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 docid\ ky uczhtyggbjlri v wj summary name enter a name for the rule rule type 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 money direction will determine if the rule is applied to transactions that cause an increase in the balance or decrease in it description 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 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 any text field 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 apply across entities 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 select a singe bank account for which the rule applies 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 create transaction define the transaction created from the rule when it is processed transaction type 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 account number & related transaction fields 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 transaction description enter a description for the transaction overwrite description overwrite the downloaded description with the description listed above