Set up bank rules

  • How to set up bank rules to automatically create new transactions from bank feeds.
  • When transactions are imported from your bank, bank rules are applied and new transactions are suggested when the conditions on the rule are met.
  • If the suggested transaction isn't quite right, edit the transaction.
  • You can't use bank rules to suggest matches to existing transactions

There are two ways you can create bank rules:

  • Create a set of rules and then apply them to incoming transactions.

    Select Rules at the top of the Incoming bank transactions page, then New rule.

  • Create rules as you process your incoming transactions. This adds the details of the transaction to the rule.

    Choose Create a rule next to the transaction you're processing

Create a rule

Give the rule a Name and specify whether it's used for Payments or Receipts.

Set up conditions

This is used to recognise the imported transaction and apply the rule.

  • Field - choose the information that you want to use to recognise the imported transaction. This could be the Reference and Date or Reference and Amount for example.
  • Value - set the conditions to use and the value you want to match such as the amount of transaction.

    Equals

    The imported transaction will have to exactly match the values.

    Use this for transaction such as direct debits where the amount or reference never changes.

    Contains

    The imported transaction will only have to contain part of value you set.

    This is useful for reference field. For example, the reference on a transaction might contain the supplier name plus a unique number for the transaction. By using Contains, you can always match the transaction to the correct supplier

    Does not contain You might want to use this where you want to deal with exceptions to a more general rule.

For example, if you have a direct debit set up with your Utilities company for £199 per month, your rule might look like this:

Field Values  
Reference Equals Utilities
Amount Equals 199.00

Set up the transaction details

This determines the details of the transaction that is created.

The details will vary depending on type of transaction you want to create.

  • For Bank Transfers - to avoid duplicates only set up this rule in one of your bank accounts. In the other bank account, you should select Match against the transfer that’s created in the other account.
  • For Other Payment and Other Receipt - the Ledger Account and VAT rate are mandatory.
  • For Payments on Account - you must choose a customer or supplier.

For our example of the Utilities company we want to create an Other Payment, so the rule will look like this

Transaction type Other Payment
Supplier Utilities
Method Credit / Debit Card
Reference Utilities
Description Electricity direct debit
Ledger Account Electricity (7200)
VAT Rate Lower Rate 5%

Apply rules to your transactions

When transactions are imported and shown on the Incoming Bank Transactions page, rules are applied and a message shows at the top of the page.

  • Select Create All if you're confident that rules are correct.
  • Select Review these transactions to check that the rules are applied correctly.

The Rule Applied message show when a rule has been used.

Screenshot of rule applied in bank feed on a transaction

If a rule can’t be processed in full for a particular transaction, a warning prompt appears.

Screenshot of warning on bank rule

If any data on a rule is no longer applicable, edit the rule so it can be used to match pending and future bank transactions.

Edit or delete a rule

Once you've edited or deleted a rule and you want to re-apply your rules to transactions that are already pending within the feed, choose Apply rules to pending transactions link.

  1. Find the rule to edit or delete
    1. Select Rules at the top of the Incoming bank transactions page, and open the relevant rule.
    2. Select Edit a rule as you process incoming transactions.
  2. Make the required change and Save.
  3. To remove the rule, click Delete.