This article will teach you the following:

• Creating Transaction Rules
• Bulk Processing for Transaction Rules
• Maintain Transaction Rules
• Using Wildcards
• Transaction Rule Tips

The video below explains best practice suggestions for setting up and managing transaction rules. It goes through eight tips on how to set up good transaction rules and what to avoid when setting up transaction rules.

Creating Transaction Rules

There are different ways that Transaction Rules can be created.

• Class community rules e.g. some interest and bank fees. These are created automatically for certain bank accounts by Class.
• In bulk, for instructions refer to the Cash Console
• In the Match Transaction screen, see below for these instructions: 

Navigate to Fund Level > Transactions > Match Transactions

1. Click on the Menu Icon against the transaction you wish to create a rule for
2. Select Create Rule For
   
    
3. The Transaction Rule screen will then open
4. Confirm the existing Description or modify it
5. Select the Direction, using the drop-down
6. Enter Amount, if you wish for the rule to only pick-up transactions with a specific amount
7. Select Bank Account, if you wish for the rule to only pick up transactions from a specific bank account 
8. Select Classify As, using the drop-down to select the account you want the transitions to be coded to
9. 'Runs as part of 'Bulk Processing' if ticked, the Transaction Rule will run and match overnight every night, unless you want to check the matches you should leave this ticked. More information is detailed below under Bulk Processing for Transaction Rules.

10. Select Save
    
    
     

    Transaction rules in Class are not case sensitive. If you create a rule in capital letters and the description is in lower case it will still match and vis versa.

Bulk Processing for Transaction Rules

Bulk Processing can increase automation by allowing the system to automatically create rules for transactions that come through via Data Feeds and automatically match them off.

Our Best Practice recommendation would be to set the majority of Transaction Rules to Bulk Process, especially for repetitive transactions that do not require review, such as Account Keeping Fees, Bank Fees, Interest Received, etc.

Maintain Transaction Rules

Maintain Transaction Rules shows you all transaction rules created for an entity. You can create, review, edit or remove transactions from this screen. 

1. Create a new transaction rule using the +Add New - (It is quicker to create Transaction Rules in the Match to New screen)
2. Edit or delete a Transaction Rule - You can change the filters (direction, amount) description, bulk processing or the classification of an existing rule. 

Using Wildcards

A Wildcard * is a character that is used in the middle of a description to replace part of the text that will change. For example "Rent Jan Forest Rd" should be written as 'Rent * Forest Rd'

A Wildcard is not required at the start or end of a description, it is already there by default. e.g. 'Jan Interest' should be written as just 'interest'. 

Transaction Rule Tips

• Transaction Rule Factsheet for Healthchecks PDF

What's Next?

Learn how to process Ad-hoc Transactions.