Improvements to Bank Feeds in Sage 300 2022
As part of the Sage 300 2022 release, Sage has made improvements to bank feeds on the “Reconcile E-Statements” screen.
When automatically reconciling transactions from a bank feed, Sage 300 now tries to match transactions in more ways than it did previously. Transactions will now match if certain information in Sage 300 is in the Comment 2 field in the e-statement, even if the Comment 2 field includes additional information. For example, if the payment description in Sage 300 is “Check 900” and the Comment 2 field in the e-statement is “Invoice 2286 Goods – Check 900”.
Also, transactions downloaded using a bank feed have a “Bank Cleared Date” based on your local time. Note: in web screens, the “local” time comes from the system where Sage 300 is running, which may be different from the time on your system.
For more details for how bank feeds in Sage 300 work, check out the video.
How to Connect Bank Feeds in Sage 300
Bank feeds enable you to download transactions from your bank with the click of a button, and then automatically match those transactions to transactions in Sage 300. This makes bank reconciliation faster and easier, as well as more reliable because it prevents errors that could be created when manually entering transactions.
To connect a bank feed, you use the “Reconcile E-Statements” screen in the Sage 300 desktop. Once you have connected a bank feed, you can get transactions from the bank feed in either the Sage 300 desktop or in Sage 300cloud web screens.
Follow the link to learn more about reconciling e-statements in Sage 300.