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Creating rules when uploading statement entries

Creating rules when uploading bank statements will help create transactions automatically and reduce workload for the future.

When you upload statements to Clever Accounts, you still have to manually set up the correct type of transactions and allocate a nominal code and confirm whether it is vatable or not.

Even though this is still much quicker than manually entering this information, it still means spending a bit of time matching entries.

When you set up a rule from an uploaded transaction, you can select the type of transaction this entry should be, what nominal code it should be allocated to and even what VAT rate it should be assigned to. The rule will then update the current entry and all future statement entries that match the rule criteria.

Creating a rule: the basics

When you upload statement entries you will see a rule link against each one.

If you do not wish to create a rule you would use the drop down menu on the right hand side of the entry to create the transaction.

However, if you want to create a rule for this entry and all future ones, click on the link called rule and a pop up will load.

Adding criteria for future rules

When you next upload a statement, Clever Accounts will automatically check whether any rules should be applied to any entries.

In order to check, you need to set up criteria that will be used to match against future transactions.

The first item Clever Accounts will look at is the reference field.

The reference field should already be pre-populated with the reference from the bank statement. You should then select whether the reference should be one of the following:

  • contains where any part of the reference will trigger the rules.
  • is where the rule will trigger on the exact reference.
  • starts with where the software will trigger the rule if the reference starts with a certain phrase.
  • ends with where the software will trigger the rule if the reference ends with a certain phrase.
  • does not contain where the rule will trigger if the reference does not match any part of the phrase.

Next, enter the phrase or reference that relates to the choice you have assigned on the drop down.

In this case we want to run the rule when a reference contains "EASYSPACE.COM".

If you want to add more criteria to your phrase, click on add more.

You can then add more criteria for the reference based upon an AND or OR statement.

Enter more criteria if needed or move on to the next fields.

Next, you can enter a rule based upon the amount of the entry. This can be add in addition to the reference or instead of the reference field.

The amount criteria fields are similar to the reference fields in terms of what you can add. Using the drop down, select the appropriate options as required:

  • is will trigger the rule on the exact amount.
  • is greater than will trigger the rule if the amount is higher than the amount field.
  • is greater than or equal to will trigger if the amount is higher or equal to the amount field
  • is less than will trigger the rule if the amount is less than the amount field/
  • is less than or equal to will trigger the rule if the amount is less than or equal to the amount field.

Next, enter the amount that relates to the option selected above.

Finally, you can enter the type of transaction that will be created when the rule is trigger based upon the criteria above.

Select the appropriate transaction from the dropdown

Bank Payment or Receipt

When selecting this type of transaction, a bank payment or receipt will be entered into the bank account. Note these transactions do not get allocated to any invoices that might be on the system.

When you select the option, two additional fields will be loaded.

Nominal code. The nominal code is used to allocate the transaction to a code that represents the closest match to the payment or receipt.

To allocate a nominal code do the following:

  • Start typing any part of the name of the codes e.g. telephone, sales, travel and this will search through the names of the codes to filter.
  • Press the space bar on the keyboard to bring up the full list of all codes. Scroll down to the most appropriate on.
  • Click on the arrow image on the right side of the field to bring up the full list.
  • Start type any part of the 4 digit code of the code grouping.

VAT Rate. The VAT rate (if VAT registered) is automatically updated based upon the choice of the nominal code.

If you need to override this VAT rate, click on the dropdown to select the new VAT rate you wish to choose.

Bank Transfer

If you make a regular transfer between accounts that you have active on Clever Accounts you can set up a rule to automatically allocate the bank account that the payment is paid to, or received from.

Click on rule on the transaction that you wish to create a rule.

Enter the various criteria as detailed above.

When bank transfer is selected a dropdown menu appears for you to select the bank account that the payments should be paid to or received from.

Start typing the name of the bank account that you wish to use and press enter or click on the option using your mouse.

Click on Add rule to process the rule automatically.

Sales & Purchase Invoices

Adding rules that allow invoices to be created and the payment allocated to the invoice are useful if you have forgotten to add an invoice to the customer account already.

However, they are also useful if you receive, or make, lots of payments within the bank that you may want to create an invoice for.

Click on the statement entry that you would like to automatically create an invoice in the future and enter all relevant criteria as described above.From the create action field, click on new customer invoice or new supplier invoice depending on what you want.

In order to create a sales or supplier invoice correctly, you will need to enter the account name, nominal code and VAT rate.

Once the fields have been populated, click on Add rule.

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