How to Import Credit Card Statement/Transactions in Sage 2019

Updated On: March 22, 2024 7:15 am

import credit card statement transactions sage 2019

Usually within the 4-7-7 Import Credit Card Transactions window, one can utilize the Sage Bank Feeds in order to download credit card transactions automatically over to Sage 100 Contractor.

Likewise the user can also download credit card transactions from their bank to an Excel or CSV file, edit the data as required and then copy the transactions over to the 4-7-7 Import Credit Card Transactions grid, or one can also type the transactions onto the grid.

Once the downloaded transactions are displayed within the grid, the user can then select which transactions to add over to their company records.

Note: The Bank Feeds can connect to one credit card account per card issuer (bank). In case the customer is using Bank Feeds to download transactions from a bank for which they have more than one credit card, then they need to create separate card issuer accounts for every credit card number so that they can import and reconcile transactions for all the credit card accounts. For example, say the customer has a 2 VISA credit cards from one bank, each with a unique number:

  • XXXXXXXXXXXX9256
  • XXXXXXXXXXXX9214

In this case, they could set up 2 separate card issuer accounts (in the 4-7-1 Card Issuers Accounts window), in the following manner:

  • 2005 – Visa 9256
  • 2006 – Visa 9214

Next, add the corresponding credit card to every issuer account in 4-7-1 Card Issuers Accounts.

If multiple card holders share a credit card number, in this case you do not need to set up separate general ledger accounts or separate issuers. One can simply import credit card transactions for a single general ledger account if there is only one credit card account number to be reconciled.

Read More : How to do Credit Card Processing in Sage 50 US

Importing Bank Credit Card Statements

Sage 2019 accounting software allows you to import credit card statements and bank that you need to download.

Note:

  • When downloading your Internet bank statement, choose the format OFX. This is an electronic file format carried by most of the banks.
  • If you are a member of a bank that doesn’t support the OFX format, then simply download the bank statement in CSV format.
  • Consider that when importing and mapping the bank transactions, if the system discovers no activity for two hours, the computer logs off automatically for security reasons.
    • Go to the Transaction & Banking, to import the bank statements.
    • Banking menu option appears.
    • Click on the button Import Bank Statements
  • Select the Credit Card or Bank account from the dropdown menu. The statement information will be imported into this credit card or bank account that you have chosen.

There are Two options for Date Range available

All-Transactions: Choose the All Transactions option when you wish to import all the transactions enclosed in the import file.

Dates to Import:  Select dates to Import option to allow importing new transactions by choosing the relevant date range.

The Transactions will appear as follows:

  • You get an option to see the prior 10 transactions imported:
    • When carrying the transactions, any modifications when moving to a fresh page made on-screen will be saved.
    • Accounting will detect automatically whether the transaction is a payment or a receipt, and accordingly display.
  • Accounting allows you to divide transactions on the bank/credit statement and connect the amounts to other transactions. You can divide a transaction by simply clicking on the transaction button.
  • Choose the other transaction that you are dividing the chosen transaction with, and fill the amount.
  • Click on the button Save Changes. The transaction will now be displayed as split on the Bank/credit Statement.

Duplicates Found Option

When you are making use of the Bank Feeds or import the Bank Statements, you will be informed of potential duplicate transactions that can be reviewed. When using the Online Payments method by Sage Pay and customers pays you, the receipts will be matched automatically and reconciled when importing the Sage Pay bank statement.

In case, you selected the Duplicates Found the link in the field Selection, Accounting explains you the place where Duplicate Transactions were found.

  • Select the option Show More/Less
  • Click on the option View Duplicate Transactions to see the duplicate transactions
  • A list of potential duplicate transactions will appear.
  • The duplicate line will receive a strike when deleting it

Also Read : Credit Card Reconciliation in Sage 50

Final Words

Import Credit card statement/Transactions in Sage 2019 are easy if you follow the given step. However, if you are still unable to import the bank/credit card statement error, then connect with the highly competent team to avail reliable support. The certified Sage specialists are actively available for 24×7 at Accounting Advice toll-free Sage 50 support number to support and guide you as per your requirements.

Accounting Professionals & Specialized Experts

Want quick help from accounting software experts? Get in touch with our team members who can install, configure and configure your software for you. Proficient in fixing technical issues, they can help you quickly get back to work whenever you encounter an error in Sage software. Our team is available 24/7 365 days to assist you. To get in touch.

Frequently Asked Questions (FAQs)

How can one Import the Credit Card Transactions into Sage?

Connect your credit card account to your financial institution, follow the steps in the Bank Feeds wizard, and then display the credit card transactions in the grid in the 4-7-7 Import Credit Card Transactions window. You can then choose which transactions to add to your Sage 100 Contractor records.

How can one Record a in order to do this:

In order to do this:
1. Go to Banking, 
2. Next click New 
3. Now click on Bank Account.
4. For the Account Type list, select Credit Card.
5. This adds a credit card icon to the title to help you to identify it easily.
6. Next Enter an account name to help you identify this as your credit card.
7. Now Enter the remaining details if required.
8. Finally Click Save.

How can one Import Bank Statements into Sage?

In order to do this, you need to:
1. Navigate to the Banking.
2. Next Select the account you wish to import transactions to. 
3. From Actions select the drop-down arrow 
4. Finally Import statement.

What is meant by Credit Card Import?

This is a process of bringing credit card transaction data over to the digital tool, such as a financial management platform, budgeting app, or even the accounting system.

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