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

Written by Karen Hanley | Dec 8, 2021 6:00:00 PM

 

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

  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.