 QuickBooks Online 2022. Bank feeds add remaining transactions and bank rules. Get ready because it's go time with QuickBooks Online 2022. Here we are in our bank feed practice file. We set up with a 30-day free trial, hold it down control, scroll it up a bit to get to the one to five percent currently in the home page. Otherwise, knowing as they get things done, page business view as compared to the accountant view. Changing to the accountant view is something you can do by go on to the cog up top, switch to the accountant view down below. We will be toggling back and forth between the two views either here or by jumping to the sample company file currently in the accountant view. Back to the bank feed practice file opening a couple tabs to put reports in. Right clicking the tab up top to do so and duplicating. Back to the tab to the left right clicking again and duplicating again. As that is thinking, we're going to jump over to the sample company file currently in the accountant view looking where the reports are at in that accountant view. They're on the left hand side under reports. Going back to the business view for the sample for the bank feed practice file. Second tab reports located here under the business overview. We're going to be opening up the reports, closing the hamburger, opening up that balance sheet report. Let's try to do a side by side this time. So when we do the range change, I think there's let's do a few months from 0901 to 1 to let's say 113021. Let's say and let's hit the drop down here and we can start to see how this can be constructing on a month by month basis and run a report such as that. So now we've got the same balance sheet structure. This is where we stand as of a point in time for the end of the three months up top. If we go to the tab to the right, let's do the same thing for the income statement going to the business overview reports and then close the hand buggy go into the profit and loss. Let's do the range change again this time once again for that three month time period. Let's go from 0901 to 1 to 113021 and then hit the drop down looking for the read the months months and then run it there. So there we've got the kind of activity on a month by month basis. So that's another way you can take a look at the data and then we're going to go to the first tab. We're going to find our bank feed information which if you're looking at the business view is under the bookkeeping area and then it's under the transactions up top. Now we might need to add a few accounts as we go. So I like to do that not in the business view but in the accountant view. So let's see where the business where the bank feeds are located in the accountant view by going to the collage up top and let's switch this on over to the accountant view just in case we need to add accounts and not letting the business view drive us to craziness. So now we're in the same area but in the accountant view it's in the banking tab on the left-hand banking up top double banking banking banking tab tab bank bank banking banking tab tab. So if we go into that we're in the checking account checking account and we're just going to go through and add these. This is kind of like the more normal process you might go through of when you're going through the process just adding bank rules where applicable. You might sort through it by date but you might more easily sort through it by description if you have multiple months of date for example of information for example so that you can kind of enter this as quickly as possible. So you'd probably sort it by date and then we look at something like this and say okay there's a 75 let's say let's say that's going to be a transfer and so I'm going to open this up. Now it's saying that it's a transfer up top but we might want to make a rule for it. We might say it's calling it a transfer but I'd rather not depend on QuickBooks. I want to set the rule. I don't want to use QuickBooks rule. I want to make it my rule. So we're going to go into this and say because then you know if QuickBooks has any changes to the way they set the rule you know you don't know what QuickBooks is doing and I want to know what's going on so I think it's best to set your own rules here. So what are we going to call the rule then? Rules need names. Rules need names so I'm going to I'm going to record the the first part of that to savings here so hopefully that'll be on every time we have that transfer take place so I'm going to say that's going to be the rule name. Let's copy that. So I'm going to say that every time it contains and I don't need the whole thing here. Let's stop it like right there. If it contains that then that's when I want the rule to apply. That's my rule conditions. If that condition is met then we want you to use a transfer as opposed to an expense or check type of form and then we're going to be putting it in and you could use like an expense form there. Note that's one of those areas where it's a decrease of the checking account. It's not going to another account too in our business but it's going to us so that still might be an appropriate form for like a transfer type of form and then the account retained earnings now that should be going to it should be going to draws owner draws that's where we want it to go. So it's an equity account because we're imagining we're taking money out of the business in the form of a draw it going from the business to the personal so we're going to call that a draw so it doesn't hit the income statement and so let's save it and close it. So now the rule is being applied between these two then typically you'll just be selecting possibly those two and then I want to accept the rule. The rule needs to be accepted this isn't the one these two not that one this one that one. Okay so that's the one so let's accept it and then let's go back on over to our accounts. So let's go to our balance sheet and let's run it. So if we run it then we would have the impact on there's going to be an impact on the checking account obviously because we're looking at the bank fees and the other side's not going to the income statement but it's going to be down here in the draws accounts. So it should be an impact in the draws accounts. If I go into the draws accounts let's go into it and I'm going to hold control scroll down a bit and I'm going to change the range from 0101 to 1 so we can see all the stuff happening in there. So we've got our $75 transfers they're being done with a transfer type of form. If I was to go into that it would take me not to the bank feeds but to the form of a transfer form instead of an expense type of form or check type of form. Alright let's go back to the left and do another one. This one Primarica. Let's go into that. I'm going to go into it and say we imagined this was for repairs and maintenance. A rule has already been applied to it so typically if that were the case and the rule looks good I'd simply be adding the rule. So this is going to be going to repairs and maintenance location one. So I'm just going to say alright add that and then it would be a decrease to the checking account. The other side going into repairs and maintenance. This is affecting the income statement so now in in the repairs and maintenance down here somewhere it's going to be impacting one of these items with the rule I believe it was the first one that we applied. Let's go back to the first tab again and we go we keep continuing on we got okay Google AdSense so we're gonna say that this one let's set a rule for it. Let's say that let's go let's say where's this going to go that's some kind of income account didn't I set one