About OFX Statements

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About Downloading Bank Statements

Bank Reconcile OFX Statements

Bank Reconcile Statements

Importing OFX Statements

Matching transactions from a printed bank statement to transactions in your accounting system can be a time-consuming and tedious process in a manual reconciliation. Automating the matching process can save you a lot of time, especially if you have many transactions to reconcile.

Sage 300 permits the automatic reconciliation of electronic bank and credit card statements in OFX (Open Financial Exchange) format.

First, download your OFX bank or credit card statement from your financial institution's website to a folder on your computer’s hard drive or a network location.

Once you have downloaded the OFX file, import the statement into your Sage 300 company using the Import OFX Statements screen. (To import statements, you need Import Bank Services Data and Reconcile Bank Statements security rights.)

You can then reconcile transactions electronically using the Reconcile OFX Statements screen.