Abstract: A sheet feeding, folding and accumulating machine has an integral sheet storing and feeding mechanism, and a plurality of feeding inputs from which sheets are fed to a path of travel through the machine from the sheet storing and feeding mechanism or from an external source. A pair of buckle chutes are mounted in the machine, and suitable feeding and folding rollers are mounted adjacent the input ends of the buckle chutes for folding sheets that are fed into the buckle chutes. A movable buckle chute bypass gate is mounted adjacent the input end of each buckle chute, the gates being movable between opposite positions to cause sheets either to enter one or both of the buckle chutes or to bypass the buckle chutes and proceed directly to an accumulating mechanism that is mounted adjacent an outlet end of the machine to control whether each sheet will be folded or not folded before being deposited in the accumulating device.