Before we go into the process steps for importing the bank rule from QuickBooks Online to desktop, it’s better to first understand, what are Bank rules. Bank rules are nothing but an added functionality in QuickBooks Online that helps in categorizing recurring transactions each month even if they come with a slight difference. It also helps in customizing the variable of the bank feed in QuickBooks Online, which ultimately leads to the automation of the bank transactions.
Now if we talk about importing the Bank rules from QB online to QB desktop, this functionality is not available in current timing, so you may have to manually set up the bank rules in QuickBooks Desktop. Let us see in the below section how to do this?
Process Steps for Importing or Manually Setting up the Bank Rules in QuickBooks Desktop
Step 1. First of all, click on Banking menu > then Bank feeds and choose Bank feed centre> now click on rules in Bank feeds window.
Step 2. After that, click or select the Manage rules drop-down menu and click on Add new.
Step 3. Now in Add rules window, enter the rule name, and from the description drop-down menu, select the data for the description field. In case you want to create more than one condition click on the plus button.
Step 4. Now make the appropriate selection from the drop-down menu from the ‘Do this’ section and then enter the Payee or Account name.
Step 5. In the last step, click on save to complete the process.
Now once we are aware of the process of manually creating the bank rules in QuickBooks Desktop, let us now look into some common FAQs by the users:
How can I Export the Bank rules from QuickBooks Desktop?
Go to the navigation menu > click transactions > Banking or Banking feed (whichever you find). Now click on the arrow for updating or managing the rules. Now on the rules page click on New rules and then select export rules.
Please Explain the Process steps for entering Bank Transactions manually in QuickBooks Desktop?
First, click on the plus icon > then choose the transactions that you want to create and then click on the statement. Choose the statement that you wish to create and click save and close.
How can I modify or Rename a Bank Rule in QuickBooks Desktop?
First, click on Bank feeds > Bank feeds centre > choose rules in Bank feeds window > and highlight the rule you want to modify or rename. Now from the action column, click on the drop-down menu and choose the edit rule. Now the change the details of the rule and click on save.
How can I Delete the Bank Rules in QuickBooks Online?
At first, you need to go and click on banking from the left tab > and click on the rules tab. Now look for the rules under the action column and click on the down arrow reflecting against the Edit option. Now click on delete and then click on Yes to confirm your action.