Xero Tips: Bank Rules

Bank Rules are a quick and easy way to reconcile your bank transactions in Xero.

Bank Rules are a quick and easy way to reconcile your bank transactions in Xero. They are especially handy for those contacts that are used regularly (i.e. Trustpower, Spark etc), also they are a useful way of minimizing the mis-coding of regular transactions.

A Bank Rule allows you to define the conditions for each transaction, using details you’ve pre-set. Xero will then automatically match the transaction to the rule, the transaction will appear green in your reconciliation screen and if all is correct, all you have to do is click OK for the transaction to be reconciled.

One of the easiest ways to create a bank rule is to go to your bank reconciliation screen, find a transaction you wish to create a rule for and click on “create rule”.

bank rules

Create or edit the conditions for your rule, remembering to include the account code. Click save.

Once you have set up the rule, it will run automatically each time you go to the bank reconciliation screen.  Any transactions that match a rule will show as green.

If you have any problems setting up your bank rules, the “help” menu in Xero is very useful – you will find this in the top right hand corner of your screen, or alternatively, please contact us here at WK.

Author: Julie Warburton