Banking Rules

Accounting 🡪 Settings → Banking Rules 

The banking rules configuration in the accounting module system allows users to manage rules that automate banking transactions. 

Users can create, update, delete, and view banking rules to ensure accurate and efficient transaction handling.

To access banking rules navigate; Accounting → Configurations → Banking Rule.

Upon accessing the banking rules configuration:

1. A list of all existing banking rules will be displayed.

2. Each rule will show Name of the Rule, Associated Transactions and action to update or delete.

To create a new banking rule:

1. Click on the “Add” button.

2. Fill in the required details:

   1. Name: Enter a unique name for the rule.

Create Rule(s):

2. Select “Apply this to transactions” that are “money out” or “money in”:

   1. Choose whether the rule applies to outgoing (money out) or incoming (money in) transactions.

   2. Example: Select “money out” for expenses like rent or utility payments.

3. Include the following “any” or “all”:

   1. Specify if the rule should apply when any or all conditions are met.

   2. Example: Choose “all” to ensure all specified conditions are satisfied.

4. Conditions:

   1. Define the conditions for the rule based on the transaction description or amount.

   2. In case of “description”, following operators can be used:

      1. Contains

      2. Does Not contain

      3. Exactly equal to

   3. In case of “Amount:, following operators can be used:

      1. Does not equal to

      2. Equals to

      3. Is greater than 

      4. Is less than 

   4. Enter the specific text or amount related to the condition.

      1. Example: “Rent” is exactly “1500.”

   5. Users can define multiple conditions by clicking the “Add Condition” button.

   6. Then Clause, Select “assign” or “exclude”:

      1. Decide whether to assign the transaction to a specific category or exclude it from certain processes.

         1. Example: Select “assign” to categorise the transaction under “Rent Expense.”

   7. Select payment account:

      1. Choose the payment account to which this rule applies.

         1. Example: Select “Business Checking Account.”

   8. Select deposit to:

      1. Choose the account where the transaction should be deposited if it’s money in.

         1. Example: For incoming transactions, select “Revenue Account.”

   9. Automatically confirm transactions this rule applies to (Yes or No): Decide if transactions meeting the rule criteria should be automatically confirmed.

      1. Example: Select “Yes” for routine payments that don’t require manual review.

   10. Click “Save” to create the rule.

Figure 1 Banking Rules