: Use this partial payment process for each of the transactions you need to match.

Use this to confirm that the transaction from the bank is the same as the transaction in Sage Accounting. This could be a transaction you've already recorded in Sage Accounting. Or it could be a bank transfer already imported from another bank.

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

Add bank fees and interest >

Sometimes a bank payment or receipt includes charges. Foreign currency conversion fees for example.

To include the bank fees or 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 >

This allows you to create a new refund and use it to pay off an outstanding credit note. Record the credit note before matching in Sage Accounting.

For Money in, match to a purchase credit note
For Money out, match to a sales credit note

Transfer between bank accounts

Use this when transferring money between bank accounts. This creates a transaction in both bank accounts. When both bank accounts use Bank feeds, you only need to match the transfer in one feed to record it in both accounts automatically.

Select Transfer.
Choose the bank account to Transfer to or Transfer from.
Select the green Transfer button.

Delete transactions

If you have transactions you don't want, you can delete them. For example, you have bank transfers or transactions you've already imported or processed.

Go to Banking.
Select Transactions on the relevant Bank Account.
Locate the relevant transaction you want to delete.
Tick the checkbox to the left of the transaction or transactions.
Scroll to the top of the page and select the Delete icon.