Payment And Banking

How to create bank rules on Tyms Book web application

Updated 6 months ago by Praise Arannilewa

Help Center Payment And Banking How to create bank rules on Tyms Book web application

Bank Rules serve as a predefined set of conditions within Tyms Book, enabling users to effortlessly categorize transactions. These criteria can be created by users on the Tyms Book application. Once met, these conditions facilitate the automatic assignment of customers, categories, and transaction types to statements that have been pulled from  banks.

Here is a brief guide on how to create bank rules for automatic record-keeping on Tyms Book web application.

Steps in creating bank rules on Tyms Book web application:

How to create bank rules on Tyms Book

  1. Log in to your Tyms Book account.

  2. Navigate to the Banking section below the Debts Manager section on the menu.

  3. Select the bank rules page and click on the “New Bank Rule” button.

  4. Enter the rule name to identify the rule you’ll be creating.

  5. Select the bank you’ve added previously or click the button below to be directed to add a new bank account.

  6. Select if cash flow is inflow (Sales) or outflow (Expense).

  7. Select the condition format for execution: "Any" or "All." When "Any" is chosen, the transaction will be categorized as directed if any of the specified conditions are met. On the other hand, when "All" is selected, the transaction must fulfill all of the designated conditions to be categorized according to its assigned criteria.

  8. Click on the “Add button” to add a new condition.

  9. You can create the conditions in which your bank statements must fall into to be categorized into your various records.

  10. Choose your desired option from the dropdown menu beside the "Column" and "is" text fields. For instance, if you select "description" for the column and "contains" for the condition, and input "Sales," Tyms Book will search for transactions with descriptions containing the term "Sales." Similarly, when you pick "amount" for the column, you can specify whether it should be equal to, greater than, or less than a certain value. Tyms Book will then identify transactions that meet these amount criteria.

  11. Click on “Add condition” to continue setting the criteria.

  12. Select where the transaction should be recorded among the four options - Sales, Expenses, Journal or Asset Records.

  13. Add the contact details of the contact to whom this record should be linked. You can either choose from your existing contacts or add a new contact by clicking the button below.

  14. Check the box below to keep bank narration or uncheck to let it go.

Click on “Save Bank rule” and this bank rule will be saved and connected to the individuals, conditions and banks you have entered. When transactions are pulled that fit into this criteria, they fall into the destinations selected.

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