One of the most exciting features of Autobooks is our ability to link directly into your business' checking and savings accounts and pull in any transactions that hit these accounts. These transactions are pulled in on a nightly basis and then made available for you to code. This will allow you to categorize these transactions to the appropriate accounting categories so that they impact your financial reports in the proper manner.
Now if you have transactions that come in on a regular basis that are the same and need to be coded to the same accounting category each time, you can set up rules to handle this coding automatically. This saves you time of having to go in and code the same transaction week in and week out to the same accounting category!
There are multiple sections in this article for the creation and management of rules. Please make sure to review all of these before creating your first rule. If you have any questions, do not hesitate to reach out to Autobooks Support!
Rules List Page - Navigation
- The Rules List page is the base for the rule creation process, and can be accessed by navigating to Accounting > Accounts > Rules.
Important Categorization Rule Notes
- The rules you create will run one at a time starting from the first (top) rule on the Rules List page
- This means that if you've created multiple rules, you will need to order them appropriately on the Rules List page so that they're applied to the correct transactions.
- If there are multiple rules that could apply to a single transaction, the first applicable rule will be run against the transaction in question.
- This means that you will want to make sure that the rules you create are specific enough that only the correct transactions are impacted when they run.
- These rules will run automatically once per day, but you can click the [Run now] button if you want to manually kick off this process
Creating a New Rule
- This page will be blank at first, so you will want to click on the [+New rule] button to get started
- Once you're on the Add rule page, you will need to fill out the following fields:
- Rule name
- Transaction type (money coming into your account vs. money leaving your account)
- Which bank account(s) to apply this rule to
- Next, you will need to choose the conditions for this rule:
- Will it run based on any or all of the below conditions
- Transaction conditions - what this rule is looking for in your business' transactions
- An example would be if the Description of the transaction Contains the words "Home Depot"
- You can create multiple condition sets for one rule:
- Going off the above example, you could have one condition of the Description of the transaction Containing the words "Home Depot"
- You could then add a second condition for a specific dollar amount if there was one particular recurring transaction from Home Depot that was always equal to the same amount, but should be categorized differently than other purchases from Home Depot (if you had a Home Depot credit card and a standard monthly payment amount).
- In the final section of the Add rule page, you will choose the following:
- A customer or vendor to associate this transaction with (optional)
- An accounting category to categorize this transaction to
- Any notes that you would like to show on the transactions impacted by this rule
- You can also choose to exclude transactions impacted by this rule
- You could choose this option if the transaction you're setting this rule up for shouldn't impact your business' financials within Autobooks
- Finally, click the [Save] button to add this new rule