How to use bank rules in QuickBooks Online

hi this is Jason from the QuickBooks team a bank rule looks at transactions coming in from your bank or credit card and then either adds them to your books automatically or pre- categorizes them for you to review let's go over how to create use and edit Bank rules to make categorizing transactions faster select transactions after you categorize and confirm two or more transactions with the same description QuickBook suggests you create a bank rule the bank rule will fill in the category and paye based on your previous categorizations you can also choose to autoc confirm transactions with the same description whenever they're downloaded later use this with caution because if you leave it on you won't get a chance to review the transaction before QuickBooks adds it to your books select create Rule and QuickBooks automatically categorizes and adds the the paye to all transactions with the same description instead of waiting for QuickBooks to suggest a rule you can select rules new rule to create one yourself first enter a name for the rule next select whether the rule is for money in or money out transactions and which bank and credit cards it applies to then enter what you want QuickBooks to look for in the transaction you can choose the description or Bank text which are detail sent by the bank and base it on text that either is or isn't there or base it on the amount of the transaction add as many conditions as you need if you already have some transactions awaiting your review select test rule to see if what you've entered so far applies to any of them this feature helps you confirm that you entered the correct conditions if the rule does not apply to any currently unreviewed transactions but should adjust adust the conditions finally you decide what QuickBooks does with downloaded transactions that meet the criteria you entered select whether you want the transactions categorized as expenses transfers checks or credit card payments then enter the category you want QuickBooks to apply to the transaction QuickBooks can also split transactions between multiple categories by percentage or amount the rule can also apply other info such as who you paid who it was for Tags and More you may see different options depending on the company settings you've turned on adding this info ensures you'll have accurate records and helps you to reconcile and run reports if you turn on autoc confirm QuickBooks applies the rule to any downloaded transaction it applies to and confirms it immediately remember to use this with caution because if you leave it on you won't get a chance to review trans transactions before QuickBooks adds them to your books select save to create your rule if you need to change a rule select edit select the action drop-down arrow and you can copy disable or delete a rule disabling the rule stops it from applying to transactions temporarily until you reenable it delete a rule to permanently remove it QuickBooks applies rules to transactions in the order they are in the rules Center because QuickBooks can only apply one rule per transaction change the priority of your rules by selecting and dragging the grid you can also export rules to use in a different company or import rules from another company go back to transactions whenever QuickBooks downloads a transaction you can see if QuickBooks applied to rule to it select the categorize Tab and you can see the transactions you and books have confirmed you'll see autoc confirm next to any transaction that QuickBooks automatically confirmed with a rule now you're ready to use Bank rules to categorize and confirm your transactions in the banking center

Channel: Intuit QuickBooks

Views: 34,683

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Id: eXtDIOh-ru4

Length: 4min 24sec (264 seconds)

Published: Mon Oct 23 2023