If you have transactions that reoccur regularly, then you may enjoy REI Hub's Rules feature. Rules help the system recognize newly imported transactions by matching to either a part of the description or the exact amount of the transaction and then assigning the property and accounts you have specified.
Some important things to know:
Rules are currently available for Revenue, Expense, Fixed Asset Purchase, Splitting Transactions, Ignoring, and Transfer Between Accounts transactions. You can also automate splitting transactions with rules. Other transaction types may be supported in the future.
You can optionally ask the system to automatically book transactions that match your rule. If you do so, all existing/past and future matches in your import feed will automatically be booked on your behalf. With this in mind, make sure your rule is specific enough!
Uncheck the box if you do not want transactions to be automatically booked on your behalf. When you click 'Book' on the transaction from the import feed, you will see the Rule match. You need to click through and confirm to complete booking the transaction.
To Add a New Rule From an Imported Transaction
1) Navigate to the Import Feed and click Book on an imported transaction
Find the import feed under the Transactions header of the left-hand side menu or from the bank account's black 'View All' button.
After clicking Book, fill out the property and relevant accounts as appropriate.
2) Check the box at the bottom to 'Create a new transaction matching rule'
3) Choose how you want the rule to match
Check 'Match by description'
Choose part or all of the description of the imported transaction to base your match on. Make sure your choice, such as a business name or account number, will always be the same.
Check 'Match by Amount'
The exact amount of the transaction, which is already recorded above, will be used for your match.
The REI Hub system will look for future transactions of the same amount and offer this rule as a match.
4) Automatic Transaction Booking
REI Hub can use the Rules you create to automatically book transactions on your behalf. If you check the 'Automatically book matching transactions' box, the system will scan your entire import feed and immediately book all transactions that fit the Rule. When new transactions are imported, they will be scanned, and any that match the Rule will be automatically booked.
This can save you lots of time, but make sure your match is specific enough that only intended transactions are caught in the Rule and automatically booked.
5) If not using auto booking, a Match will be presented after clicking Book
When booking a transaction that matches one of your Rules, you will see the Action updated to Match (instead of Create) and a prefilled checkbox for the match.
6) Select which accounts the rule applies to
Leave the box unchecked to have this rule apply to only the individual account you are currently working in.
Check the box to have this rule apply to all transactions that it matches across all of your bank and credit card accounts.
7) Visit the Rules page to add, view, edit, or delete rules
Navigate to the Import Feed and click Rules at the top.
Click on the blue part of the description to edit or delete the rule. Click the Add Rule button to add a rule without going through the import feed.
Still have questions? Reach out to our Support Team via email at [email protected] or call us at (888)939-6865.