About bank feeds

A bank feed is a secure online connection between Sage Accounting and your bank.

  • Once set up, automatically import transaction details from your bank. No more manual entry of transactions or importing transactions from a downloaded file.
  • Use the information imported from bank to match payments to outstanding invoices and automatically create bank transactions in Sage Accounting.

Why should I set up a bank feed?

You should set up a bank feed as it’s the quickest and easiest way to create bank transactions in Sage Accounting and makes bank reconciliation much easier and quicker.

Once set up, match or create transactions automatically. Easily reconcile your accounts and ensure accurate balances and effective credit control.

Without a bank feed set up you can choose to enter transactions manually or, alternatively, export transactions data as a digital file from your online banking service and then import this into Sage Accounting.

Does my bank support bank feeds?

We have connections with majority of banks, but there will be some bank that are not currently supported.

Check if a bank feed is available for your account

The banks are updating their connections all the time, so keep checking to see when new feeds are available.

With a bank feed set up, when will transactions appear in Sage Accounting?



With a bank feed connected, we regularly check your online bank account for new activity and download transactions automatically.

We rely on your bank to send us this information, so you may not see the very latest transactions from your online banking service in Sage Accounting.

Most banks send us details of new transaction once a day, for the previous day.

What happens to imported transactions?

You can see the number of transactions imported and awaiting review on the tile for your bank account that appears on the Banking page. Select the number of transactions to view all imported transactions on the Incoming Bank Transactions page.

location of incoming transactions count

For each transaction you can choose whether to

  • Match payments to outstanding invoices.
  • Create new transactions based on the imported information.
  • Transfer money between bank accounts.

What bank feed should I choose?

We are able to set up a bank feed for most bank accounts, credit card accounts and PayPal accounts. You can check whether a bank feed is available for your account.

When connecting your bank account you may be asked to choose from several feeds. Bank feeds all work in much the same way but connect differently.

Type of feed What you need to know

A direct bank feed

We have our own connection with your bank .

Typically, an authorisation form must be completed and set up takes from 3 to 10 working days.



Historical transactions are not included (except Tide bank).



An indirect open banking feed

We use Plaid, a third party approved by the Financial Conduct Authority (FCA), to connect to your bank.

Your bank provides a connection that allows service providers, such as Plaid, to connect to their online banking system.

 

Typically, you'll need to log into your online banking during set up to authorise the connection and the feed is set up in less than 30 minutes.


You can identify these feeds as they have open banking somewhere in the name.

What if my bank doesn’t have a bank feed?

If a bank feed is not currently available for your bank, we recommend that import transactions from your bank using CSV, QIF or OFX files. See Import bank statement

The banks are updating their connections all the time, so keep checking to see when new feeds are available.