For Sage 50 Accounting users
Sage 50 bank reconciliation software to reconcile your bank account automatically
Stop scrolling the Account Reconciliation window looking for one check. Upload the bank statement and a Sage 50 General Ledger export, and get the list of items to clear, the transactions Sage 50 is missing and the entries to post.
Nothing to install in Sage 50. No bank login.
Try one month now. Files encrypted, demo files deleted after 24 hours.
Reconcile my Sage 50 monthThe short answer
Sage 50 reconciles one bank account at a time in Account Reconciliation, and you tick every cleared check and deposit yourself. To speed it up, match the statement against a Sage 50 General Ledger export first. Software pairs the lines in seconds, so in Sage 50 you only tick from a finished list and post the few items that are missing.
Checking, March
Statement vs Sage 50
| Date | Line | Amount | Status |
|---|---|---|---|
| 03/04 | Check 2215Ridgeway Supply | -1,284.50 | Clear |
| 03/09 | Deposit3 customer checks | 5,960.00 | Clear, grouped |
| 03/15 | ACH payrollDated 03/14 in Sage 50 | -8,412.77 | Clear |
| 03/31 | Service chargeNot in Sage 50 | -25.00 | Add |
Where a Sage 50 bank reconciliation eats the afternoon
One long list to tick
Account Reconciliation shows every uncleared check and deposit for the account. With 300 lines a month, finding the 40 that cleared this week is slow scrolling.
Deposits that do not match
Receipts entered one by one in Sage 50 arrive at the bank as one deposit. The imported statement line cannot clear until you work out which receipts belong to it.
An unreconciled difference
The window shows a number that is not zero and nothing about where it comes from. A swapped digit, a duplicate or a missing fee all look the same.
Months that piled up
Sage 50 saves one statement date at a time. Three months behind means three rounds of the same search before the books are ready for the CPA.
How to reconcile a Sage 50 bank account in four steps
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1 Export the cash account from Sage 50
In Reports and Forms, open the General Ledger report, filter it to the checking account and the statement month, and send it to Excel. Keep the date, reference, description, debit and credit columns. That layout reads cleanly because a debit to cash is money in and a credit is money out.
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2 Download the bank statement
The PDF statement works, and so does CSV, XLSX, OFX, QFX or QBO from online banking. Scanned paper statements are read on paid plans. All accepted files are on supported formats.
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3 Let six matching passes run
Check number and amount first, then amount within a date window, then grouped deposits that add up to the cent. What is left is short: statement lines Sage 50 does not have, Sage 50 lines the bank never saw, near matches and duplicates.
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4 Clear and post in Sage 50
Open Tasks, then Account Reconciliation, and tick the items on the matched list. Enter the service charges and interest, post the missing entries from the adjusting entries file, and the unreconciled difference reads zero on the first try.
What you get back for each Sage 50 account
Cleared list
Every item to tick, in order
Matched pairs sorted by date with the check or reference number, so you tick down the Sage 50 list without searching.
Missing in Sage 50
Fees, interest and forgotten debits
Bank lines with nothing behind them in the books, from a $25 service charge to an autopay nobody entered.
Outstanding items
Checks still in the mail
Sage 50 entries the bank has not paid yet carry to next month automatically, the same list your outstanding checks schedule needs.
Near matches
Typos found by amount
A check for 1,450.00 entered as 1,540.00 shows up paired, with the 90.00 difference beside it.
Adjusting entries
A CSV of what to post
Date, description, suggested account and amount for each missing item. Map it through the General Journal import in Sage 50 or type the few lines by hand.
Report
A file for your CPA
A PDF and XLSX bank reconciliation report with statement balance, outstanding items, adjusted balance and preparer.
Who reconciles Sage 50 this way
Office managers and owners
Contractors, distributors and family businesses that have run on Sage 50 since it was Peachtree, with one or two checking accounts and a few hundred lines a month.
Bookkeepers with Sage 50 clients
Each client company gets its own workspace on the Business and Firm plans, so one subscription covers every Sage 50 file you reconcile. More on bank reconciliation for accountants.
Anyone behind before taxes
Six months unreconciled and a filing deadline coming. Match all the statements first, then save each month in Sage 50 in order, as on catch up bank reconciliation.
Sage 50 on its own or with BankReconciler
| Task | Sage 50 Account Reconciliation | With BankReconciler first |
|---|---|---|
| Single checks and deposits | Tick each one, or clear what an imported statement pairs | Matched by check number, amount and date |
| One deposit, several receipts | Work it out with a calculator | Grouped when the receipts add up exactly |
| Unreconciled difference | Shows the amount, not the cause | Lists the missing, duplicated or mistyped line |
| Several months behind | One statement date at a time | All statements matched at once, open items carried forward |
| Saving the reconciliation | Done in Sage 50 | Still done in Sage 50, from a finished list |
| Cost | Included in your Sage 50 subscription | From $49 a month, see pricing |
If your account has 30 lines a month and they clear on their own after an import, Sage 50 alone is enough and you do not need us. The time savings start when a month has hundreds of lines, batched deposits, or a difference you cannot find. If you are thinking of leaving Sage 50 for QuickBooks, the same matching works there too, see bank reconciliation for QuickBooks.
Sage 50 bank reconciliation questions
How do I do a bank reconciliation in Sage 50?
Open Tasks, then Account Reconciliation, and pick the bank account. Enter the statement date and the ending balance from the statement, add service charges and interest with their offset accounts, then tick Clear for every check and deposit that appears on the statement. When the unreconciled difference reads zero, click OK to save the reconciliation for that date.
Does Sage 50 have automatic bank reconciliation?
Partly. Sage 50 can import a statement downloaded from your bank and clear some of the lines on its own, but anything it cannot pair is left for you to match by hand. Batched deposits, card fees and amounts that differ by a few dollars are the usual leftovers, and those are the lines BankReconciler pairs before you open the window.
Why will my Sage 50 bank reconciliation not balance?
Usually one of five things: a transaction missing from Sage 50, one entered twice, an amount typed with two digits swapped, a check from an earlier month voided or edited after it was cleared, or the wrong ending balance on the screen. Matching the statement against a General Ledger export lists the exact line instead of a bare difference.
Can I reconcile several months in Sage 50 at once?
Not in one step. Sage 50 saves one statement date at a time, so you still work through the months in order. What you can do is match all the statements against one export first. Each month in Sage 50 then turns into a quick tick through a finished list rather than a fresh search.
Do I need to connect Sage 50 or my bank?
No. You upload two files: the statement your bank already gives you and a report exported from Sage 50. Nothing is installed in Sage 50, no add-on touches your company file, and there is no bank login to share. Files are encrypted, as described on the security page.
Close the Sage 50 month without the scrolling
Upload last month's statement and a General Ledger export. Tick from a finished list.