This is a part of the Rule Vault feature. Click here to learn about Rule Vault.
From the Rule Vault, Transaction Rules can be created to look for specific transactions in Bank Activity. When Bank Activity is retrieved and a transaction is found that meets a set Rule's criteria, a new entry will then be created in R365 to match that transaction.
Transaction Rules can be created, updated, deactivated, or deleted at any time from the Rule Vault. Click here to learn how to edit a Rule.
Note: This feature will be phased into Customer instances over Q4 2021 – Q1 2022.
Create a Rule
After navigating to the Rule Vault, click the '+ New Rule' button in the top, right corner above the listing and then select 'Create Transaction Rule'. This will open a new 'Create Transaction Rule' sidesheet.
Enter in the necessary details as it pertains to this Transaction Rule.
1) Name - The name of the Rule. Users can enter up to 50 characters
2) Description - An optional description of the Rule. Users can enter up to 75 characters
3) Bank Accounts - The bank accounts that will be assigned to this Rule. A Rule will only be applied to activity imported into the bank accounts selected here. If a bank account is not selected, then activity imported into that account will not follow this Rule. The following modal will appear where bank accounts can be selected
4) Trx Type - The type of transaction that will be created by this Rule. Options include:
- Cash In (Deposit)
- Cash Out (Expense/Withdrawal)
5) Bank Activity Field - The field from Bank Activity that this Rule will look for when matching a transaction. Options include:
6) Function - The function used to tie the Bank Activity Field (#5) to the Value (#7). Options for this field vary depending on the Bank Activity Field selected
7) Value - The value that the Rule is trying to match to in Bank Activity. This field will vary depending on the Bank Activity Field (#5) selected
8) Add Condition - When clicked, the plus sign will display a new line where an additional condition can be entered. Conditions can also be removed by clicking the trash can icon at the end of its row
9) Vendor - An optional field where the set Value (#7) will be applied to the selected Vendor. Search for the desired Vendor from this field by typing in the Vendor name or view the listing and then select the Vendor. Ensure that this Vendor is available to all selected Locations (#10)
10) Location - The Location that will be set as the Detail Location for the transaction that is created when an activity matches this Rule. Additional Locations can be added via the Additional Details icon (#14) if the transaction amount needs to be allocated across multiple Locations
- Note: Ensure that the selected Location has access to the Vendor (if selected) and GL Account entered
11) GL Account - The GL Account that will be set on as the Detail Account for the transaction that is created when an activity matches this Rule. Additional GL Accounts can be added via the Additional Details icon (#14) if the transaction amount needs to be allocated across GL Accounts
- Note: If the desired GL Account does not appear in the listing, it does not have access to the selected Location
12) Allocation Method - The manner for how to set the transaction's Detail Allocations. This can either be entered as:
- Dollar ($)
- Percentage (%)
13) Amount - The amount out of the total that will be applied to each Location. If more than one Location is entered, ensure that all amounts entered equal 100% or the example total of $1000, depending on the Allocation Method (#12) chosen
14) Additional Details - When clicked, this will add additional detail rows in order to create a single transaction with multiple details for an activity that should be allocated across multiple Locations. Details can also be removed by clicking the trash can icon at the end of its row
15) Copy - This will copy the Rule. For a new Rule, this icon is disabled until the Rule is saved
16) Delete - This will delete the Rule. For a new Rule, this icon is disabled until the Rule is saved
17) Create - This will create the Rule. For a new Rule, this button is disabled until all required fields have an entry
18) Mark Active - This will mark this Rule as 'Active'. For a new Rule, this button is disabled until the Rule is saved. If it is saved as an Active Rule, this button will be replaced with 'Mark Inactive'. Click here to learn more about Rule Statuses
19) Close - This will close the Rule without saving
Finalizing the Rule
Once all required fields are completed, the 'Create' button will be enabled. Click 'Create' to save the Rule and add it to the Rule Vault. As long as the 'Amount' fields in the 'Resulting Bank Expense/Deposit' section equal 100% or the example total of $1000, the Rule will be marked as 'Active' when saved.
If these fields do not equal the entire amount, an alert message will appear at the bottom of the sidesheet noting the remaining amount. If saved when this alert is displayed, the Rule will be marked as 'Inactive'.