Create Transaction Rule Record

‘Create Transaction Rules’ are opened from the Rule Vault page and contain the settings and conditions that need to be met in order to be applied to bank activity. When all conditions are met, ‘Create Transaction Rules’ create new bank transactions — either bank deposits or bank expenses.

Security

The following permissions associated with bank rules:

Banking → Bank Activity → Bank Rules → View Bank Rules
Banking → Bank Activity → Bank Rules → Edit Bank Rules
Banking → Bank Activity → Bank Rules → Create Bank Rules
Banking → Bank Activity → Bank Rules → Delete Bank Rules
Banking → Bank Activity → Bank Rules → Activate Bank Rules

These permissions can be added to custom user roles or individual users. The Permission Access report can be used to determine which user roles or users already have these permissions assigned. For more information, see User Setup and Security.

Navigation

To navigate to an existing Create Transaction Rule, follow these steps:

Navigate to the bank activity page.
In the top ribbon, click Rule Vault.
Click the desired row.

To create a new ‘Create Transaction Rule’ , follow these steps:

Navigate to the bank activity page.
In the top ribbon, click Rule Vault.
To open a new ‘Create Transaction Rule’ , click New Rule .
Click Create Transaction Rule.

Create Transaction Rule Record Buttons and Fields

	Button/Field	Description
1	Copy button	Duplicates the current rule and opens it. This button is disabled for new rules until the rule is saved.
2	Delete button	Deletes the current rule. This button is disabled for new rules until the rule is saved.
3	Create	Creates the ‘Create Transaction Rule’ and defaults it to active. This button is replaced with a save button for existing rules. This button is disabled for new rules until all required fields have been completed.
4	Mark Inactive	Marks the current rule as inactive. This button is replaced with a mark active button inactive rules. Learn more about rule Statuses. This button is disabled for new rules until the rule is saved.
5	Expand/Collapse	Expands the side sheet to full screen or collapses the sidesheet from full screen.
6	Close	Closes the rule without saving
7	Name	The name of the matching rule. Up to 50 characters can be entered.
8	Description	An optional description of the rule. Users can enter up to 75 characters
Bank Account Assignment
9	Bank Accounts	The bank accounts that will be assigned to this rule. A rule will only be applied to activity imported into the bank accounts selected here. If a bank account is not selected, then activity imported into that account will not follow this rule. Bank accounts can be assigned by account number, legal entity, or bank. Best Practice Transaction rules can apply to one or multiple bank accounts. However, because the detail location for transactions is set per rule, organizations with separate bank accounts per location should considering creating separate rules to ensure transactions are recorded accurately.
Conditions
10	Transaction Type	The type of transaction the rule can be applied to. Options include: Cash In (Deposit) Cash Out (Expense/Withdrawal)
11	Bank Activity Type	The field from bank activity that the current rule will look to when matching a transaction. The bank activity type selected determines the function (#12) and rule value (#13) options available. Options include: Date When selected, the function options are: Equal to Not Equal to Greater than Less than Greater than or Equal to Less than or equal to ‘Greater than’ is used as after and ‘less than’ is used as before. When selected, the rule value field accepts dates in the MM/DD/YYYY format. Amount When selected, the function options are: Equal to Not Equal to Greater than Less than Greater than or Equal to Less than or equal to When selected, the rule value field accepts numbers only. Name When selected, the function options are: Equal to: Requires an exact match between the rule value entered and the bank activity name in order for the rule to be applied. Contains: Requires the rule value to be present somewhere in the bank activity name in order for the rule to be applied. Starts with: Requires the bank activity name to start with the rule value in order for the rule to be applied. When selected, the rule value field accepts letters, numbers, and special characters. Comment When selected, the function options are: Equal to: Requires an exact match between the rule value entered and the bank activity name in order for the rule to be applied. Contains: Requires the rule value to be present somewhere in the bank activity name in order for the rule to be applied. Starts with: Requires the bank activity name to start with the rule value in order for the rule to be applied. When selected, the rule value field accepts letters, numbers, and special characters.
12	Function	The function or parameter used to tie the bank activity field (#11) to the value (#13). Options for this field vary depending on the bank activity field selected.
13	Rule Value	The user entered value the rule is trying to match to in bank activity. This field will vary depending on the bank activity field (#11) selected.
14	Delete button	Deletes the condition in the row.
15	+	When selected, a new roll will be displayed where an additional condition can be entered.
Resulting Bank Deposit/Expense
16	Vendor	Indicates the vendor that will be associated with created transactions. When blank, no vendor is associated with the created transaction. This field is optional.
17	Location	The location that will be set as the detail location for the transaction that is created. Additional locations can be added via the additional details icon (#20) if the transaction amount needs to be allocated across multiple locations. Ensure that the selected location has access to the vendor (if selected) and GL account entered.
18	GL Account	The GL account that will be set on as the detail Account for the transaction that is created. Additional GL accounts can be added via the additional details icon (#20) if the transaction amount needs to be allocated across multiple GL accounts. If the desired GL account does not appear in the listing, the selected location does not have access to it.
19	Percentage	The percentage that should be allocated to the location and GL account in the row.
20	+	When selected, this will add additional detail row where users can allocate percentages to other locations or GL accounts. Detail lines can be removed by clicking the trash can icon at the end of the row.