Bank Rules often times do not match properly due to the following reasons:
- The Conditions are too strict
- The Bank Rule's details do not match correctly
- An updated Bank Rule did not save
1) Conditions are too Strict
The Conditions on a Bank Rule help to pinpoint the transactions that should be matched for an account. When a Condition is too strict, it limits the amount of transactions that are matched.
The first Condition should always start more general and be more specific for the second Condition. In the screenshot above, the first Condition 'Name Equals' limits the matching of additional transactions because the name would always need to only display 'CABLE' to match correctly.
Since it is recommended to be more general with the first Condition, choose either 'Contains' or 'Starts With'. In the screenshot above, selecting 'Name Contains' allows all transaction names with the value 'CABLE' to be included in the initial acceptance criteria.
The second Condition helps to specify even further about the transaction, as shown by 'Name Contains' and a numeric value. It is not recommended to use numeric values for the value of your condition; however, in this case, this numeric value will always contain those 5 digits for this type of transaction, allowing the 'Name Contains' Condition to function correctly.
If you find one or both of your Conditions are too strict, review the differences between your current Bank Rule and the unmatched transaction to see how you can adjust the Bank Rule to account for it.
2) The Bank Rule's details do not match correctly
As recommended above, using more general Conditions can ensure that transactions match accordingly. Therefore, ensure that the Name/Comment fields are identical to the Bank Rule. The screenshot below displays four common errors that occur for Bank Rules.
1) Incorrect Condition. The name does not equal the Second Value. Adjust the Second Condition to 'Name Contains' for transactions to match correctly.
2) Incorrect Numbering. The name of the transaction contains the wrong numbers. Edit the name to show the correct numbers or remove the numbers to account for similar transactions.
3) Incorrect Formatting. The name of the transaction does not include a hyphen in the Bank Rule, causing this transaction to remain 'unmatched'. Ensure that the formatting is the same for transactions to match correctly.
3) An updated Bank Rule did not save
When updating Bank Rules, ensure that you click the 'Save Changes' button just above the right-hand corner of the Bank Rules box. Exiting this screen without clicking this button will remove the changes made.