Understanding bank rules

Bank rules are a list of conditions that must be met in order for QuickBooks to automatically assign a payee, account (category), class, and location to upload banking transactions to. Bank rules will apply only to bank or credit card transactions in the For review tab of the Banking Center. Since most businesses have the same transactions that take place month after month, using bank rules can save you the time you would have spent reviewing transactions in the Banking Center before they can be recorded in QuickBooks.

Follow these steps to create a bank rule:

1. Click on Transactions from the left menu and select Rules, as indicated in Figure 9.11:

Figure 9.11: Navigating to bank rules

2. Click on the New rule button, as indicated in Figure 9.12:

Figure 9.12: Creating a new bank rule

3. The following screen will appear:

Figure 9.13: Completing the fields required to create a new bank rule...