Speed up your bank reconciliation – setting up Bank Rules in Xero
Sometimes there are regular bank transactions on your statements that you can let bank rules take care of for you, for example, Bank Charges or a regular HP repayment.
The easiest way to set these up is from within the bank reconciliation screen:
1. Click Create rule on the statement line you want to create a bank rule for:
2. In the Create Rule screen enter the conditions to build the rule.
For more details please follow the help guide:
https://help.xero.com/uk/BankAccounts_Details_BankRules
Bank Rules – how they work
- With bank rules you define the conditions for each rule to match with your imported statement lines
- After you import a bank statement and go to reconcile your account, your rules automatically run
- For each bank statement line that matches a rule, Xero suggests a transaction using the conditions you've set
- If the transaction that Xero suggests based on the rule is not quite right, you can edit it, create a new one, or find a transaction you've already entered into Xero to match with your statement line
No Advice
The content produced and presented by Streets is for general guidance and informational purposes only. It should not be construed as legal, tax, investment, financial or other advice. Furthermore, it should not be considered a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The information provided by Streets is of a general nature and is not specific for any individual or entity. Appropriate and tailored advice or independent research should be obtained before making any such decisions. Streets does not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of obtaining Streets' visual or audible content.
Information
The content used by Streets has been obtained from or is based on sources that we believe to be accurate and reliable. Although reasonable care has been taken in gathering the necessary information, we cannot guarantee the accuracy or completeness of any information we publish and we accept no liability for any errors or omissions in material. You should always seek specific advice prior to making any investment, legal or tax decisions.
Share this article