Transaction Rules
Using Transaction Rules, you can automate the categorization of the bank feeds. Transaction rules in the banking module will help you to identify and categorize bank transactions based on criteria you’ve set.
Add a New Transaction Rule
To create a new transaction rule:
- Go to Banking and select a bank account for which you wish to automate the categorization.
- Click the Settings icon and select Manage Transaction Rules.
- Select the New Rule option given on top of the transaction window.
- Enter a name for the transaction rule.
- Choose whether the transaction rule is for Deposits or Withdrawals.
- Select All of the following to include all the criteria given by you.
- Select any of the following to include any one of the criteria given by you.
Now you can enter the criteria for which you are looking to categorize transactions. For both deposits and withdrawals, you can select from,
| Fields | Descriptions |
|---|---|
| Payee | The name of the person or organization with whom the transaction would happen. This should match with the name that appears in the feeds. |
| Description | Description can be a note or info about the transaction that is to be recorded. |
| Reference Number | The number with which a transaction is referred. It can either be an automatically generated sequence or manually recorded. |
| Amount | The amount you wish to have in the transaction. |
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.
| Options | Description |
|---|---|
| Is | The payee name, description or the reference number should be exactly matched 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
| Fields | Description |
|---|---|
| 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. For Withdrawals: 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 need to be routed. |
| Paid Via | You can select the payment mode from the drop down. |
| 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. |
- Click Save.
Edit a Transaction Rule
To edit a transaction rule,
- Go to the Banking module in the left sidebar.
- Click the Settings icon and select Manage Transaction Rules.
- Click a transaction rule and make the necessary changes.
- Click Save.
Delete a Transaction Rule
To delete a transaction rule,
- Go to the Banking module in the left sidebar.
- Click the Settings icon and select Manage Transaction Rules.
- Hover over to the transanction rule and click the Trash icon.
Warning: Once deleted, the rule details will be removed from Zoho Books permanently and cannot be retrieved. However, the transactions that were categorized based on the transaction rule will not be affected.
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