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Speed up your bank reconciliation – setting up Bank Rules in Xero

Posted on 27 Nov 2020 - What's trending?

Xero platinum

Sometimes there are regular bank transactions on your statements that you can let bank rules take care of for you, for example, Bank Charges or a regular HP repayment.

The easiest way to set these up is from within the bank reconciliation screen:

1. Click Create rule on the statement line you want to create a bank rule for:

bank rules in Xero

2. In the Create Rule screen enter the conditions to build the rule.

For more details please follow the help guide:

https://help.xero.com/uk/BankAccounts_Details_BankRules

Bank Rules – how they work

  • With bank rules you define the conditions for each rule to match with your imported statement lines
  • After you import a bank statement and go to reconcile your account, your rules automatically run
  • For each bank statement line that matches a rule, Xero suggests a transaction using the conditions you've set
  • If the transaction that Xero suggests based on the rule is not quite right, you can edit it, create a new one, or find a transaction you've already entered into Xero to match with your statement line

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