Bank Rules

 To create a bank rule in QuickBooks Online:

• Navigate to Settings (the gear icon), then select Rules.

• Click New Rule, give it a descriptive name, and specify if it's for money in or out, and the bank account(s) it applies to.

• In the Conditions section, set criteria for the rule (like text in the description).

• Then, select the correct transaction type, category, and other details, and click Save. 

To create a bank rule in QuickBooks Desktop:

• Navigate to Banking > Bank Feeds > Bank Feeds Center, then select Rules

• Click Add Rule to open the Rule Details window.

• In this window, give your rule a name, choose if it applies to Money In, Money Out, or Both.

• Set the conditions (like "Contains Amazon" in the description), and specify the desired actions such as renaming the payee and categorizing the transaction to a specific account.

• Finally, Save the rule to apply it to future downloaded transactions. 

To Create a Bank Rule in Xero:

• In the Accounting menu, select Bank accounts.

• Click Bank Rules.

• Click Create rule, then select the type of rule you want to create.

• Enter the conditions the bank statement line must meet, then complete the remaining fields to tell Xero what to do with a transaction that meets those conditions. 

• Click Save.

• Order your bank rules so that Xero checks rules with more specific criteria first.