Understanding bank rules

Bank rules are a list of conditions that must be met in order for QuickBooks to automatically assign a payee, account (category), class, and a location to download banking transactions to. Bank rules will apply only to bank or credit card transactions in the For Review tab of the Banking Center. Since most businesses have the same transactions that take place month after month, using bank rules can save you time you would have spent reviewing transactions in the Banking Center before they can be recorded in QuickBooks.

Follow these steps to create a bank rule:

1. Click on Transactions and select Banking, as indicated in the following screenshot:

2. Click on the Rules tab, as indicated in the following screenshot:

3. Click on the New rule button, as indicated in the following screenshot:

4. The following screen will be displayed:

The following is a brief explanation of the fields to complete for a new bank rule: 

• What do you want to...