Add automation to your bank account processing through Rules and Suggestions in coding bank transactions into journal entries. Rules will take details from the bank transaction such as description and category to create criteria that when met, can create a journal entry with the corresponding ledger account and dimensions (e.g. vendor, cost center, etc.). Suggestions are derived from AI reviewing the transaction to suggest the creation of a Rule or Suggestions per bank transaction. For both Rules and Suggestions, the proposed coding to journal entries will appear in columns alongside the bank transaction for review by users to be confirmed before journal entry creation.

Bank Rules provide automation to automatically pick up inputs from bank transaction details to suggest journal creation with specific dimensions (ledger accounts, cost center, vendor, etc.).

Rules are most effective for:

Bank Rules can be added at the top of the table of bank transactions for any bank account, within the Bank Detail page, or deliberately on the Bank Rules tab at top of the Bank Accounts tab.

When creating a Rule, see the below requirements to add a 1) Bank Rule name, 2) Selection of Bank Account, 3) Match Criteria for what details from Bank Transaction trigger a Rule, and 4) Dimension Settings for coding t0 the journal entry:

When filtering on the bank transactions table, click the "Add Rule" button to prompt the filters in place on the table automatically into a new Rule. For example, if the below filters are in place:

And user clicks +Create Rule:

The Create Rule form will open with the filters auto-populated:

Submit the Rule with at minimum a Rule Name and a selected Ledger Account to complete the Rule creation process.

For each Bank Account, control the available Dimensions that can be coded under the Configure Dimension Settings (default set to Ledger Account, Customer, and Vendor). This is where it can be determined what fields should be included with Rules or Suggested from AI for the eventual journal entry:

Rules are listed in order of priority and the list allows for reordering using the drag and drop mechanism. When processing transactions per Bank Account, the higher priority Rules will be tried before lower priority Rules:

Edit, Copy, and Delete Rules from the Actions menu next to Rules:

Update Rule Dimensions and Delete Rules in bulk:

Once Rules have been processed, any bank transaction without an associated journal entry will run through an LLM (large language model) to make the best suggestion for the inputs to a journal entry from the bank transaction. Just like Rules, Suggestions are prompted whenever new bank transactions are added to a bank account, whether from an automatic sync or excel upload.

The inputs for the journal entry are controlled under the Dimension Settings for each bank account, and the options for classification are:

You can see the inputs from both Rules and Suggestions in the same place, the specific classification columns at right of the bank transaction information:

To create journal entries based off the classifications from both Rules and Suggestions, a new bulk action to "Process Suggested" is added that can be used to create journals for the selected transactions when selecting checkboxes at left of all bank transactions.

Users can choose to manually reconcile the transactions and not use the suggested classifications, and create through single journal entry creation, or bulk creation processes and ignoring Suggestions.

The suggested Classifications will be added to any bank transaction without a journal entry already associated, and can be edited before eventual journal entry creation. Overall, all Rules take priority for classification before any Suggestion.

Rules that create classifications can be revealed when hovering over the Rule classifications:

And the Suggestions can be seen when hovering as well:

The inputs from classifications can be edited by double clicking per dimension within the bank transactions table: