In Zoho Books, you can automate the categorisation of the bank feeds. The transaction rules feature in banking will help you in automatically identifying the bank transaction and categorising it under the criteria provided by you.
- Navigate to Banking and select a bank account in which you wish to automate the categorisation.
- Click on the Settings icon and select Manage Transaction Rules.
On selecting the transaction rules option, you will be navigated to the transaction rules page where you can add a new rule or edit a rule already created.
- Select the New Rule option given on top of the transaction window.
- From the new rule form, start setting the criteria for the transaction to be categorised.
|Rule Name||Give a name for the rule you will be creating for transactions to be categorised.|
|Apply To||Select the type of transaction you will be applying this rule for either to 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 categorise transactions.
For both deposits and withdrawals, you can select from,
|Payee||The name of the person or organisation 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.
|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 categorised.
|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.|