How bank rule conditions work

Xero uses conditions you set to match against the information on your imported bank statement lines to decide when to apply the rule. Your rule may be simple, with only one or two conditions, or complex, with multiple conditions that evaluate several pieces of information.

Every bank rule must have at least one condition, but you can add as many as you need to build the rule. You cannot delete the last condition in a rule.

If you create a bank rule when you're reconciling or cash coding, Xero will automatically add conditions based on the statement line, using an equals comparison on the values from the fields in the line. Any conditions that you add will also use information from the statement line if possible.

Bank rule conditions and titles should use only letters and numbers and should not include any punctuation or special characters.

The conditions explained

What's the difference between Any and All?

Image showing where the Any and All options are.

  • All - The rule is applied only when every condition is met. If one condition doesn't match, for example if a particular piece of information is missing from a statement line, then the rule will not run. This makes the rule more restrictive.
  • Any - The rule is applied if only one of the conditions is met. The rule won't fail just because one or more conditions doesn't match. This makes the rule less restrictive.

What fields should I select?

Text field

You can select an individual text field, such as Payee, or you can select Any text field to search a combination of fields.

  • If you select an individual text field, Xero will apply the rule if that particular field meets the condition.
  • If you select Any text field, Xero will search the Payee, Description, Reference and Analysis Code fields on the bank statement line. Xero will apply the rule if one of the fields meets the condition.

Comparison

equalsThe condition has to exactly match the selected text field of the bank statement line.
containsThe selected text field in the bank statement line has to contain the value(s) entered.
starts withThe selected text field in the bank statement line has to start exactly the same as the value(s) entered.
is blankThe selected text field in the bank statement line must be blank

Values

For the comparison options equals, contains or starts with, enter the relevant value(s) to meet the condition.

For example, for the condition below, the bank rule would be applied if either the description or reference text fields in the bank statement line contained the word 'Energy'.

Image showing bank rule conditions.

Allocating fixed value line items (optional) and the remainder

You can set up your bank rule to allocate one or more fixed-value portions of the transaction to an account in your Chart of Accounts. You can also, optionally, assign a tracking category.

After you've set up any fixed value allocations, you need to tell Xero what to do with the balance of the transaction. You can allocate the remainder to one account in your Chart of Accounts or split it between two or more, and assign a tracking category if you wish.

For example, if you make personal toll calls on your business telephone, you may want to allocate the base charge to Telephone & Internet. Then you can separate out the personal and business calls when you reconcile the transaction each month.

Enter:

  • the Amount of a fixed value allocation as either a positive or negative number with up to two decimal places

  • the Percent of a remainder allocation as either a positive or negative number with up to two decimal places

You might also be interested in