A coding rule will automatically allocate codes, tags and a description to a transaction or invoice.
They are ideal for bank transactions that repeat regularly and that don't have a corresponding invoice to match.
TIP: If you do record invoices why not use the Invoice Scanner to automatically import invoices into Focus?
Transaction coding rules
There are three parts to a transaction coding rule:
A coding rule can be applied if it recognises certain text or characters in the bank transaction. It can include one or all of the following criteria where:
- The Other Party contains...
- The Reference contains...
- Particulars contain...
- The Amount is equal to...
- The Bank account is...
They can then be automatically coded based on the action that has been set in the coding rule.
The action determines what the transaction is coded to and the $ value or percentage that applies.
You can choose when the coding rule is applied by selecting to:
- Review each time
Open each transaction individually from Needs Action to apply the coding rule
- Run from Needs Action
Apply the coding rule across all relevant transactions in Needs Action