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 Checking, 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.
Bank statement import
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
- Go to Banking.
- On the tile for the relevant account, select Actions, Connect a bank.
- Click your bank or enter the name of your bank in the search field, and then select your bank.
- Read the terms and conditions, then click Accept Terms & Conditions.
- When prompted, enter your online banking login credentials, and then click OK.
- If your bank uses multi-factor authentication, you may be asked to enter further security details.
- Select the account you want to connect to, then click OK.
- Enter the Start Date you want to download transactions from, then click All Done. You can normally download transactions from the last 90 days, but this may vary by bank. The process may take several minutes to complete. Check the account tile on the Banking page to see the connection status.
- Once connected, your bank transactions are downloaded and are ready for you to process.
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.
- Go to Banking.
- Locate the tile of the bank account for which you want to download transactions.
- Select <n> Transactions in the lower left-hand corner. If your online banking service uses multi-factor authentication security, you are asked to enter your security details.
- The transactions are downloaded from your bank.
- 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
- Go to Banking.
- Select Actions, Disconnect bank in the lower right-hand corner of the relevant bank account.
Note: Disconnecting a bank feed does not remove transactions from the bank account.
Reconnect a bank feed
If you disconnected a bank feed and want to reconnect it, follow the steps above. When you reconnect the account, you can choose the previously connected bank from the Existing bank list, or select a different bank.
About Plaid
Sage bank feeds are powered by Plaid, a secure online banking provider that creates the connection between Accounting and your bank account. When creating a new bank feed connection, your online banking credentials are stored in Plaid, never in Accounting (or Accounting Start).
If your bank uses multi-factor authentication security, you must enter your security key or passcode when you set up bank feeds and before downloading transactions. We recommend you confirm with your bank whether or not using bank feeds compromises the terms and conditions of their online banking service.
Note: If you have existing bank feeds, they may be using Yodlee.
Supported bank exceptions
The banks listed below may not be supported by Plaid. If you are connected to one of these banks via Yodlee, do not disconnect the feed as you will not be able to reconnect it. Also, for some banks, Plaid may support connection to Personal but not Business accounts.
| Bank Name | Support Details |
|---|---|
| First Commonwealth | Personal accounts only |
| Renasant Bank | Not supported |
| Cashmere Valley Bank | Not supported |
| NebraskaLand National Bank | Not supported |
| Forest Park National Bank Business Banking | Not supported |
| Virginia National – Business Banking | Not supported |
| Kentucky Bank | Personal accounts only |
| Towne Bank | Personal accounts only |
| Investors Bank | Personal accounts only |
| First United Security Bank | Unknown |
| IBM Southeast Employees FCU | Not supported |
| Busey Bank | Unknown |
| Ameris Bank (Business) | Personal accounts only |
| CenterState Bank Business | Personal accounts only |
| PenFed CU | Not supported |
| Citizens Trust Bank | Personal accounts only |
| Chemical Bank Business | Personal accounts only |
| New York Community Bank Personal Banking | Not supported |