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How to Create Bank Rules – Desktop
How to Create Bank Rules – Desktop

Create bank rules to automate income and expense tracking.

Oliver Chiang avatar
Written by Oliver Chiang
Updated over a week ago


What You Need To know

Landlord Studio allows you to connect your bank account and import transactions automatically, which makes reconciling your accounts easier and faster. In this guide, we walk through the bank rules function, showing you how to create and use bank rules to streamline your transaction reconciliation.

  • This feature is currently only available in the USA, UK, and Canada.

  • We have partnered with Plaid and will be rolling this feature out to the rest of the world as they expand into new countries.

  • When choosing your subscription plan it's important to note that Bank feeds is only available on our PRO plan.

  • You can also create new bank rules on mobile.

What are Bank Rules?

Bank rules allow you to streamline your income and expense tracking by auto-matching transactions to the rules you create, automatically selecting the category, and property, and even splitting transactions into multiple line items. This allows for simple one-click reconciliation.

To set up a bank rule, you need to define the conditions that trigger the rule. This could include specific keywords in the transaction description or the amount of the transaction. You can also set rules based on the account the transaction is coming from or going to.

Once you've defined the conditions for the rule, you can then specify the payment or expense categories that the transaction should be categorized under. This can save you time and reduce errors in your accounting by automating the categorization of your bank transactions.

For example, you might create a rule with the conditions that any transaction with a description that includes "Home Depot" be categorized as a maintenance expense, and assigned to property X.

How to Create a Bank Rule?

  1. Log in to your Landlord Studio account.

  2. Navigate to “Bank Feeds” via the left hand menu

  3. You can now simply expand the details of a transaction you wish to use as a base for the rule and select "Create a rule".

  4. Or select "Bank Rules" in the left-hand menu and click on the "+ New rule" button.

  5. Specify the conditions to trigger the rules. Each rule can have up to 5 conditions. The available fields for the conditions are:

    • Description

      • contains

      • equal

    • Amount

      • equal

      • less than or equal

      • greater than or equal

  6. Choose the bank account that you want to create the rule for. By default, the rule will be applied to all bank accounts connected.

  7. Define the conditions for the rule, including the transaction type, property, category, and the allocation percentage. The percentage must add up to 100%.

  8. Save the rule by clicking the "Save" button.

Here's an example of a rule that will pick up any expense transactions from Home Depot over $100.00, and categorize the expense to Repairs and maintenance.

How to prioritize Bank Rules

You can rearrange the priority of the rules simply by dragging and dropping them. The order of the rules is particularly useful when there are rules with slight contradiction conditions.

How to create or reconcile bank transactions matched by Bank Rules?

Transactions picked up Bank Rules are highlighted in green. You can simply select the "Ok" button located at the end of the transaction to create the corresponding income or expense record.

In the case where you do not wish to apply the rule against the transaction, the rules can be overridden or bypassed by select the "+ New transaction" option.

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