How to Setup Quickbook Rules

Step 1: Log in to QuickBooks Online

1. Launch your web browser and navigate to the QuickBooks Online login page.

2. Enter your login credentials (username and password) to access your account.

Step 2: Access the Banking Tab

1. Once logged in, click on the "Banking" tab on the left-hand menu.

Step 3: Review and Categorize Transactions

1. On the Banking page, you will see a list of your recent transactions.

2. Review each transaction and ensure that they are correctly categorized. For transactions that require categorization, proceed to the next step.

Step 4: Create a New Rule

1. Find a transaction that you want to create a rule for.

2. Click on the transaction to open the transaction details.

3. Click on the "Create a Rule" button at the bottom of the details page.

Step 5: Define the Rule Criteria

1. In the 'Create Rule" window, you can define the criteria for the rule:

   1. Title the rule as follows

      1. Persons initials (Paul Park would be PP)

      2. Vendor

      3. Type of Expense

         1. EX: PP. Pixiset. Software Subscription

   2. For expenses, "apply this to transactions that are", "money out", in "all bank accounts"

   3. "and including the following", "bank text", "contains", (for example) "chase", or TheParkBooks", or "Microsoft"...etc.

      1. Define the specific conditions that a transaction must meet to trigger the rule. For example, you can set conditions based on the payee name, description, amount, or account type.

   4. "Test rule" to see which transactions come up. If you have set your parameters correctly, transactions should appear.

   5. "Assign": Select the transaction type, in this case 'Expense"

      1. Select the Category (professional services, meal, travel, or "add" a new category)

      2. Select the Payee (this is your customer list. Your previously populated customers will be here, or you can "add" a new customer)

Step 6: Review and Save the Rule

1. Review the rule details to ensure accuracy and relevance.

2. Click the "Save" or "Save Rule" button (location may vary based on your QuickBooks Online version) to save the rule.

Step 7: Rule Application and Future Transactions

1. QuickBooks Online will apply the newly created rule to any past transactions that meet the defined criteria.

2. For future transactions that match the rule criteria, QuickBooks will automatically apply the rule, saving you time on manual categorization.

**CAUTION**

Be cautious of having Quickbooks automatically add transactions for you. We recommend turning "Auto-Add" off as QBO can sometimes label transactions incorrectly that slightly meet the provided criteria. Make certain to always review each transaction for accuracy.

Step 8: Edit or Delete Rules (if necessary)

1. To edit or delete existing rules, go to the "Banking" or "Transactions" tab and click on "Rules."

2. Locate the rule you wish to modify, click on the "Edit" or "Delete" button, and follow the instructions provided.

Please follow these guidelines carefully when creating rules in QuickBooks Online. By adhering to this SOP, you can streamline your transaction categorization process and maintain accurate financial records.