The PaymentRule-Edit form allows you to create a new payment rule or edit an existing one. Payment rules automate the categorization of imported bank transactions, saving you time and ensuring consistency in your accounting records.
This guide explains how to use the PaymentRule-Edit form and describes each of the fields and options available.
When editing or creating a payment rule, the form contains several fields that determine how the rule will apply to imported bank transactions.
Use this field to specify the bank account to which this payment rule applies. If you want the rule to apply to a specific bank account, select it from the list. If you leave this field empty, the payment rule will match transactions from any bank account.
This field allows you to match the payment rule to a specific amount. From the drop-down list, you can select:
Imported bank transactions often include a description provided by your bank. Enter one or more keywords from the transaction description to match this payment rule. The rule will apply to transactions whose descriptions contain the specified keywords.
Select the type of Payee to whom this payment rule should be allocated. This could be a supplier, customer, or other entity, depending on how you categorize payments in your accounting system.
In the Lines section, you specify how the payment should be categorized in your accounts. You can assign the entire payment to a single account or use the Add Line button to split the payment across multiple accounts. This is useful when a single transaction relates to multiple expense categories.
Each line in the Lines section contains several columns:
Select the Item (e.g., inventory item or service) to which this payment rule should be associated.
Select the Account in your chart of accounts to which this payment rule should be categorized.
Enter a line description. This is useful when splitting the payment across multiple lines, allowing you to define a unique description for each line. Note that this column is visible only if you have checked the Column - Description option (see below).
Enter the quantity. This is relevant when the payment rule involves the purchase of inventory items and allows you to specify the number of units. This column is visible only if you have checked the Column - Qty option.
Specify the Amount type for each line. This column is visible only if you have a multi-line payment rule. On each line, you can select:
If you mix Exact Amount and Percentage options across different lines, the percentages will apply to the remainder after the exact amounts have been deducted from the total transaction amount.
Select the appropriate Tax Code for this line. This column is visible only if you are using tax codes in your accounting system.
Select the Division to which this line should be allocated. This column is visible only if you are using divisions.
Below the Lines section, there are options to control which columns are displayed:
Check this option if you'd like to show the Description column in the Lines section. This allows you to add a description to each line item.
Check this option if you'd like to show the Qty column in the Lines section. This is useful for specifying quantities when dealing with inventory items.
After configuring all the necessary fields and options, click Create or Update to save the payment rule. The rule will then be applied automatically to imported bank transactions that match the specified criteria.
By setting up payment rules effectively, you can streamline your bookkeeping process in Manager.io, ensuring that transactions are categorized correctly with minimal manual intervention.