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Do You Have Multiple Accounts with the Same Bank When Using Bank Feeds?

 

If the bank login is the same for all accounts, instead of logging into each bank account to establish the feed, create a Financial Institution. By creating a Financial Institution, multiple accounts can be connected and one login can be used to connect the bank feeds. This will enhance performance of bank feeds since one connection will be made instead of a connection per bank.

Here's how to set it up:

  1. Subscribe to Sage Cloud Services
  2. Go to Cash Management > Checking
  3. Select one checking account to connect to bank feeds
  4. Go to Banking Cloud tab and connect to the bank
  5. Go to Cash Management > Setup > Financial Institution > Click on "+" sign
  6. Create an ID and Name to represent the bank

    Financial Institution Overview - Creating an ID and connected all accounts within the Financial Institution
  7. Click on Connected Account and select the Bank account previously connected to the bank feeds and then click Save and Continue
  8. Select Map accounts and select the other accounts associated with this bank; they will all be connected to bank feeds using the same connection already established.
  9. Enter the transaction start date to start bringing in bank feeds.

Questions?

If  you need assistance with Creating Financial Institutions in Cash Management with Sage Intacct, please reach out to RKL Support.

Tags: Sage Intacct
Karen Hanley

Written by Karen Hanley

Karen Hanley is a Sage Intacct Senior Solution Architect with RKL eSolutions, LLC. Karen is an accomplished professional services consultant with over 25 years’ experience managing the implementations of accounting/ERP software through all phases of the project life cycle. Her areas of expertise are in software configuration, project management, data conversion, documentation, process improvements, reporting, and training. When not working, Karen enjoys traveling, sailing, golfing, and spending time with family and friends.