Sage 200cloud - Focus on Bank Feeds
The latest release of Sage 200c sees the introduction of Sage’s Bank Feeds module. This was previously a third-party integration via Yodlee and was only available under the Sage Services Extra option. The good news is it’s now available to all Sage 200 users at no extra annual cost. Not all banks are signed up yet so watch this space as others come on stream. Current banks supported are the Royal Bank of Scotland (RBS), NatWest and Cashplus.
Sage Bank Feeds explained
Sage Bank Feeds allow users to link their bank account directly to their accounting system meaning you can easily and securely import account transactions from your bank. This feature means you can fully automate the process of logging bank transactions in Sage 200c, and it also allows you to categorise transactions.
You can then match your downloaded transactions to transactions that already exist in Sage 200. Any transactions that aren’t already in Sage 200 can be created as new transactions to ensure your live bank account and Sage 200 are accurately matched up. Matched transactions are then remembered by Sage 200, ready for the next time you run a bank reconciliation.
To connect your account, Bank Feeds generates a form of authority based on the details you enter, which is returned to your bank. As soon as your bank processes the form transactions can be automatically imported into your Sage 200 system. You can also further automate the process by deploying an additional rules engine; by creating matching rules the memorisation software automatically assigns coding to transactions.
Helping you on your journey to digital transformation
This is just one of the new features in Sage 200c that is aimed at helping businesses digitally transform. By eliminating repetitive and time-consuming data entry, your finance team can spend their time on more valuable tasks and ultimately be more productive.
Make sure you speak to TSG about upgrading to the latest release of Sage 200c, what upgrading requires and how you can take advantage of the solution’s improved Bank Feeds functionality along with a host of other new features.
To find out more about how Sage 200c can help your business begin its digital transformation journey, why not sign up to our ‘Achieving digital transformation with Sage 200c’ event at The Shard in London? In this event we’ll take you through the most innovative new features of Sage 200c, as well as give you an exclusive preview of the upcoming Office 365 integration. Register for the Sage 200c event.