Journal Rules

What are Journal Rules?

In every reconciliation there are some transactions for which there won't be a corresponding entry to match it against. A perfect example of this is Bank Charges. You will have an entry on your bank statement for bank charges but you will never have an expected transaction on your cashbook. So instead of having to reconcile these manually every time, you can create a journal rule to automatically create the balancing journal entry and reconcile them based on a defined rule which identifies the transactions.

Creating a Journal Rule

• Select Setup>Journal Rules to open the Journal Rule screen

• The rule is the where clause of a SQL statement. Specify the field and criteria. You must use the actual column names, not the aliases specified in the account setup

• Journals can be created for any transaction that has a consistent reference that can be identified regularly, on both the Bank and the Cashbook side

• You can test the rule to make sure it is returning the transactions you expect

• Journal rules are only ever run on unreconciled transactions