What happens after connecting to your bank or financial institution with Sage Bank Feeds?

Once a bank feed is connected, we rely on your bank to send us new transactions.

Yodlee is an online banking solution provider that connects to thousands of online banking websites and financial institutions worldwide. They retrieve financial information to generate statements and then make those statements electronically available to Sage.

Yodlee retrieves transactions from all banks at different times, usually about once a day. At this time your bank would normally notify you of the log in via SMS or Email.

Sage Bank Feeds then synchronizes with Yodlee on a scheduled basis, to download the latest transaction data Yodlee has for your connected accounts.

Yodlee only imports fully cleared transactions. When your feed is refreshed, any available transactions that have been cleared by your bank will be imported into Sage Accounting.

Provided that you’ve set your Sage Bank Feeds to synchronize automatically, Sage Accounting then synchronizes with Sage Bank Feeds whenever you or any invited user logs into this Sage Accounting Company to ensure transactions will be available on your Banking screen for authorized users to review/process.

Provided that you’ve set your Bank Feeds to synchronize manually, Sage Accounting will synchronize the day’s available transactions with Sage Bank Feeds when you click on the available Refresh Now button on the Banking screen to thus display those transactions in the same screen.

If the transaction(s) you expect to see do not pull through, this may mean that they have not yet cleared with your bank or they have not yet synchronized with Sage Bank Feeds from Yodlee. 

As with the manual import of bank statements, you must reconcile your bank account balance in Sage to the actual balance in your online banking system regularly. Bank Feeds are reliable but transactions can sometimes be missed due to the timing of when the bank changes a transaction from pending to cleared and processed. If you have missing transactions you should enter them manually.

The last time your bank was checked for transactions is shown at the top of the page.

Where can I see my incoming bank transactions?

On the Banking page in Sage Accounting, you can see the number of transactions imported and awaiting review on the tile for your bank account.

All the imported transactions will be visible in the New Transactions Tab on the Banking page.

Am I set up for Manual or Automated Synchronization?

In your Sage Accounting company click on Banking > Transactions > Manage Bank Feeds.

Below your linked Internet Bank Accounts, you should be able to verify/update your synchronization option:

Manually refreshing transactions

You clicked on the “Refresh Now” option, but your latest transactions do not pull through – what could be the problem?

• Clicking “Refresh Now” will check whether all transactions downloaded from your bank to Sage Bank Feeds have been synchronized to your Sage Accounting Company – and not whether any unsynchronized transactions exist between your bank and Sage Accounting.
• Each account on the new implementation is provisioned to automatically synchronize these transactions with Sage Bank Feeds at specified intervals, but by clicking “Refresh Now” you could potentially speed up this process.

Not seeing transactions you are expecting?

Because of how Yodlee feeds work, transactions can sometimes be missed due to the timing of when the bank changes a transaction from pending to cleared and processed.

If you are not seeing transactions you're expecting to see, and haven't had new transactions for more than five days, we recommend that you:

• Check to see if your bank feed needs to be re-authenticated. View our Sage KB article on authorization

          Indirect open banking bank feeds need to be re-authenticated every 90 days for security reasons.

• If you still can't refresh your feed, try logging into your internet banking. If you can't log in, there may be a problem with the bank's website, so your feed is unable to refresh.

Back to Sage Bank Feeds(Banking Cloud) - Overview