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Sage 200 Professional – Setting up Bank Feeds.

Created on  | Last modified on  Highlight Matches

Summary

Bank Feeds is a free secure service that you can use to download your bank transactions to Sage 200 Professional, to help you reconcile your bank account.

Process

CAUTION: Barclay's Corporate is currently unavailable to use for bank feeds setup.

 

Types of Bank Feed

We have two types of bank feeds, Direct and Indirect.

Direct bank feeds are where we have an agreement with your bank or financial institution to retrieve information about transactions directly. For other banks, we connect using a secure third-party provider, approved by the Financial Conduct Authority (FCA).

 

Open Banking (PSD2)

Open Banking (PSD2) is a secure way for you to share financial information from your bank with companies like Sage that offer banking and payment apps and is designed to give you greater control over your financial data.

If your bank does not comply with this standard, you will not be able to use Bank Feeds with your Sage 200 software.

Use the table here for up-to-date information on whether your bank is Open Banking ready, and whether the Bank Feed is either Direct or Indirect.

 

To enable Sage Bank Feeds

CAUTION: Bank Feeds are no longer available in Sage 200 Extra Online as outlined here.

NOTE: Please ensure you have carried out the required software updates outlined here, and have installed the required remastered version of your Sage 200 application where applicable, a list of the compatible versions of Sage 200 is available here.  

TIP: You can find the downloads for the Sage 200 Professional product here. 

1) To enable Sage Bank Feeds, go to the Cash Book module, expand Cash Book Accounts then choose Amend Bank Account Details. Alternatively, go to the Bank Account List, highlight the bank account to be used for bank feeds and click the Amend Account button above the list of accounts.

2) Go to the E-Banking tab then click the Enable button.

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3) Choose your bank from the available options, then click Next.

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If your bank is not shown on the main screen, select Other Banks and search the list for your bank from the available options.

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4) On the next screen, sign in with your bank login details.

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If the bank you select is an Indirect feed, you may be prompted to grant permission to a 3rd Party to retrieve your bank transactions.

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5) After clicking to Continue, you will be presented with a login page for your bank. After signing in, you can then choose a start date for transactions to be downloaded.

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6) When you click Process, to complete the setup, you will receive an on-screen instruction on what is then required by your bank to do so. For example, you may need to download and complete a form to send to your bank for them to process and authorise the feed.

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NOTE: A copy of the downloaded form is saved in the Attachments tab of the bank record. After sending the form, activation of direct bank feeds usually takes around 3-5 working days, so we would advise checking the status of the account after this time. Once the bank has authorised the application, the status will change from Pending to Active and Sage Bank Feeds can then be used to download transactions.

For support on how to reconcile using Bank Feeds, please click here.

For support with setting up Bank Feeds rules, please click here

 

User Access

To ensure a user has access to the Bank Feeds features, this can be done through Cash Book, then Advanced, when adding features to a Role in System Administration.

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