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  • Product: Accounting CS Client Access

Bank feed rules examples

Use bank feed rules to make the application assign a specific value to the reference, description, type, vendor, 1099 item, or GL account for retrieved transactions that meet the criteria you define.

Example 1 - Rules based on transaction amounts

Your client purchases gas and miscellaneous items from a nearby convenience store (Fuel Mart) regularly. In most cases, the transactions over $30 are for fuel, and those that are $30 or less are for miscellaneous items. The transaction description from the bank feed contains
FUELMART
.
You can set up 2 rules with amount conditions to help you sort out the different types of purchases.
Fuel
  1. Name the rule
    Fuel
    .
  2. Set up a condition to locate all transactions that contain the words
    FUELMART
     and select
    And
     to add another condition.
  3. Add a condition to locate all tractions with amounts that are greater than
    $30.00
    .
  4. Set up an action to enter
    Fuel Mart
     for the vendor, and select
    And
     to add another action.
  5. Add an action to enter
    Debit
     for the reference, and select
    And
    .
  6. Add an action to enter
    Fuel Mart fuel
     for the description, and select
    And
    .
  7. Add an action to enter
    606
     (Auto gas) for the GL account.
  8. Select Enter to save the rule.
Miscellaneous Items
  1. Name the rule
    Misc
    .
  2. Set up a condition to locate all transactions that contain the words
    FUELMART
     and select
    And
     to add another condition.
  3. Add a condition to locate all transactions with amounts that are less than or equal to
    $30.00
    .
  4. Set up an action to enter
    Fuel Mart
     for the vendor and select
    And
     to add another action.
  5. Add an action to enter
    Debit
     for the reference, and select
    And
    .
  6. Add an action to enter
    Fuel Mart Misc Items
     for the description, and select
    And
    .
  7. Add an action to enter
    745
     (Miscellaneous) for the GL account.
  8. Select
    Enter
     to save the rule.

Example 2 - Rule based on creating 1099 transactions

Your client uses their corporate credit card to pay Parkin's Lawn Care automatically on a monthly basis. Parkin's Lawn Care offers a service and is not incorporated, so you send them a 1099-Misc form at the end of the year. Because you'll be tracking this payment, you can save time by creating a rule that assigns the transaction to a 1099. The transaction description from the bank feed contains
PARLWN
.
  1. Name the rule
    Lawn
    .
  2. Set up a condition to locate all transactions that contain the word
    PARLWN
    .
  3. Set up an action to enter
    Parkins Lawn Care
     for the vendor, and select
    And
     to add another action.
  4. Add an action to enter
    1099-MISC (3)
     for the 1099 form type, and select
    And
    .
  5. Add an action to enter
    CorpCC
     for the reference, and select
    And
    .
  6. Add an action to enter
    Payment
     for Type of payment, and select
    And
    .
  7. Add an action to enter
    Monthly lawn care
     for the description, and select
    And
    .
  8. Add an action to enter
    542
     (Repairs and maintenance) for the GL account.
  9. Select
    Enter
     to save the rule.