The best source of information you can use to create a transaction coding rule is gathered from the bank transaction itself.
Once a rule has been created, Cash Manager Focus searches for and recognises text in your transaction that matches a coding rule, and automatically codes it for you.
In a coding rule you can combine text from multiple criteria as below:
- Other party
- Bank account
Tom and Beth pay a monthly rental to their Trust. There are also irregular payments for other items throughout the year that are paid to and from the Trust.
So that the correct code is allocated to the monthly rental payments, they create a transaction coding rule, as follows, using two of the four available criteria.
- where the Other Party contains My Trust and,
- where the Reference (from the bank transaction) contains Rent
Because Tom and Beth have created a rule with two criteria, only bank transactions that contain the other party My Trust and the reference Rent will be automatically coded to the category code Rent (RT).
To create a rule
- Click on Settings from the main menu and then Codes.
- Click on Transaction coding rules.
- Select Add new rule.
Set the criteria and action
Set the first criteria as shown below (1). To add an additional criteria, click on Add Criteria.
Additional criteria will appear in the list as below (2).
Use the Action to determine whether:
- The full transaction amount is allocated to a category and extended code or,
- if it is split between multiple codes or,
- if there is a percentage split of the transaction amount i.e. a split between business GST and personal use.
Once you have created the coding rule, click Save.