Can I Delete a .ofx File that I Imported to a Bank Reconciliation in Sage 50?

Sage accounting software is one of the most extensively implemented accounting programmes. It is used in routine accounting for anything from basic transactions to sophisticated ones.

It is basically in charge of the financial sector for any specific firm enterprise.

Sage provides several versions of this popular programme, each with its unique set of trading capabilities. Users have several options for picking the optimal version based on the suitability of the requested programme. These versions are quite short and excel at structured set programming abilities for the purpose.

Usually, a more common question arises if one can delete a .ofx file that is imported to a bank reconciliation in Sage 50? To get a more detailed insight to know about this, let us dig deeper.

In case you are wondering what this (.ofx file stand) for? Let's shed light on it.

The Open Financial Exchange (OFX) file format evolved from Microsoft's Open Financial Connectivity (OFC) and Intuit's Open Exchange file formats. The purpose of the file revolves around being the center of a financial data-stream format. OFX is an SGML-based file format which is a prominent hand in replacing Open Financial Connectivity OFC.

Individual users are often provided with OFX files in the form of credit cards or banking statements from a financial institution.

Now, if you are wondering, is it possible to delete the concerned .ofx file in case it's imported to a bank reconciliation in Sage 50. Then it’s quite complicated, let us walk through the listed information to know more precisely.

Is it possible to undo an import in sage?

Yes, it is possible to do so. One can manually reverse the transactions; for example, if you import sales invoices, you can use sales credit notes to reverse them.

For deleting transactions:

First, go to the options Transactions and then hit Delete.

Bank Reconciliation in Sage 50

Sage 50 stands as the prominent accounting software along with its Bank Reconciliation feature. If you are seeking to make your life easier and end the unnecessary time spent on manual labor, it’s right about time to switch to using this feature and make use of Sage 50 at its full capacity.

The most common question arises now, how can one start with this reconciliation process? To know more, follow the instructions presented below.

The following steps are mentioned for starting the process of reconciliation:

For the foremost step, proceed to select Account Reconciliation from the presented Tasks Menu or can hit on the Banking tab on the left side of the window, and then select the Reconcile Accounts option.
Next, the Reconciliation window will appear.
After the subsequent step, proceed further from the list situated at the top of the window, and choose the account to reconcile from.
Thereafter, to continue to proceed to then input the statement ending date.
Once the above steps are done, now, enter the bank statement ending balance at the bottom of the window.
Also, if you are willing to input interest or bank charges, expand that area by clicking the double-arrow button, then enter them in the appropriate fields.

Find -: sage 5 january 2019 payroll update

What is the procedure for restoring a backup?

For restoring a backup, follow the step-by-step guide to eliminating all possible chances of errors.

The process for restoring a backup is as follows:

For the foremost step, choose File and then click on the Restore option.
Now, browse to find the appropriate backup and then hit on Open.
After this, select the option naming Next.
Now, Choose a restoration method:

An Existing Company or Overwrite Existing Company Data
Now, Make a new corporation with the recovered data or A New Business Please keep in mind that selecting this option will restore the backup to a new folder.

Thereafter, proceed to hit on Next.
Once the above-mentioned steps are done, proceed to select restore options:

First, Customized Forms
Business Intelligence Reports or Intelligence Reporting Reports
Online Transactions
Company Data

Thereafter, hit on next.
Now, Confirm the restoration selections and select the option Finish.
When the restoration is finished, the firm will reopen.

Conclusion

The above-presented information has effectively guided you through the entire concept of Can I delete a .ofx file that I imported to a bank reconciliation in Sage 50. All the optimum steps are listed here and also the step-by-step guide to processing the procedures.

All required actions are supplied, as well as the whole step-by-step approach guide. The article covers all the required information for a detailed deeply involved information outlook. Follow this article to avoid any unnecessary errors.

If you are still facing any issues or have any doubts concerning the above-listed information you can connect with our customer helpdesk 💁 .

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