Bank Reconciliation Rules
Bank Reconciliation Rules are used to assist in creating Gravity transaction from bank and credit card feeds. Based on matching criteria Bank Riles can automatically match to downloaded activity or manually applied. See Bank Matching Screen
Enter a name for the rule
Options include:
- Automatic - rule will automatically apply to downloaded transactions if it matches. It can also be manually applied.
- Manual - rule can only be manually applied.
Will determine if the rule is applied to transactions that cause an increase in the balance or decrease in it.
Description is one of the matching criteria. This will match on the transaction description downloaded from the financial institution. Options include:
- Contains - the descriptions contains the word or phrase listed
- = - the descriptions is an exact match for the phrase listed
- Begins with - the descriptions begins with the word or phrase listed
Amount is one of the matching criteria. This will match on the transaction amount downloaded from the financial institution. Options include:
- < - the downloaded amount is less than the amount listed.
- = - the downloaded amount is equal to the amount listed.
- > - the downloaded amount is greater than the amount listed.
Allows the use of other text fields from the downloaded transaction as one of the matching criteria. This will match the selected field and text to the downloaded transaction from the financial institution. These options will be based on the individual bank fields available. Options include:
- Account ID
- Customer ID
- Description
- ID
- Subaccount
- Reconciled GUID
If set to Yes than the rule can apply to transactions in any Entity. If set to No than it only apply to the Entity where itis created.
If a Bank Account is Selected the rule will only apply to that Bank Account. If blank than it may apply to any Bank Account in the Entity or potentially across Entities.
Define the transaction created from the rule when it is processed.
Options include:
- Money Out
- Journal Entry - created a journal entry crediting the bank account and debiting the account listed and posts the Journal Entry.
- Voucher & Check - creates a voucher in accounts payable and the associated payment record and posts both.
- Check - Creates an unapplied payment record and posts it.
- Money In
- Journal Entry - created a journal entry debiting the bank account and crediting the account listed and posts the Journal Entry.
- Invoice & Cash Receipt - creates a invoice in accounts receivable and the associated cash receipt record and posts both.
- Cash Receipt - Creates an unapplied cash receipt record and posts it.
Based upon the type of transaction selected the user will be prompted for the Account Number as well as addition information like Vendor or Customer
Enter a description for the transaction.
Overwrite the downloaded description with the description listed above.