Setting up ebanking in Sage 200

E-banking in Sage 200cloud – How to set it up

In Sage 200 by Declan Bonar

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Reading Time: 3 minutes

Are you fed up with having to make manual payments in Sage 200cloud?

Sage 200 offers the ability to pay your suppliers electronically with an array of E-banking services. There are over 20 compatible banks that you can pick from which include multiple products. Before using these in Sage 200, you must subscribe to the E-banking services for your bank. With many of these services, you can reconcile your bank statement or make payments to your suppliers.

Why should you set up E-banking?

With the general movement of accounting towards online banking, it would be nonsensical to not even consider E-banking. It provides so many possibilities and ease of access not seen before in the accounting marketplace.

Via E-banking in Sage 200, you can reconcile your bank statement automatically, reducing the amount of time you put into this strenuous task. This will make space for you to undertake activities of more importance for your firm, saving you time and money. Additionally, you can pay suppliers and your VAT return electronically (UK based only). However, bear in mind that foreign suppliers cannot be paid via E-banking, so do not overlook this.

Thinking more generally, the movement towards online banking now is good preparation for the eventual future. It is significantly easier to view your transactions in and out of your account, giving you clarity over your income and expenses. Also, as previously stated, the online banking system via Sage 200 allows you access to 20 compatible banks. These banks include powerhouses like HSBC and JP Morgan, showing just how large this service already is!

How to set up E-banking

To set up E-banking, you will first need to make sure that the E-banking components have been installed. You can do this by going to the cash book account you want to set up with E-banking, click on amend account and go to the E-banking tab.

When you first go to set this up, you will get the below screen:

E-Banking-Amend-Account

E-Banking-Amend-Account

If there is nothing to display in the drop-down, this means that the components haven’t been installed. In Sage 200c and Sage 200 Online, you can go into the cog in the top right-hand corner and install the E-banking components from there. In previous versions, these are installed on the initial set up of Sage 200 on client machines.

Once these have been installed, you will then be able to select your choice of service to use. Depending on which service you choose, you can then select a function. These usually include Payments Only, Reconciliation Only or Payments and Reconciliation. If one or more of these options are unavailable, the service will not support this.

How to fully utilise your new E-banking system

Now, should everything be running smoothly, you can start to fully utilise your new system. To start paying your suppliers electronically, you will firstly need to set up a Payment Group that produces an E-banking document. You can do this in: Purchase Ledger > Utilities > Ledger Set Up > Ledger Settings. In the Payment Groups tab, open the drop change the Payment Document to Electronic Payment.

Now you have created the payment groups, go through your suppliers that you wish to pay electronically and amend the payment group they are associated with. Do this by going to the Supplier List, selecting the supplier and clicking on Amend Account. Go to the Payment Tab and change the Payment Group.

Now to set the E-banking service you use! Go to the Cash Book account you wish to make the payments from and select Amend account. You will now see the additional tab of E-Banking at the top, from here you need to set up the service you wish to use. Following that, select from the drop-down menu your desired E-banking service. Choose the E-banking functions you wish to use for this account, from the selections available; Payments only, Bank reconciliation only or both.

For an array of helpful Sage 200 help guides, please take a look at our Sage 200 guide library. Also, if you are still having problems with your new system, please do not hesitate to contact us!

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