How to Import bank statement data to Sage 50 from AutoEntry

The main aim of this article is to educate the users about how they can import a bank statement into Sage 50 with the help of AutoEntry. In case a user has their bank statement only in a PDF version, they can still import data into Sage 50.

AutoEntry: How it Works

AutoEntry is a very easy and user-friendly cloud-based application that eliminates the requirement to manually enter each invoice or receipt into the system. It serves various other purposes too, such as creating transactions on its own in Accounting, as long as the user offers scanned and/or photographs of their documents. The other thing that it also performs, which is the most relevant to this article, is that it can be used to directly import the bank statement into Sage 50.

AutoEntry has multiple features that have been programmed into it and also offers many advantages to its users through all of these features. Some of the main features and benefits are:

• AutoEntry is capable of capturing text from a scanned or photographed document that is provided to it by the user. This comes in handy for any user because it essentially eliminates the need for the user to manually enter each receipt, invoice, expense, bank and credit card statement, bill, etc.
• The other great aspect of the AutoEntry application is that if the user only has a PDF of their bank statement, they can still import a bank statement to Sage 50 Accounting through the AutoEntry application.
• AutoEntry can also easily be trusted with all kinds of sensitive details because of the extremely well-engineered layers of protection that have been integrated into this software. It utilizes the best security policies, and it also utilizes data encryption throughout the application, hence that all client-related and user data is kept in a safe and secure environment at all times. This is probably the best thing about AutoEntry, considering how the number of threats to user information has only increased as technology has made its strides.
• To better educate their customers, AutoEntry also hosts free training webinars and is always reachable across all their support lines.

Also, Read -> Sage 50 Installation Error Messages

AutoEntry in Sage 50: How to Set Up

Keeping all these aspects in mind, any user who wants to set up AutoEntry, so that they can perform any of the functions that the software serves, can do so smoothly by following these steps.

• Firstly, the user will have to locate their AutoEntry settings. To do that, they need to first go to ‘Settings’, and then from within the options menu that is displayed in front of them, they need to select ‘Business Settings.
• Once, the user will be able to view the various sections on their screen, with the titles ‘Invoice and Business Preferences’, ‘Financial Settings’, and ‘Connect’. The user needs to look for ‘AutoEntry’ within the ‘Connect’ section and select it once discovered.
• Next, they are required to select the ‘Go to AutoEntry’ button. This will open a sign-up form in front of the user. They must fill out the form, and then select ‘Continue’. The user will have successfully created their AutoEntry account at this position.
• After this, the user is required to enter their email address and select a strong password that caters to the password guidelines. Once done, the setup process will be initiated, and the user is required to follow the on-screen instructions. After the user is ready, they can just click on the ‘Continue’ option to start the process.
• Now that the setup has been completed successfully, the user will be asked to select their companies. They will just require to select all the companies that they wish to use with AutoEntry and then click ‘Continue’. Once done, the selected companies will automatically be imported into AutoEntry.
• After all the companies have been created and integrated successfully, the user can simply select ‘Continue’. Finally, the user can select ‘Get Started’ to go to AutoEntry.

Once all of the aforementioned steps have been followed as required, the setup for AutoEntry should have been completed, and the user should also be able to view all the companies that they have selected to have been successfully integrated into the AutoEntry company list.

How to Import a Bank Statement into Sage 50 Using AutoEntry

Once the user has successfully set up AutoEntry and integrated all the companies that they wish to use into AutoEntry, the next step for them can be to import a bank statement onto Sage 50. The only thing that one needs to bear in mind before the user can start the process of importing a bank statement in Sage 50 using AutoEntry is that the steps that this article will mention only work for versions 25 and above of the software Sage 50.

The other aspect to be kept in mind before starting the process is to download the extracted bank statement data into the Sage 50 accounting software. This can be done through the following steps.

• Firstly, the user will have to select the ‘Download’ option. Once the option has been selected, a menu will be launched and it will prompt the user to select the type of file they want their download to be saved as. The user can select the CSV (comma-separated values) format as it is quite common and should be sufficient.
• The user can also set a date range of statements to be downloaded. 
• Once all these settings have been done, the user can simply click on ‘Download’, and the file will be downloaded onto the workstation of the user.

Once the downloading process has been completed successfully, the user can proceed to do the following steps. First, the user must do these steps in AutoEntry.

• The user is asked to offer the account number from Sage, the nominal account, and the tax code before they can upload it over to Sage.
• The next step is to launch the file that has been downloaded in the ‘.csv’ format from AutoEntry.
• Next, the user is required to enter the correct code for the bank account that they wish to import into the ‘Account Reference’ field. This is not the bank account number, instead it is the Sage 50 nominal code.
• The next step that the user is required to complete is to enter the relevant Nominal Account Codes that are for the Nominal Account. One thing that needs to be kept in mind while doing this is that for transactions that are transferred to another bank account/account within the same Sage 50 company, the user is required to enter a suspense account code instead of that second account’s code.
• Now, all that the user needs to do is enter all the required Tax Codes.
• Lastly, the user can save the file in the ‘.csv’ format without any issues and they can simply close the file after this.

Once these steps have been done, the user can then go ahead to the steps that need to be completed within Sage 50 so that the entire process can be completed successfully.

• Foremost, the user is required to select ‘File’ from within the menu bar. 
• Within the ‘File’ menu, the user needs to select ‘Import’. A pop-up will be launched in front of the user with the data import steps. The user is then required to complete a 5-step process to complete the import. Backups can also be taken at this point from this window. The user can now select ‘Next’.
• After this, the user is required to select the ‘Audit Trail Transactions’ options and go to hit ‘Next’.
• The user is then required to leave the CSV selection on and browse their workstation to go to the location where the file of transactions is stored.
• The user also has to make sure that the headings have been included within the file, and then they can hit ‘Next’.

Conclusion

After all the required steps have been done, the user can go on to press import, and the data will have been successfully imported bank statements into Sage 50. This can generally take a couple of minutes for the import to be completed according to the size of the file. However, it will not take too long. The software will also offer a prompt to the user after the import has been completed. How did you find this article? Was it helpful? Do let us know in the space below and we would love to hear from you. 

Frequently Asked Question Answer

Q. How Can a user upload bank transactions to Sage?

A. In order to do this:

1. Navigate over to Banking.
2. Go to Actions select the drop-down arrow and Import statement.
3. Now Select your file type.
4. To add the file you can either:
   • Select the date format used in your file so we can process it correctly. 
   • Add a comment to help you identify the import later.
     
5. Select upload file.
   

Q. Can one upload bank statement to AutoEntry?

A. The user also has the option to select a Date Range of statements to download. 

• Click Download,
• Now the file automatically downloads onto your PC. 
• In order To import this into your accountancy package, use the import tool there and select the saved file from your PC.
  

Q. How can one import bank statements to Sage 50?

A. In order to do this, you need to:

• Go to Sage 50 Accounts
• Now click File
• Next, select Import and the data import pop-up opens. 
• Next, follow the on-screen instructions.