Bank Feeds-Common Error Codes

Bank Feeds error

The larger your company is, the less time will be available to you. This is where Sage 50 has become such an important and trusted friend for modern businesses. Now you can view all your accounting and banking related information, in one place. 

However, some of our readers have informed us that they have received certain error codes while working with bank feeds in Sage 50. In this blog, we will list some of them and will discuss a general troubleshooting method to solve the issues related to these error codes.

Some common Error Codes related to Bank Feeds

  • Error code 401
  • Error code 402
  • Error code 403
  • Error code 406
  • Error code 407
  • Error code 408
  • Error code 409
  • Error code 412
  • Error code 414
  • Error code 415
  • Error code 416
  • Error code 421
  • Error code 422
  • Error code 424
  • Error code 426
  • Error code 428
  • Error code 429
  • Error code 430
  • Error code 481
  • Error code 505
  • Error code 507
  • Error code 508
  • Error code 522
  • Error code 523
  • Error code 801
  • Error code 802

Method to Solve the Issues related to Bank Feeds

The following steps would help you in general to solve common issues related to bank feeds-

  • Verify the current status of your bank feed. From this, you will get to know if there are any issues related to connecting to your bank.
  • Make sure that the credentials you have provided to connect the bank feed are absolutely correct. Please check the following-
    • Log in to your online banking portal and confirm if the security information and password are correct.
    • Verify you have entered the same information when re-entering your credentials or setting up the bank feed.
  • Check if there have been any changes to the terms or conditions related to your online bank account. Check if there are any outstanding messages in this regard. Any such recent changes may prevent the Sage software from connecting to your account and you may receive common error codes related to bank feeds.
  • Check whether the details entered by you while setting up your bank feed are correct.

In the section above, we have discussed a general procedure to get rid of the common bank feed error codes in Sage 50. Hope this will help you to connect to your bank feed smoothly. If you are still having any issues in following these steps or if you have any more queries, you may get in touch with some authorized Sage experts.

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FAQs

How can I Resolve the Sage 50 Error Code 402 related to Bank Feeds?

Please follow the steps below-

Check if your browser is blocking requests from the Sage software
a) Modify the settings of your browser to allow cookies from other sites.
🔹 Open your browser
🔹 navigate to the Help section 
🔹 Check the instructions 
🔹 If needed, make necessary modifications to allow cookies from other websites

b) Try to connect to your bank account again and check if you are getting this issue
 Check if the details you entered while setting up the bank feed are correct
🔹 Check if you are connecting to the proper bank account
🔹 Check you have entered the correct information while setting up the bank feeds. If there is any discrepancy, make sure to correct it.
Check that your online bank credentials are correct
🔹 Log in to your online banking portal. This is to confirm that your security information and password are correct.
➢ Verify you have entered the same information when setting up the bank feed.
🔹 If your bank needs multi-factor authentication, it must have sent a code through email or text. Try again by entering this piece of additional security information. Check if you are still getting the issue.

How can I Manage the Bank Feed Rules in Sage 50cloud Accounts?

Here are the steps to follow –
🔹 Click on Bank accounts
🔹 Choose the relevant bank account.
🔹 Click on Bank feeds
🔹 Now click Manage rules
🔹 Select any one of the options below:
View -to obtain more details about a rule
Delete -to delete the rule
Edit -to modify the rule
🔹 If you do not intend to review the transactions posted using this particular rule, you can uncheck the Review transaction before posting box.
🔹 Click on Close

How can I enable Bank Reconciliation in Sage 50?

Please follow the steps below-
🔹 Open the Sage 50 application
🔹 Go to the Home window:
➢ If you are in Enhanced View, choose Company and then double-click on Chart of Accounts.
➢ If you are in Classic View, double-click on the tab named Chart of Accounts.
🔹 Now, do a double-click on your bank account
🔹 Click on the Reconciliation & Deposits tab 
🔹 Mark the checkbox next to Save Transactions For Account Reconciliation.
🔹 The Setup button will be displayed at the bottom of the page.
🔹 Click on this button and set up the revenue accounts for:
➢ Exchange gain
➢ Interest income
➢ Adjustments
➢ Error-Gain
🔹 You can also set up expense accounts for the following
➢ Bank charges
➢ NSF Fee, and 
➢ Interest Expense.
🔹 If required, you can rename the types of Interest and Expenses available in the bank statement.
🔹 Click OK to save your settings

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