About bank feeds

Bank feeds are connections that automatically download transactions from your bank account to Accounting. You can then work with the data by creating new transactions as needed or match bank transactions to your Accounting transactions. Using bank feeds greatly reduces the need to create manual entries, which simplifies bank reconciliation, ensures your accounts are up-to-date and accurate, and saves you time. You can have an unlimited number of bank feeds.

Before setting up bank feeds

You can link a bank feed to chequing, Savings, and Credit Card accounts. However, you cannot link to a Loan, Cash, or other account types.

You can download transactions from the last 90 days. If you need transactions that are more than 90 days old, you can import your bank statement   or enter the transactions manually before connecting a bank feed.

Tip:

If you are partially through importing a bank statement, complete the import to avoid duplicate transactions. If you are partially through reconciling your bank account, settle differences before creating a new bank feed.

It is important to consider the date you want to start using bank feeds and import transactions from. Ideally, you should choose the day after the date of your last bank reconciliation. If you enter a date before this, the transactions are included in the import, but you can discard them.

Create a new bank feed connection

Tip:

It's important to consider the date you want to start using bank feeds. Ideally, you should start the day after the date of your last bank reconciliation. If you enter a prior date, transactions before the date will be downloaded but you can delete them as needed.

To get started, please select the relevant option below:

  • Option 1 - If your bank is HSBC.
  • Option 2 – All other banks.

Check for new transactions

New transactions are normally downloaded every 24 hours, depending on your bank and will automatically display in the bank account. However, you can also initiate a transaction download for any connected account.

  1. Go to Banking.
  2. Locate the tile of the bank account for which you want to download transactions.
  3. Click <n> Transactions in the lower right-hand corner. If your online banking service uses multi-factor authentication security, you are asked to enter your security details.
  4. The transactions are downloaded from your bank.
  5. Match, create, transfer, or discard transactions as needed.

See Working with incoming bank transactions for information on how to match, create, transfer, or discard incoming transactions.

Disconnect a bank feed

  1. Go to Banking.
  2. Click to open the bank account for which you want to disconnect the bank feed.
  3. On the New Transactions list, click Disconnect Bank Account.

Note: Disconnecting a bank feed does not remove transactions from the bank account.

Reconnect a bank account

If you disconnected a bank account and want to reconnect it, follow the steps above for disconnecting. When you reconnect the account, you can choose the previously connected bank from the Existing bank list, or select a different bank.

About Yodlee

Sage Bank Feeds is made possible by Yodlee, a certified Payment Cards Industry (PCI) Level 1 Service Provider and a certified EU Privacy Safe Harbor. Yodlee creates the connection between Accounting and your bank account. When creating a new bank feed connection, your online banking credentials are stored in Yodlee, never in Accounting (or Accounting Start). For more information, see Yodlee Security.

Note:

Banks have different rules regarding the use of third-party aggregation services such as Yodlee Inc. You should review the agreements you have with your bank to make an informed decision on whether bank feeds using Yodlee is right for you.