Bank feed match

SUGGESTED

I'm trying to see if there is a way to manually match multiple Sage amout to 1 bank amout 

  • 0

    If you are referring to deposits, yes there is and it is already available to you. When you are using the receipts journal change the deposit to bank account to show the cash to be deposited account. Then you would set up Bank Deposits. This is a function under the Banking Module which aggregates all of the deposits from the Receipts module and creates a deposit slip of exactly what you are depositing. In the Reconciliation module you will have one deposit to match with the deposit on your bank statement instead of many deposits in Sage to match with the Bank Statement. When setting up the Deposit module and you have prepared your first deposit, before posting check the Report / Display Deposit Slip Entry to be sure it shows a debit to your bank account and a credit from the cash to be deposited account. There is no easy way to call back this entry and change it later. As a part of this module you can print a bank deposit slip that is acceptable at most banks if you are still using them.

  • 0 in reply to Alwyn

    Hi maybe I was not clear. What I am looking for, is if I pay vendors by direct deposit and then do a upload direct deposit transactions and select multiple vendors this will create 1 amount in Sage but on the bank statement it will be all separate amount. When you try to match transactions in module ''Match bank transactions''  I can't match these amount.

  • 0 in reply to Gabriel Langevin
    SUGGESTED

    I do a similar thing with vendor payments. All payments are made through a clearing account thus reflecting the payment in each vendor's account. Then I make a single General Journal entry for the total amount of the EFT (or similar) payment from the bank. this is a debit to the clearing account and a credit to the bank account. thus getting a single entry in Sage in a similar fashion as the single entry on the bank statement. I do have a minor problem when  there are more than one group of payments on the same day as I would have two or three withdrawals in Sage when the bank  may or may not group them together in one withdrawal from the bank account. This is relatively easy to resolve as they are on the same date in Sage and adding two or three numbers is easier than figuring all of the vendor amounts which make up the total withdrawals.

    Hope this helps