Bank Statement Import (BSI), allows bank statements to be imported into Sage X3.

Importing bank statements into Sage X3 with the BSI function, facilitates bank reconciliation, automates the recording of transactions and ensures more accurate and efficient financial management.

Presentation and features

Advanced Bank Statement Import (BSI) allows you to :

1. Import bank statements from the bank into Sage X3.
2. Process these bank statements.

Sage X3 automatically searches for Sage X3 transactions (invoices, payments) to associate them with the transactions on the bank statement, with the aim of typing and/or punching them.

1. • For collections from the statement: search for the corresponding customer invoices in Sage X3 to automatically generate the payment and settle the payment with the invoice.
     BENEFIT: Saves time, no need to manually enter client receipts.
   • For bank statement disbursements: search for the corresponding supplier payment in Sage X3 to reconcile the transaction with the accounting document.
     BENEFIT: No need to reconcile accounts with the bank as this function does it automatically.
   • If Sage X3 does not find a match, it is possible to manually search for or manually enter an invoice or payment.
2. Importing can be done manually or automatically using bank communication tools (such as Sage XRT).
3. Before importing a bank statement into Sage X3, it is important to ensure that the data is in a compatible format.
   The classic bank file formats that can be used are: CFONB, MT940, CAMT053 or CSV and BAI2 (depending on your version of Sage X3).

Solving problems: towards process automation

Our customers face several major problems when processing bank statements.

• Significant loss of time and redundancy are associated with manually entering bank statements into accounts.
• Matching bank statements to account lines is a time-consuming and tedious task, often prone to human error.

Bank Statement Import (BSI) provides an effective solution to these problems by automating these two critical operations.
Thanks to this automation, users only need to check the consistency of the proposals generated by Sage X3 before validating the bank statements, optimising time and reducing the risk of error.

1. Import process

The import process may vary slightly depending on the version of Sage X3 you are using.
To access the import function, you will need to :

• Navigate to the Third Party Accounting module in your Sage X3.
• Select the bank statement import option as shown below.

Finally, this task can also be subscribed to to automate the import.

2. Access to the list of bank statements to be processed

3. Letter the statement

Letter the statement so that Sage X3 searches for the corresponding transactions (invoices, payments).
The user must then check that each reconciliation is consistent and can then validate the statement to generate the payments and/or proceed with the tally.

For each transaction, we have bank details such as the IBAN, references, etc.
Sage X3 can use this information to perform an automatic bank reconciliation.

Good Practices

• Training and documentation: Training users in the import and bank reconciliation process.

To find out more about our training courses, click here.

• Regular validation: Periodic validation of imported transactions to maintain accurate financial data.
• Software Updates: Keep Sage X3 and its modules up to date with the latest enhancements and fixes.

By following these steps and best practices, importing bank statements into Sage X3 can become an efficient and reliable process, contributing to rigorous financial management and reducing manual errors.

Our teams are here to help. Got a question? A requirement?

If you have any further questions, please contact us.

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Deveho Team

Video Sage: Post validation transfer and third party totals