Hi RickBC44 - it's been my learned experience that downloading your transactions in Sage50 is really only for reference.

It won't be what you want to hear, but I always enter all transactions--typically around 80 a month, depending on how busy things are.

I checked with our accountant about this, and he says those programs that do offer importing transactions to save having to manually enter them, ALWAYS end up being a nightmare, i.e. re-done.

And to be honest, I can believe that--the thing is, how is Sage50 really supposed to know what the bank transactions are? For example, if you make a purchase with a local computer supplier, how would Sage50 know if the purchase should go to an asset account (for capitalization) versus say, the office supplies account, based solely on the information the bank statement shows for a given transaction? (That info usually being a date, some cryptic few letters indicating the vendor name, and a dollar amount... not much to go on.)

For myself, I like having a handle on the actual transactions so I really know where the money is going and coming from.

At any rate, perhaps double check this with your accountant for their opinion on this, just to be safe.

Best,

Kristine

Hi RickBC44 - it's been my learned experience that downloading your transactions in Sage50 is really only for reference.

It won't be what you want to hear, but I always enter all transactions--typically around 80 a month, depending on how busy things are.

I checked with our accountant about this, and he says those programs that do offer importing transactions to save having to manually enter them, ALWAYS end up being a nightmare, i.e. re-done.

And to be honest, I can believe that--the thing is, how is Sage50 really supposed to know what the bank transactions are? For example, if you make a purchase with a local computer supplier, how would Sage50 know if the purchase should go to an asset account (for capitalization) versus say, the office supplies account, based solely on the information the bank statement shows for a given transaction? (That info usually being a date, some cryptic few letters indicating the vendor name, and a dollar amount... not much to go on.)

For myself, I like having a handle on the actual transactions so I really know where the money is going and coming from.

At any rate, perhaps double check this with your accountant for their opinion on this, just to be safe.

Best,

Kristine

Thanks Kristine, I appreciate your response. I will follow your advice especially since several other people have told me the same thing. Happy new year!