In this blog, we are discussing how to add, edit, and delete a bank account to Sage 50. In Sage software adding or setting up a new bank account to manage your business’s transactions and cash flow is quick and easy. You may add any bank accounts for your businesses such as petty cash, savings, credit cards, loans, etc.
How to Manage Bank Account on Sage – Add, Edit, and Delete Bank Account
Here you learn how to Add, Edit, and Delete a bank account in Sage software.
Add Bank Account to Sage 50
- First, Go to the Banking section.
- Then click on New and then select Bank Name.
- Enter the name of the account, as you wish to appear on the Banking page and reports.
- Enter the account number (if you have one).
- Enter the last 4 digits card number.
- Add an opening balance >> Select date the opening balance date.
- Click Save >> let’s connect to the Bank.
- Enter the bank account address.
- Last, Click on the Save button.
Edit a Bank Account to Sage 50
- Open Sage program.
- Goto Banking.
- Click on the applicable account you want to edit.
- Enter the correct details as per required.
- Click on Save.
Delete a Bank Account to Sage 50
- Go to the Banking tab.
- Select the bank account you want to delete.
- Click on the Delete button.
Here, you need to fill in the following Details Sage 50 Bank Account Setup
- Log in to your Sage 50 with valid Log-in credentials.
- Now, select the Edit/New drop-down menu and then click on the new button.
z A/C Ref | Type the nominal code of your new bank account.
For converting your nominal code into the bank account, you are required to enter the nominal code and then press the tab key. Now, click on the Yes button. |
Nominal Name | For a new bank account, enter the nominal name, it should not be more than 60 characters. |
Account Type | Click on the account type. Once the transaction is submitted to this account, you will not be able to change the account type. |
Currency | If you are a foreign trader or you make use of the foreign currency, enter the bank account currency for which it is operational. |
Balance | It shows the account balance in real-time. To enter the opening balance, select the balance, once the transaction is recorded, click on the opening balance and then click on the Yes button. |
Minimum Limit | Enter the amount below that you don’t want the transaction recorded. The average may fall if the transaction is recorded below the set amount.
In the case, the account balance is less than the amount you mentioned, Sage shows your bank account tab in the red color. |
No Bank Reconciliation | If you don’t want to run the function Bank Reconciliation, mark the checkbox. |
- Now, go to the bank details and then enter the address of the bank and other contact details related to your bank.
- If you are using V21 or any previous version.
- Select the contact details and then click on the bank contact details.
Second Option If you are Using Sage 50 v24.2 or above
Go to the settings and then click on the information for any bank charges that need to be applied along with the payments as well as receipts. These are some of the default functions that you may need to change when they are necessary.
- To add the free memo text, select the Memo. You can also add it as an attachment to the bank account.
- Your new bank account is now ready to be used. All you need to check is that your nominal code is at the right place in your account.
- Now, click on the bank record.
- Select the bank account → now, and select the required bank account.
- Now, go to the toolbar → Select Edit Drop-down or new and then select the Edit button.
- If you are using V20 (Version 2014 → Click on the Record.
- Make amendments to the details of the record.
- Select the Save button and then click on the Close button.
- Now, set it as your default bank account.
- In the menu bar, you will see the settings option and then click on the Control Accounts.
- For a default bank, a nominal code must be entered. Now, select the OK button.
To know more about “add a bank account to Sage 50”, you can connect with Sage 50 Support toll-free number +1800-986-6931 or connect with us via Sage Online/Live Chat and our technical support team will get back to you.
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