In Zoho Books, you can automate the categorization of the bank feeds. The transaction rules feature in banking will help you in automatically identifying the bank transaction and categorizing it under the criteria provided by you.
Creating Transaction Rules
- Click Banking on the left navigation bar.
- Select the bank account to record the manual transaction.
- Click the Gear icon on the top right corner of the page.
- Select Manage Transaction Rules.
- Click New Rule on the top right corner of the page.
- Fill in the necessary details.
- Click Save.
The transactions rules saved will be listed either as Deposits or Withdrawals.
Note: You can change the order of the transaction rules by clicking Change Order on the top right corner of the page. Alternatively, you can click on the grid icon next to the deposits or withdrawals and drag and drop it in order.
|Rule Name||Select a name for the transaction rule.|
|Apply To||Transaction rules can be applied to either Deposits or Withdrawals.|
|Transactions Matching||Select All of the following to include all the criteria given by you or Any of the following to include any one of the criteria given by you.|
|Record As||Select the way in which the transaction rule is being recorded.|
|Account||Select an account for the transaction rule.|
|Reference Number||Enter a reference number for your transaction rule.|
Now you can enter the criteria for which you are looking to categorize transactions.
For both deposits and withdrawals, you can select from,
For types such as Payee, Description, Reference Number, the matching criteria will be given in the next box as is, contains, starts with, is empty.
|Is||The payee name, description or the reference number should be exactly matching with the same name as what is given in the criteria to the transaction.|
|contains||The payee name, description or the reference number can contain any part of the criteria in the transaction.|
|starts with||The payee name, description or the reference number in the transaction should start with the entry given in the criteria.|
|is empty||The payee name, description or the reference number should be empty.|
For the Amount type, the matching criteria will be,
= : Equal to
> : Greater than
>= : Greater than (or) equal
< : Lesser than <= : Lesser than (or) equal
The third box should be entered with the details you wish to provide for the transaction to be categorized.
|Record As||For Deposits
On selecting the Apply To option as Deposits, you can record your transactions as per the options given under Record As drop down.
On selecting the Apply To option as Withdrawals, you can record your transactions as per the options given under Record As drop down.
|Account||The account in which the transactions needs to be routed. The accounts shown in the Account drop down will depend on two selections,
- Apply To option.
- Record As option.
|Reference Number||Select the Use Value from Bank Statement to automatically detect the reference number. If you wish to manually enter the reference numbers, select Enter Manually.|