To set up a new bank account in Sage go to the Banking tab, and click on ‘New’.
A drop down menu will appear and you can select ‘Bank Account’.
A pop up window will appear, you will enter the account particulars.
Account Type: Select the bank account type (Current, Savings, Credit Card, Cash in Hand, Loan, or Other)
In this set up we've selected 'Current' for the bank account type, since we are adding a HSBC current account to Sage:
Account Name: Provide the custom name of the account. The name you want to appear on your Banking page and on reports.
From here you can also add your account particulars.
This includes the options of an Account Number and Last 4 digits , which will only apply if the Account Type selected is Credit Card.
Sage also provides the option to Add an opening balance. Before entering the opening balance, please specify the accounts start date in your Sage financial settings.
Adding opening balance
Opening Balance Date: Enter (or select) the opening balance date.
Balance or Overdrawn Balance: Select if the bank account has a positive opening balance or is overdrawn (or you can indicate an overpayment balance for credit cards and loans).
Opening Balance: Enter the amount of the opening balance.
Click 'Save & Connect Bank' to create a secure connection to your bank or 'Save' to save it without connecting to your bank.
Tip: We recommend connecting the bank account you add to your bank's feed. Doing so allows your bank transactions to automatically download, which saves you the time of manually entering transactions. It also ensures that the account is always up to date and simplifies statement reconciliation.
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