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Process bank transactions from bank feeds or an imported file

Created on  | Last modified on 

Summary

How to use the incoming transactions page to process transactions imported from a bank feed or a bank statement in Accounting Start.

Description

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

We tell you when you have new transactions ready to process. Just select the link with the number of new transactions on the tile for each bank. This opens the Incoming bank transactions page.

Resolution

How this 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 using the Match, Create,or Transfer buttons in the middle of the transaction.

For common transactions, consider setting up bank rules to process them automatically based on your predefined criteria. Find out more 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 Accounting Start
  • Pay outstanding invoices

Match existing transactions

Use this to confirm that the transaction from the bank is the same as the transaction in Sage Accounting. This could be for a transaction you already recorded in Sage Accounting, or for a bank transfer already imported from another bank.

  1. Select Match in the middle of the transaction to see a list of existing payments and receipts as well as 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.Image

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 may 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 a 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.Image
  2. Select the invoices you want to pay.Image
  3. We show the selected invoices in the bottom section. When the Left to match is zero, select Match from here.Image

Partial payments

If you want part pay an invoice

  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

Sometimes a bank payment or receipt may include charges. For example, if it's been converted from another currency.

To include the bank fees or interest

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

Create new transactions

Money Out

This is for payments or expenses for both general purchases and to pay a regular supplier, just select the correct category and VAT rate.

  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  from the What drop down list.
  4. Check the VAT rate and amount is correct where applicable.
  5. Select Create.

Money in

This is for money received not being used to pay a sales invoice, such as money from till receipts, or income from grants.

Only use this for a customer contact when the customer has paid you and you are not going to send them a sales invoice, such as if they paid at the point of sale.

For money used to pay sales invoices, select Match to pay an existing invoice.

To create the receipt you just select the correct  and VAT rate, where applicable.

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

Add more than one category

If a single payment or receipt needs to be split over several categories or VAT rates, select Split. You might have a single expense payment that covers petrol and office sundries for example.

  1. Select Split
  2. Create a new line for each  or VAT rate.
  3. Make sure all of 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. If both bank accounts use bank feeds, you'll need to match the imported transaction from the other bank account.

  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, you can delete them. You may need to do this if you have bank transfers or transactions you've already imported or processed.

Select the transaction (or transactions) you want to delete and then select Delete.

Fix problems with your incoming transactions