Click on Create a rule from the Timeline (see where do I go to create a rule?)
Enter the rule name in the Enter a name for this rule field.
Set the IF condition: This will help identify the transaction you want to apply the rule to
Select the Type to specify if you want to create the rule for Money in or Money out transactions.
Select Occurs in to specify the bank or credit account from where the transaction occurs in
The Description is the banking transaction description. This is the unique identifier for your transactions (current and future).
Enter the banking description of the transaction in the Enter a keyword field.
All unique banking transactions can be searched and selected.
Note that you can edit the banking transaction to suit your needs; Add to or truncate the existing banking transaction
Select the following parameters to define how Fincent will find the transaction
Contains - The rule will find transactions that ‘contains’ the description you have defined. Contains offers flexibility and adaptability to capture transactions based on keywords in their description, which can be especially useful when dealing with variable or evolving transaction data.
Equals - The rule will find transactions that ‘equals’ the description you have defined. Equals ensure that only transactions with the exact description will be captured to apply the rule.
Set the Then condition: This will get applied to transactions that have been found based on the IF condition
Select the vendor or customer in the Assign Name field to define who will your paying or receiving money
Select the category in the Assign Category field. Once the rule is saved the selected category will be applied anytime a transaction (found based on the IF condition) comes into the Timeline.
Apply Rule helps you define when you would like the rule to be applied. You can either choose:
All transactions - The rule will be applied to all relevant transactions that is in Timeline and any future relevant transactions
Start on - Select the date from when the rule should be applied. The rule will be applied to all relevant transaction that have occurred from the date you have selected and any future relevant transactions
Click on Save to save the Rule. Note that you must select the Category to save the rule.
Once you save the rule, you will be asked to review your rule.
You will also be told the number of relevant transactions that your rule has found. If you find this number is not accurate (seems too high or low) please click on Edit rule to ensure you have the set the correct rule
Click on Save & confirm for the rule to be applied
The rule gets applied to the relevant transactions (existing) immediately after you confirm the rule. It’ll take a few minutes for the rule to be applied. You will get a confirmation once the rule has applied.
The rule icon will appear next to the relevant transaction