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Sage improves banking features for Sage Accounting customers

Simplifying and automating the data entry process to remove friction in SMB and accountants banking reconciliation process

23rd November 2021 – Sage the market leader in cloud business management solutions has today shared updates to its Sage Accounting banking service. Addressing small business pain points and making it easier for accountants to run their practice, these updates remove the complexity of importing transactional data. The new features further automate the way customers reconcile their banking and accounting data, supporting customers and accountants with a live and accurate view of business performance.

Banking updates for end customers and accountants include:

  • Integrating new banking features into Sage Accounting enables customers to work more efficiently and helps to streamline the reconciliation of their accounts. The latest updates include:
  • Intuitive user experience - new design and interface enables accountants and customers to navigate and manage banking services more easily
  • New and additional ways to import statements – import transactions from customers bank account using any source (a bank feed, a .csv file or via AutoEntry) once in the system customers can apply posting rules to the transactions.
  • Automation to banking rules include:
    • Copy rules between accounts - ensuring that spend between a current account and a credit card is not missed.
    • Batch manage rules - giving accountants the ability to create a set of standard rules that can be applied across customer accounts
    • Updated import and export rules - enabling accountants to onboard customers more efficiently, and the ability to create a set of standard rules that can be applied across customer accounts
    • In addition, instead of having to create rules from scratch each time a new client is on-boarded, or a new bank account is added, accountants can now export existing rules and import them to the new account.

Banking UI, statement import, and batch management of rules have all been developed based on customer led feedback, using the banking services delivered as part of Service Fabric technology.

“It’s well known that data entry is the biggest admin task for small businesses. These improvements will help our customers simplify the bank reconciliation process.” said, Neal Watkins, EVP Small Segment, Sage “Listening to our customers feedback helps us to build the technology that best meets their needs. In turn, removing friction from our customers and accountants’ business will help them to save time, simplify and automate the data entry process – which in turn helps with increased accuracy.”

Supporting accountants with AutoEntry

More than ever, Accountants are looking at ways to work more efficiently as Making Tax Digital (MTD) increases the workload for accountants. The integration of AutoEntry with Sage Accounting ensures they are ready to automate the ingestion of large quantities of data as demand for service increases due to the further digitalisation of tax by the UK government. This in turn reduces their admin burden and frees them up to focus on their clients.

The Integration of AutoEntry enables customers to automatically import bank statements directly into Sage Accounting and have bank rules applied at the push of a button. In addition, the integration now helps customers record expenses and purchase invoices that make-up UK VAT returns.

Banking automation updates are for UK&I; CAN &US only.


About Sage

Sage is the global market leader for technology that provides small and medium businesses with the visibility, flexibility and efficiency to manage finances, operations and people. With our partners, Sage is trusted by millions of customers worldwide to deliver the best cloud technology and support. Our years of experience mean that our colleagues and partners understand how to serve our customers and communities through the good, and more challenging times. We are here to help, with practical advice, solutions, expertise and insight.