Bank Rules are a key feature in helping business owners to streamline bank reconciliations in Xero.
They allow users to automate the bank reconciliation process, saving time and ensuring regular transactions are coded consistently.
Using Rules, Xero matches transactions to criteria users have set, such as payee name and will apply codes, tax treatment and tracking according to the pre-set rule.
Matched transactions appear in the bank reconciliation screen, allowing users to simply click ‘OK’ to reconcile the transaction.
This function is ideal for regular transactions which have a common identifier, like payee name.
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