--- title: New Faster Bank Reconciliation Process description: Bank reconciliation process just got a lot faster and easier with the new Electronic Bank Feeds functionality in Sage 300 2020.2. 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But that process just got a lot faster and easier with the new **Electronic Bank Feeds** functionality in Sage 300 2020.2. Here’s a closer look. ### What Are Electronic Bank Feeds? With Electronic Bank Feeds, you can connect Sage 300 electronically with your bank to download transactions and then use this data to reconcile with your ledgers. Simply download transactions from your bank and match them up with your existing data in Sage 300. Bank feeds support over 80 financial institutions in Canada and more than 10,000 banks in the U.S. ### Why is That Important? While there was already existing workflow for monthly bank reconciliation in Sage 300, customers felt that the 2-step OFX functionality was still unnecessarily complicated and somewhat limited. With the new Bank Feeds, not only will you save tons of time and reduce potential errors with **auto-matching functionality** that simplifies your bank reconciliation process, the new feature also expands the number of banks and geographies supported. ### Connecting a Bank Feed 1. Open **Common Services > Bank Services > Bank Transactions > Reconcile E-Statements**. 2. In the **Bank Code** field, enter the code for the bank you are connecting to a bank feed. 3. Click **Connect Bank Feed**. 4. If this is the first bank feed that has ever been connected in your Sage 300 system, you must enter an email address. **NOTE**: it’s very important to carefully choose an appropriate email address as it will be used for communications, security, and to reactivate or deactivate a bank feed. To later change the email address, you’ll need to contact Sage Support. 5. Agree to the Terms and Conditions and click **Get Started**. 6. Select your bank. 7. Enter your banking credentials and select the account. 8. Choose a Start date for your historical transactions. Your Sage 300 system will attempt to download historical transactions as of that date. 9. Click **Process**. [Contact us](https://www.equationtech.us/contact) if you have questions about the new Bank Feeds or need help getting started. ### Related Articles ##### [Sage 300 & Windows 10 End of Life: What You Need to Know](https://www.equationtech.us/sage-accpac-blog/sage-300-windows-10-end-of-life-what-you-need-to-know) There’s been a lot of conversation lately around Windows 10 end of life and what that means for... ##### [From Start-Up to Quarter Billion – How Sage 300 Scaled Success](https://www.equationtech.us/sage-accpac-blog/from-start-up-to-quarter-billion-how-sage-300-scaled-success) We also have a [video version](https://drive.google.com/file/d/1ssdM9iHt6Wz86A-VDvAER03NdXkAodg9/view?usp=sharing) of this article, where you can hear directly from one of our ERP... ##### [How to Simplify Payroll and Job Costing with Sage 300](https://www.equationtech.us/sage-accpac-blog/how-to-simplify-payroll-and-job-costing-with-sage-300) Getting payroll to play nice with your job costing system is like fitting a square peg into a round... ## Need Help Now? 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