In this four-part series, I’m reviewing some of my favorite tips for working with bank and credit card feeds in QuickBooks® Online. This article is part two in the series. If you missed part one, find it here.
After connecting your bank and credit card accounts, bank rules help you control, customize and automate how QuickBooks categorizes transactions if a match is not found. You’ll save time on data entry. Here are five tips for creating Bank Rules in QuickBooks Online. In future articles, I’ll share my advice for adding or matching transactions.
Tip #1: Explore Your Conditions
Establishing conditions that work best for your transactions can take some planning, but will pay off in the end. Think about how you’d like QuickBooks to automate transaction entry and create your rules to fit your goals.
When creating a rule, choose Money In or Money Out and applicable bank and credit card account(s).
You can choose to structure your rule around ANY or ALL conditions and utilize the Bank Text, Description and/or Amount. You can create a rule based on a single condition or combine up to 5 conditions in a single rule.
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