Seamlessly create bank transactions with bank rules

Save time, reduce the chance of human error, and get more accurate reports with bank rules. Bank rules are a set of criteria that you define and are applied to incoming bank transactions. Use them with bank accounts connected to a bank feed or when you import a statement directly or via AutoEntry.

Why use bank rules?

Your business may have recurring or frequent transactions coming in from a bank feed or statement. For example, monthly payment of utility bills, rent, or deposit interest. With bank rules, you can automatically create these transactions instead of entering them manually.

How they work

When you create bank rules, you define the transaction type and what conditions apply to it. You may set conditions such as reference or amount to recognize specific transactions. For example if you pay your monthly gas bill by direct debit, the reference is always the same. Add other details such as contact name and payment method for further identification.

After creating rules, prioritize them so thatAccounting applies them in order. Only one rule is applied per transaction, so it's important to get the order right.

Once you’ve set up bank rules, they will be instantly applied to your next batch of incoming transactions.

When a transaction matches a rule

When a transaction matches a rule, a suggestion will be displayed asking for you to confirm the match. All you need to do is review the details and confirm that it's correct to create the transaction. If it's incorrect, you can fix it and then update your rules to catch it next time.

When you create, edit, or delete a rule, the change is applied to your next batch of incoming transactions.

What's next?

Create bank rules