How to Use Rules in QuickBooks Online Transactions

rules in quickbooks

An important step in accounting is bank reconciliation, which allows transactions to be checked for accuracy and recorded at the appropriate accounting period. Bank feeds allow business owners to quickly reconcile their bank and credit card transactions, leaving them more time for other business duties and responsibilities. It’s important to manage bank feeds to ensure the accuracy of your transactions. Try to ensure the financial integrity of your business.


I had a problem with bank feeds to the new account. Whatever the proper term is, for the existing accounts as the new account could not see my bank account while trying to set up bank feed for new account. Apparently QB only allows 2 accounts per company to link to the same bank account. After disassociating those accounts from their bank feeds I downloaded a few transactions for the bank account I wanted and QB requested that I set up a new account. I did, the transactions went right in and the Bank rules worked just fine.

The first 5 conditions for each rule from QuickBooks Desktop are migrated. Go to Bookkeeping, then Transactions, then select Bank transactions . Select Automatically confirm transactions this rule applies to in the Rules window.

Prioritizing multiple QuickBooks Online bank rules

It also allows you to customise many variables of the bank feed data to highly automate the bank transactions you accept into QuickBooks Online. It’s no secret QuickBooks is the best accounting software. QuickBooks Online makes accounting and financial management far more efficient for small business owners and accountants. An advanced feature of bank feeds makes recording or excluding expenses more streamlined. Finally, you’ll have to choose from two different ways of processing these matching transactions.


If everything looks good, selectAdd to move the transactions directly into an account in QuickBooks. You can also select and review it before you move it. In the Conditions fields, specify whether the rule applies to Description, Bank text, or Amount.

Bank Feeds for QuickBooks Online

At the bottom of each bank rule, there is an option to Auto-add. It’s quick and easy to edit and delete the bank rules in QuickBooks Self-Employed. Find the rule you want to modify and click Edit. Next to it is a drop-down where you can select Delete. From the In ▼ dropdown, select a bank account, or select All bank accounts. When you download transactions from your bank, you need to categorise them so they go into the right accounts.

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Hover over Banking in the left vertical pane and select Banking to open your transaction list. Be sure that you’re looking at transactions that are still For review, as these are the only ones that can be assigned to Rules. Bank rules even give you the ability to enter transactions in QBO hands-free.

Frequently Asked Questions (Faqs)

It also helps in customizing the variable of the bank feed in QuickBooks Online, which ultimately leads to the automation of the bank transactions. With the help of this article, you will know how to manage QuickBooks Online bank feeds. In this, you will know how to set up bank rules so that you can reduce the amount of time to classify transactions in the Banking Center. Connecting your bank account to QuickBooks Online allows you to access and record banking and credit card transactions in your check register feature in QuickBooks. The days of manually entering every transaction into your accounting software are over. Bank feeds allow your banking and credit card transactions to be reconciled and reported in a more efficient manner.

recurring transactions

As you all know that QuickBooks is the best accounting software. With QuickBooks Online you can make accounting and financial management easier for small business owners and accountants. An advanced feature of bank feeds streamlines the process of recording or excluding expenses. Whether or not a recurring transaction has the same amount, you can categorize it according to bank rules. By connecting your bank account to QuickBooks Online, you may access and log credit card and banking transactions in QuickBooks check register feature. You no longer need to manually enter each transaction into your accounting software.

” it includes a, such as a Cell Phone Bill. Do not add a transaction to QuickBooks if it is already recorded in QuickBooks. 5) Check the rules in QBO to confirm if all were imported properly. Is Quickbooks seriously telling us that if we upgrade to 2021 with the horrible new Advanced Mode for rules that we lose all existing rules? Whoever is designing these so called improvements obviously doesn’t use the actual product.

Most importantly, you can rearrange the rules to tell QuickBooks how to prioritize the order. Only one rule can be applied per transaction. When creating a rule, choose Money In or Money Out and applicable bank and credit card account. 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. As of this moment, marking all accounts to the multiple rules created is not possible.

The most common trigger is to run the rule based on the Description from the bank feed. You can also set rules based on the Bank text or the Amount. I wanted to see how everything is going about fixing your duplicate bank transactions.

You can create rules that automatically categorize transactions for you. The more QuickBooks uses your bank rules, the better it gets at categorizing. After a while, it can even scan transactions and add details like payees. QuickBooks Online has an added feature called Rules . It saves you time by setting up automatic categorisation of regular recurring transactions even if they are slightly different each month.

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After all, the goal is to au payroll time and energy and not create more clean-up work for later. You may decide it’s best to have a pro create the rules for you. You can create rules that automatically categorise transactions for you.

You can find a list of the bank rules you made under Banking and Rules. Once you become familiar with creating QuickBooks Online bank rules, you will want to prioritize them. Under Banking and Rules, you will see a list of the bank rules you created. Yes, you can create a new account and get the bank feeds. However, bank rules are account specific. That said, the previously created rule won’t be applied to the new account.

From theDescriptiondrop-down, make a selection and in theDescriptionfield, type a word or phrase you want to use as the condition for the rule. If you want to create more conditions, select the+button. Maintaining your transaction registers conscientiously leads to a clearer understanding of your finances. Using rules in QuickBooks Online to organize your transactions can help. Select the banking rule you want to check. Why, is QBO re-classing these transactions, and what I am missing in this process?


However, if you have a transaction that corrects a previous error, you might use the Exclude function. You can save time and money by eliminating manual entry. Both of these accounting software tools are designed for small… The amount is the numerical details of the transaction. It may be easiest to use the Amount option if you have a recurring monthly payment that does not fluctuate.

QuickBooks automatically applies your rules to transactions in the For review tab. These are the ones you need to review every day. To reorder your bank rules priority, select reorder and drag the rule to your desired order. The rule with the highest priority will always be applied first. Months of service, starting from date of enrolment. From month 4/13 from the date of enrolment, the price will change to the then current monthly price.

Browse to locate the rules you exported from your other company, and then click Next. On the Rules page, click the arrow next to New rule and select Import rules. Click the arrow next to Update and select Manage rules. Switch to the company that you want to import the rules to. On the Rules page, click the arrow next to New rule and select Export rules. Learn the eight steps in the accounting cycle process to complete…

You want QuickBooks Online to automatically categorize and clear transactions under $250; above that, and you’d want to see them individually. The last step is setting up how you want the bank rule to assign the transaction. Select the Transaction type , assign the account Category, the Payee, Tags, Class. Next, you will need to set which conditions will trigger the rule.