Import a Bank Statement

Learn more

Learn more about importing bank statements

Manually match an imported bank record to a Sage 50 transaction

Reconcile an account

Enter beginning transactions for first account reconciliation

Read about clearing voided direct deposit paychecks

Read about the Current Account Reconciliation report

Read the account reconciliation overview

The Import Statement wizard lets you connect with your bank and import the statement into Sage 50. The import process brings in any debit or credit transactions contained in the statement, as well as any interest or service charge items.

Once your company is set up for this process, you can start importing statements directly from your bank.

The wizard also lets you import a file in standard OFX or QuickBooks® QFX format. You can import any transaction stored in the file.

Notes: Even if your bank does not support the transfer of statements directly to Sage 50, you can still download the statements from your bank, then import them manually into Sage 50.

If a statement is subsequently corrected by the bank, you will need to import the statement again to make the necessary corrections within Account Reconciliation. This could result in duplicate bank records. To avoid duplicate records, see the instructions under "Import a Corrected Bank Statement into Sage 50."

To import a bank statement:

  1. From the Tasks menu, select Account Reconciliation.

    2. The Account Reconciliation window appears.

  2. In the Account to Reconcile field, enter or select the account you want to reconcile.
  3. Click Import.

    4. The Import Statement window appears.

  4. If you know the path where the bank statement file is stored, enter it in the text box. Otherwise, use the Browse button to search for and select the statement. Once the statement selected, its path will appear in the Statement Location box.
  5. Click Import.
  6. If your bank supports electronic transfers in OFX format, you'll see the Select Account window. Otherwise, you'll see the Enter Account window.
  7. Enter the needed account information, and then click OK.
  8. Sage 50 will attempt to import the statement, and if the importation is successful, you'll see a summary of statement contents.

    Note: Following the successful import of a bank statement, the name and number of the last account you imported from will appear in the Account field. An additional button will be available in the window: Change Account: With a statement location entered, click this button to choose a different bank account from which to import a statement. You will see the Select Account or the Enter Account window.