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But it\u2019s also pretty darn useful. If done incorrectly, rules can wreak havoc on your books and most certainly cause your hair to prematurely gray. Rules go beyond the automatic processing to give you a finer level of control. They scan downloaded bank items for certain criteria you specify, and then assign particular payees, categories, classes, locations, and more to them. Rules can even help automatically split items between categories and more. You can reorder your bank rules by priority.<\/p>\n<\/p>\n
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Over time, it can even scan transactions and add details like payees. At the start of this post, I mentioned that creating rules will save you time. But the process of creating rules will take you time first. Once the rule is created, however, it\u2019s smooth sailing because you don\u2019t have to think about it. Simply select all of the transactions that have rules applied, quickly review, and accept them all at once. Once you create an auto-add rule, any transactions that meet the specified conditions in the For review tab are automatically added.<\/p>\n<\/p>\n
The only catch is that you use QuickBooks Online (or QBO as those in the bookkeeping biz call it). Find out more about how features and data move to QuickBooks Online.<\/p>\n<\/p>\n