Business Technology

How to create Bank Rules in QuickBooks Online?

QuickBooks Rules save your valuable time by setting up the automatic categorization of the regular recurring transaction, and it allows you to customize the banking transaction which you accepted into QuickBooks Online. You can start performing bookkeeping tasks in an automated way, once you know the process of creating QuickBooks rules. You will come to know the procedure of how to create Bank Rules in QuickBooks Online. Bank rules will assign particular categories and payees for them after search about the downloaded transaction from credit card accounts and banks. And for particularly business, creating rules is very important as well as time-saving. And for detailed information about this topic go through the QuickBooks Support. Lets, move on with the process of creating rules in QuickBooks Online.

How to create rules in QuickBooks

To create bank rules in QuickBooks Online, follow these steps-

  • At starting, you need to go for banking then rules from the left menu.
  • After that, choose a new rule for opening the rule window.
  • Afterwards, in the rule name field, you have to add a name.
  • From the dropdown, select money in and money out.
  • Then, you need to choose a credit card or bank account.
  • Set the rules & conditions after that.
  • Create rules with or option, if you want that transaction get edited when they meet any of the outlined conditions.
  • After identifying the content that the transactions contain, does not comprise, or just for the rule to apply. You have to specify whether the rule applies to bank text, amount, or description in the condition field.
  • Select the settings for the rule and specify the payee, transaction type, and the category to apply.
  • For removing a condition, select the trash bin icon. 
  • And then, finally, click the save option
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Add to My Books Options automatically

In the books from the Banking page, targeted rules are automatically created and specific transactions are automatically accepted.

  1. Select the ‘automatically add to my books’ option on the rules windows, if you want to turn this option ON, and then select on the option to save.
  2. Any transactions of yours on the ‘For Review’ tab will be added automatically, after creating an Auto-add rule.

When you have to perform the following tasks, you can auto-add rules run:

  • Login
  • Create or Modify a new auto-add rule
  • Upload file

Identify Transactions

The identified tab of the bank and credit card screen will show an indicator for the transactions that are identified by the system, after setting up the bank rule. You can add directly if required from the identified tab or choose the transaction for editing it before adding it.

Importing of Bank Rules

You can now save time through exporting these rules and after that importing them to current organization file if in case you have set up the banking rules on other QuickBooks Online organization file.

For importing the bank rule, follow these process-

  • Firstly, you need to log in to the company y file you wish to export the bank rules from.
  • Then select banking then rules option from the left menu.
  • After that, select the new rule drop-down and after that select export rules.
  • Save the export file in your excel.
  • You have to change the company in which you want to import the bank rules.
  • From the left menu, choose banking then rules.
  • You have to select the new rule drop-down and then select import rules.
  • Select browse and locate to and then you need to upload the excel file you had exported.
  • And at last, select the rules and details that you want to import and follow the prompts for completing the import.
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In one line, the above-mentioned steps have given you an exact knowledge about creating bank rules in QuickBooks Online.

Conclusion:

In categorizing the regular recurring transactions, overall, banking rules saves a lot of time. And what the QuickBooks rules are and how to create up bank rules in QuickBooks Online, I think this blog explained well. Your bank transactions and handle your banking effectively can correctly categorize by QuickBooks Rules. Te feature of online banking feeds is very easy to use. It remembers the change we have made for a definite customer or supplier. And if in any case, you want to know more about the rules of Quickbooks, call on QuickBooks Customer Support Phone Number.