Do you use QuickBooks Online and want to create Custom Bank Feed Rules?

Question

Are you a frequent business traveler that keeps your car squeaky clean?

Do you use QuickBooks Online for your business?

If the answer is yes, save yourself time categorizing your car wash transactions in your QBO bank feed by creating a custom bank rule that will "automatically" post your car wash charges to your register.

You can create this rule in 30 seconds and never have to see another car wash transaction in your QBO bank feed!

1. Click on the "Create rule for this transaction" right within your bank feed transaction
2. Description, Contains, "Car Wash"
3. Transaction Type: Expense
4. Payee: Vendor Name or Generic Vendor Name for ALL Car Wash Companies
5. Category: Expense Account such as "Automobile Maintenance" to auto-categorize to
6. Select "Auto-categorize and auto-add" under "How do you want to apply this rule?"

Answer 1

Hi Ana,

I'm an Advanced Certified QuickBooks Online ProAdvisor that owns and operates my own Cloud Accounting Firm, and have designed a custom accounting platform that seamlessly connects to QuickBooks Online.

I have mastered the use of the QuickBooks Online bank feed, so I do not experience the same issues as you have described. The desktop version had some historical issues with the bank feed, but I feel they are resolved. I'm also Advanced Certified with the desktop version.

The important thing to remember that I tell all of my valued clients is that "green does not mean go in QBO". The bank feed technology is a "Rules Engine", and it relies upon carefully created "Bank Rules" to perform in an optimal way. I can help anyone create custom bank rules that will help them to love the bank feed.

I have manged high volumes of bank feed transactions like you have noted with ease because of mastering the bank feed and bank rules. Reach out to me if you would like to learn more.

Warm Regards,

Regina

Answer 2

This is great, but I have yet to see either QuickBooks Online or QuickBooks Desktop actually be 100% accurate. Regardless of how I set up the rules, I always find multiple lines that were interpreted incorrectly. It might also be the number of transactions; normally I have to deal with over 1000 of them so maybe it's just my system. However, when it's right, it's awesome!

I just wish that on the desktop version the bank feed worked better. I've used the online one too and that one seems to be more accurate, but still every now and again one slips past their algorithm I assume!

Do you ever have this issue?