Technical Tuesday episode! QuickBooks Online is smart! It learns your spending patterns and will make suggestions to make the bank feed process more efficient. This is called creating a “rule” and It’s another layer to the onion of being more efficient in your office and laying the foundation of success. Give a listen and make your life easier. Check out the website for more content www.bcbousa.com
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Full Recap:
Technical Tuesday episode! Today we focus on a neat feature built into QuickBooks Online that makes managing your bank feeds even easier. The feature is called “Rules” and it helps identify and categorize transactions for you inside the system. It’s another layer to the onion of being more efficient in your office and laying the foundation of success.
QuickBooks Online is an extremely smart program and as you use the bank feeds it will start to identify and suggest rules to you to apply to your transactions. The example used in today’s episode is a construction company going to Home Depot. It likely happens often, and not having to go into each transaction and correctly label and categorize it can save significant time over the course of the year. Once the rule is created the transaction will filter in your bank feed with a suggestion of how to apply which you then simply hit the add button.
In addition to letting QuickBooks Online make suggestions for new rules, you also have the ability to create your own rules from scratch. Once in your banking feed at the top of the screen is a rules tab. Once in the rules tab you will see all your existing rules and a green button to add a new rule. Follow the prompts on the page to set the parameters and it is as easy as that.