Quick Answer: What Is A Rule In QuickBooks?

What can bank rules be used for in QuickBooks?

After connecting your bank and credit card accounts, bank rules help you control, customize and automate how QuickBooks categorizes transactions if a match is not found.

You’ll save time on data entry..

How do I manage rules in QuickBooks desktop?

From Banking menu, Bank Feeds > Bank Feeds Center. Select Rules in Bank Feeds window. In the Rules List window, select Manage Rules drop-down then choose Add New. In Add Rules Details window, provide a Rule Name.

How do you correct reconciliation discrepancies?

Run a Reconciliation Discrepancy reportGo to the Reports menu. Hover over Banking and select Reconciliation Discrepancy.Select the account you’re reconciling and then select OK.Review the report. Look for any discrepancies.Talk with the person who made the change. There may be a reason they made the change.

Can a customer payment be a recurring transaction in QuickBooks?

In QuickBooks Online, you can create templates for recurring transactions, like recurring expenses. You can do this for any transaction except bill payments, customer payments, and time activities. In this article, we’ll show you how to set up and make the most of recurring templates.

What does rule mean in QuickBooks?

QuickBooks Online has an added feature called Rules (or Bank Rules). It saves you time by setting up automatic categorisation of regular recurring transactions even if they are slightly different each month.

How do I create a rule in QuickBooks?

Select Settings ⚙ and then Rules. Select Create Rule. In the Description field, enter the customer or vendor you want to create the rule for. Select to check the Match exactly checkbox if you want QuickBooks to only use the rule when transactions match exactly.