Sage Intacct bank feeds—continuous visibility into cash flow

Sage Intacct Bank Feeds automates the flow of bank and credit card transactions directly into your accounting system, providing near real-time updates and continuous visibility into your organization’s cash flow—streamlining bank reconciliation and enabling faster, more accurate financial insights.

There are certain tasks that almost everyone dreads. For some, it’s household chores like mowing the lawn or vacuuming. Thankfully, technology has created solutions like robot lawnmowers and robot vacuums to make life easier. For accounting teams, one of the most time-consuming tasks is bank reconciliation. The good news? Sage Intacct Bank Feeds automates much of this process—removing manual headaches and providing continuous visibility into your organization’s cash flow.

Since its launch, Sage Intacct Bank Feeds has become a favorite for many finance professionals, yet some organizations still haven’t taken advantage of this powerful, built-in automation. If you’re not using Bank Feeds yet, you’re missing out on a free, integrated tool that’s ready and waiting for you—just requiring some simple initial setup.

How does Sage Intacct bank feeds work?

Sage Intacct Bank Feeds connects your bank and credit card accounts directly to Sage Intacct. Once connected, an automated feed is established, allowing transaction data to flow seamlessly into your accounting system. Bank Feeds then automatically matches these payments and credit card transactions to your invoices and purchases.

The system checks for new transactions throughout the day, ensuring your financial data is updated in near real time. The configuration is straightforward, but if you need assistance, the Rand Group team can guide you through the process.

Sage claims compatibility with over 10,000 banks and credit card companies, so it’s highly likely that your institution is supported.

Simplify the customer payment process

With more customers paying invoices electronically, Sage Intacct Bank Feeds captures those payment transactions and automatically matches them to the correct invoices. If a transaction can’t be auto-matched, you can easily apply the payment manually. Regardless, you benefit from having payment data flow directly into Sage Intacct, reducing manual data entry and the risk of error.

Transactions are fed directly into the reconciliation function, where they are auto-matched. Any unmatched deposits are sent to the Bank Transactions page, enabling your team to quickly and efficiently apply customer payments and streamline reconciliation at month-end.

Streamline the credit card transaction process

Credit card reconciliation is often even more tedious than bank reconciliation. With Sage Intacct Bank Feeds, you no longer need to wait for monthly statements. Instead, the credit card feed creates transactions directly from the feed, expediting and simplifying the reconciliation process.

Filter transactions for greater insight

Sage Intacct Bank Feeds enables you to filter transactions by date, account type, or by unmatched status, making it easy to find and manage the information you need. The platform also displays key information—such as statement date, last reconciliation date, and last bank feed date—giving you instant insights into your cash flow and reconciliation status.

Moving toward a continuous close

One of the most significant advantages of Sage Intacct Bank Feeds is its support for a continuous close accounting process. Instead of waiting until the end of each reporting period, your organization’s accounting system is perpetually up to date—giving you access to real-time financial data for better decision-making. This approach also helps identify errors or issues much faster, so you can take corrective action immediately.

Implementing a continuous close requires a robust accounting platform like Sage Intacct and efficient procedures for recording and reconciling transactions—both of which are delivered by Bank Feeds. With strong internal controls, your organization can prevent errors or fraud, while gaining ongoing visibility into cash flow.

Sage Intacct Bank Feeds removes much of the manual effort from bank reconciliation and empowers you with real-time financial insights—making your month-end close faster and simpler.

Want to see Bank Feeds in action? Watch our on-demand webinar to learn more about how Sage Intacct Bank Feeds can transform your finance operations.

Next steps

If you’re ready to streamline your financial processes and gain continuous visibility into cash flow, Rand Group can help. Our consulting team has deep expertise in Sage Intacct and accounting automation. We can guide you through the setup of Bank Feeds, answer your questions, and help you optimize your finance operations for efficiency and insight.

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Take the next step toward a smarter, more automated accounting process with Rand Group by your side.