Available in Sage 50 Premium Accounting and higher.
Import a Bank Statement into Sage 50
How Do I...
The Import Statement wizard lets you select the bank and account from
which you want to import the statement and then begin the download. The wizard also lets you import transactions stored on the hard
drive of your computer. You can import any transaction stored in standard OFX,
QuickBooks®
QFX, or Microsoft®
Money format.
To import a bank statement electronically into Sage 50 follow these
steps:
- From the Tasks
menu, select Account Reconciliation.
The Account Reconciliation
window appears.
- In the Account
to Reconcile field, enter or select the account you want to reconcile.
- Select the Import
button.
The Import Statement - Welcome
window appears.
- Select the Next
button to continue.
The Import
Statement - Choose How You Want to Import Your Statement window appears.
It provides two different options:
Automatically
connect to my bank and import a statement
- Use the drop-down list to
choose the bank you want to import the statement from. The list includes
all banks that currently support the transfer of bank statements to Sage 50.
If your bank is not on the list, you can still download and transfer the
statement manually. Click the My
bank is not on the list link, and follow the directions in the Help
window.
- Enter the ID and password
issued to you by your bank for access to electronic banking. For security
reasons, the password, when you enter it, will appear as a series of asterisks
(*).
- If you want Sage 50 to
recall your user ID each time you select the currently chosen bank account,
check the check box. From now on, whenever you choose to import statements
from this bank account, Sage 50 will automatically fill in your user
ID.
- When you've chosen the bank
and entered your ID and password, click the Import
button to select which bank account you want to import the statement from.
If your bank supports electronic transfers in OFX format, you'll see the Select Account window. Otherwise, you'll
see the Enter Account window. Enter
all needed account information.
- After you've entered
this information, click OK.
Sage 50
will attempt to import the statement, and if the importation is successful,
you'll see a summary
of statement contents.
Note: Following the first successful import of a bank
statement, an additional button will be available in the window:
Change Account: Once you have chosen
the bank and entered your ID and password, click this button to select
a different bank account from which to import a statement. You will see
either the Select Account or the Enter
Account window.
Manually
select a statement
- If you know the path where
the electronic bank statement is stored, enter it in the text box. Otherwise,
use the Browse button to search
for and select the statement. Once the statement selected, its path will
appear in the Statement Location
box.
- With a statement location
entered, click the Import button
to choose which bank account you want the statement to come from. If your
bank supports electronic transfers in OFX format, you'll see the Select
Account window. Otherwise, you'll see the Enter
Account window.
- Enter
the needed account information, and then select OK.
- Sage 50
will attempt to import the statement, and if the importation is successful,
you'll see a summary
of statement contents.
Note: Following the successful import of a bank statement, the name and number of the last account you imported from will appear in the Account
field. An additional button will be available in the window:
Change Account: With a statement location entered, click this button to choose a different bank account from which to import a statement. You will see the Select Account or the Enter Account window.
Note: If you import a statement into Sage 50 and that statement is subsequently corrected by the bank, you will need to import the statement again to make the necessary corrections within Account Reconciliation. This could result in duplicate bank records. To avoid duplicate records, see the instructions under "Import a Corrected Bank Statement into Sage 50."
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