Transaction rules

Transaction rules

Transactions Rules

What is this?

Transactions can be imported directly from bank feeds, importing bank statement CSV's, from uploaded documents and/or adding transactions manually.  Once transactions are in the software you can categorise them in a few ways, either when manually adding them or when reviewing unassigned transactions. The most efficient way to assign bank transactions (feeds or CSV files) is to create transaction rules in order to automate categorisation of transactions.

Rules can be created and set to automatically categorise and allocate transactions, or rules can be set to categorise them ready for review and then manually ‘approve’ the allocation of transactions.

How do I create a transaction rule?

You can create transaction rules in the Record Keeping section. There are two ways to create transaction rules. You can create a new rule or you can create a rule for a transaction you have just manually assigned.

When categorising unassigned transactions navigate to Record Keeping and then select Unassigned Transactions you will be asked if you want to create transaction rules for the transactions being categorised. Equally from Record Keeping, select Manage transaction rules on the right of the bottom menu and you will be taken to the Rules page/dashboard where you are able to create, update, delete, activate and deactivate transaction rules.

Create a New Rule

  1. To create a new rule you can fill out the below form.

  2. Transaction type - Income or Expense

  3. Rule Name - This is whatever you wish to name the rule so you know what its for eg. Rent for business premises

  4. Tick box - You can tick to have the rule automatically assign or untick to assign but allow you to confirm manually before its applied.

  5. Field Name - This is how we want to identify the transaction, Description is how your bank describe the transaction on your statement eg. Netflix subscription, Recipient would be who the transaction is from eg. Tesco or the amount if you have a specific amount charged regularly.

  6. Condition/ Value - This is how we are going to describe the transaction identifier in the 'Value' so contains would be for this rule I always want to pick up the transaction that is listed as Tesco Petrol Station, so we would put contains and then Tesco petrol station in value or exactly could be a transaction that always contains a reference number, so you would select exactly and put the reference in value box.

  7. + Add condition - So this would be used if you needed to be more specific than just one condition for example if you had payments to Amazon some of these could be purchases be you know your also paying them your prime subscription every month you could have one condition set to Amazon and a second condition set to 'amount' 'exactly' 'value -  8.99' so that it will only assign those £8.99 transactions out of all of the Amazon ones.

  8. Action - You use this the same as assigning transactions normally by selecting the Business Source and Category that you wish transactions from this rule be assigned to.

  9. Select create and then in your rules list page just change the slider in the active column to activate it.


Creating a new rule when assigning a transaction

Once rules have been created and activated, you will see automatically allocated transactions in your Record Keeping page where you can filter, edit and download. Any transaction with rules not set to automatically assign can be reviewed by navigating from your Record Keeping page, to Your unassigned transactions and then selecting Auto-allocated.


Watch our video for a step by step guide



Need help?

If you are still unsure or need further help you can contact your accounting firm or our Digital Tax Software support team by submitting a ticket at the bottom of the page.

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