Use bank rules to automatically process transactions imported from bank feeds or bank statements.
For recurring transactions like direct debits, create bank rules to set transaction type, account, customer, or supplier details.
Why use bank rules?
You may have recurring or frequent transactions coming in from a bank feed or statement. For example, monthly payment of utility bills, rent, or deposit interest. Bank rules can automatically create these transactions instead of entering them manually.
How they work
When you create bank rules, you set the transaction type and what conditions apply to it. Read more on Creating bank rules in Sage Accounting >
First, choose how to identify the transaction coming from your bank. This could be a reference date, amount, or a combination of these. As an example, for your electricity bill, this might be the reference used by your utility company.
Choose the transaction you want to create in Sage Accounting. Then specify the ledger account and VAT rate where applicable. For your electricity bill, you might set up a payment for the 7200 Electricity ledger account, with the Lower VAT rate.
After creating rules, prioritise them so that we apply them in order. Only one rule is applied per transaction, so it's important to get the order right. Read more on managing bank rules in Sage Accounting >
Once you’ve set up bank rules, they will be automatically applied to your next batch of incoming transactions.
When a transaction matches a rule
When a transaction matches a rule, a suggestion displays asking for you to confirm the match. All you need to do is review the details and confirm that it's correct to create the transaction. If it's incorrect, you can fix it and then update your rules to catch it next time.
When you create, edit, or delete a rule, the change will automatically apply to your next batch of incoming transactions. You can also apply your changes to existing transactions.