Setting up Rules in Quickbooks Online

For any bank accounts or credit cards in which you’re entering transactional data, you’ll probably use the Banking Feed in order to increase accuracy and efficiency. Let’s assume you’re already making use of that. You’ll often have hundreds if not thousands of transactional data to categorize, and so making use of Rules in QBO (or desktop for that matter), will save you even more time.

In the example above, I found this particular transaction in my banking feed under Chase Credit Card. I have a rule setup to categorize expenses to this particular account that come from So Cal Gas as Utilities. Now, all I’ll have to do is click “Add” to add it to the register for that particular account. In order to setup rules, go to the Banking Feed, then in the top left click on Rules. Then click on New Rule.

Simply name your rule, let quickbooks know if you want it to apply to money out (expenses) or money in (income), and to which account the rule should apply, which in this case is the Chase Credit Card account. Double check that the field that says “description contains” would contain words as seen in the imported bank feed transactional data memo; but also be sure to not include any unique data such as a date, or else QBO will not apply the rule unless the memo imported has that specific information. At the bottom you can even select whether or not you want QBO to accept those transactions to the register automatically, although it was cut off in the image below. I typically like to use this opportunity as a chance to see each piece of line data, so I don’t use that feature.

Now save your rule and go to your Banking Feed. You’ll find that the rule is applied for each relevant transaction and already properly categoryzed and ready to be pushed to the register!

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