In our previous blog, Understanding Bank Rules in Sage Intacct, we introduced how bank rules can help automate transaction processing and streamline the bank reconciliation process.
Now, we'll take a closer look at how to set up creation rules that support consistent, accurate transaction coding, while being specific enough to identify the correct transaction without including unrelated bank activity.
When setting up a creation rule, include the transaction type as a filter. This identifies whether the rule should evaluate debit or credit activity.
Descriptions can provide another useful filter. If the full bank description may include additional text or spacing, consider using Contains instead of Equals. Description filters are case-sensitive, so the filter should reflect the description received from the bank.
Users should also add a posting-date filter to establish when the rule should begin. Without a start date, a creation rule may evaluate older activity and create duplicate transactions.
Rule order matters. Place the most specific or complex rules, sometimes called “sniper rules,” first. Broader rules should appear later.
For example, a rule based only on an amount may be too general. If several transactions have the same amount during the month, Intacct may not know which transaction to select. This can prevent a match or result in an incorrect match.
Whenever possible, combine multiple criteria, such as:
Bank fee transaction rules help automate the identification and categorization of recurring bank charges. To create an effective bank fee rule, set the transaction type to debit, use a description filter containing the bank’s unique fee language, and apply a posting-date condition that begins on the appropriate effective date. These filters help ensure that only relevant bank fee transactions are captured and processed consistently.
Refund and credit transaction rules can simplify the handling of returned payments, account adjustments, and other incoming credits. Build these rules using the applicable transaction type, identifiable transaction details in the description or memo field, and a posting-date filter. Using specific identifying information reduces the risk of incorrectly matching unrelated deposits or credits.
COBRA premium transaction rules support accurate tracking of employee benefit premium payments. A typical COBRA premium rule should identify credit transactions, include descriptive text unique to the premium payment, and use a posting-date filter beginning on the date the rule should take effect. Clear, specific criteria help distinguish COBRA premium activity from other deposits.
Credit card fee transaction rules make it easier to consistently classify card processing fees, annual fees, finance charges, and similar expenses. Include the appropriate transaction type, a unique transaction description, and a posting-date filter when creating the rule. These criteria help improve accuracy and reduce manual review of recurring credit card fee transactions.
Recurring online payment transaction rules can streamline the processing of regular vendor payments and subscription charges. Create a separate rule for each recurring payment by using a description that is unique to the specific vendor or transaction. Avoid overly broad descriptions, as they may cause the rule to create or categorize transactions that are unrelated to the intended payment activity.
Testing helps confirm that a creation rule works correctly before it is used as part of the regular reconciliation process.
Always set the transaction template to Draft while testing. This helps prevent test transactions from posting accidentally. It also makes them easier to find and delete if the rule creates an unexpected transaction.
Consider disabling approvals on the transaction being created during testing. Users should also confirm that the transaction template includes all required dimensions.
If the selected general ledger account does not allow direct posting, or if a required dimension is missing, the rule may not work as expected.
Test all types of bank activity that the rule could evaluate. This includes confirming that the rule:
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