Bank rules automate the categorization of imported bank transactions, saving time and ensuring consistency in your bookkeeping.
When you import a bank statement, the system checks each transaction against your defined rules and automatically allocates matching transactions to the appropriate accounts.
Rules are processed in order of specificity - more detailed rules (with more conditions) are applied before general rules.
Payment Rules - Automatically categorize money going out of your bank accounts:
• Regular supplier payments and recurring expenses
• Utility bills, rent, and other operational costs
• Bank fees, interest, and financial charges
For more information see: Payment Rules
Receipt Rules - Automatically categorize money coming into your bank accounts:
• Customer payments and sales receipts
• Interest income and investment returns
• Refunds, rebates, and other income sources
For more information see: Receipt Rules
Best practices for creating effective bank rules:
• Use specific keywords that uniquely identify transactions
• Test rules with a small import first to verify accuracy
• Review and update rules periodically as your vendors and transaction patterns change
• Create separate rules for different accounts if transaction patterns vary