of these up already I set this up as I guess I called it video content income so I'm just gonna say that's video content income so I'm gonna put that to the category now sometimes you can you could set the rule first but sometimes I like to basically put it in here first and then set the rule so the rule will kind of be set automatically so I'm gonna put the video content income it's gonna go to the to the Google AdSense no class and then when I go to the rule it will already have that populated and I'm gonna say okay let's set the rule for that condition and we're gonna say it's gonna be ads Google AdSense is gonna be the name and it's gonna go checking account down rule all conditions but it could be either because I only have one condition description is what we're gonna be using as opposed to the bank text remember that if it's a complex rule and you're dependent on more than like just the normal description you might want to use the bank text because it's gonna have more content in it but discreet either one will work for this one because it's gonna be fairly vague on purpose because I just wanted to pick up just the Google AdSense that's enough for it to apply the rule if that's in there then what you what we wanted to do is do a deposit type form because it's an increase that's the form that's gonna be used category into the video content income the payee Google AdSense looks good let's add it add it the rule has been applied we'll select those two off and say check it off except the rule what's that gonna do well in the balance sheet if we went to the balance sheet we know the checking account will be impacted I won't even go into it at this point because we're pretty confident on that by now we've seen the increases to the balance sheet the other side is gonna go into the income statement and it would go into that what do we call it we called it some kind of video content income went into the video content income if we go into that did I refresh this we got to refresh it make sure it's fresh and then we can go down and say okay video okay so now we've got the side-by-side on the video content income if we go into it we can then change the range up top if we choose to and I do 010121 and run and so now we've got our information there obviously if we went into any of these we drill down and it would take us to a deposit type of form not back to the bank feed because the deposit forms the type of form that's being used to increase the checking account however this is not the normal form to increase a revenue account which would typically be an invoice or a sales receipt so that means that we don't have as much kind of sub sub reports to break out our information by customer as easily but we're able to construct our balance sheet and it's easy to do that without so that's one that's kind of the trade-off you have there that we've talked about in the past I'm gonna hold down control and do another one here so audible didn't I set that one up too think I have audible in here so it's I just called it audio book income so I'm gonna say alright let's set a rule let's set a rule that one's gonna go into audio audio book we're gonna say that's from auto audio books income it's gonna be an income account now we can create a rule I'm gonna make a rule audible it's gonna be called audible and then so if it says it's a money out rule going out of the checking account all conditions but I only need one condition so it doesn't matter and then we're just gonna call it audible I don't need any of that other stuff that should be enough to distinguish what I what I want and then put it into the deposit and then audio book revenue that's where we want it to go so every time going forward when we see that we'll see the rule I still like to basically confirm it myself but you could add it in automatically from there and try to totally automate the process I still kind of like to see it so I don't usually turn that on so that I can still see it in here and say okay that looks good let's add it confirmed Roger that that's what I like to do it makes me feel special makes me feel like I'm still involved in the process here the computer it hasn't taken over my entire process so that's gonna increase the checking account other side is gonna go into into the run reports and now we've got our super high-level audible income so we can go into that and then if we were to go into that and say let's do a range change from 010121 and run if we were to go into any of this this amazing activity I'm gonna write books I'm gonna do audio books for living now because I'm raking in that's my thing now I'm gonna go back to and then let's do then Amazon.com didn't I set a rule for this one I don't know where I put those let's say let's hit that one down and let's say that's like video content for like Amazon Prime let's pretend so I'm gonna go up top and say that that is an income account but I call it video video content income I'll call it and then I'd set a rule for that set a rule and I'm gonna say this one maybe I wanted to pick up like both of those two even though they're slightly different so let's say they're both you know video content this time because we saw how to differentiate them before so I'm gonna say Amazon rule it's a money-in rule all contents and I'm gonna try not to distinguish between those two so it picks them both up by just including if it contains just Amazon I want you to go we would like you to do this rule so it should apply out to both those even though they're slightly different because they're you know both in alignment with this vague description of just Amazon it's gonna be a deposit video content income payee Amazon let's do it let's save it there it is they've both been added I'll check them both off this time I'll check I'll save a click by checking this box it checks everything at one time one click has been saved a half a millisecond has been gained in my life which I just lost by talking about it but whatever except and then I'm gonna go to the tab to the right side and let's run it and then of course we know that there's gonna be an increase to the checking account I won't even check it out because we know the checking we know what the checking does we're gonna go back on to the other side run this one again this is the income statement and we can go into then an income statement account what did we put video content income like that go into that one for example a hamplow 010121 and run and so then we've got our information in there as well if we were to drill down on it it would take us to sit to a deposit form not back to the bank feeds okay so that means that if I close this back out if we go back to that first tab then next time when we apply everything in into our bank feeds it should be a lot more automated if we set those rules up properly you can check your rules by going to the right here and looking at your rules and I do recommend I do highly feel that that you know setting your own rules and being less reliant on the quick books just kind of making the rules will make the process a lot better it'll make you engaged in the process it'll make sure that you you know where the accounts are actually going it'll give you kind of a role so you're actually kind of involved in adding the information and if there are any changes on quick book side in terms of how it's going to be reading the data or if the date if the memo text differs or something like that your rule is more likely to you know apply it out properly then quick books guessing about it so I would recommend going through for the first couple months doing the work making the rules and then hopefully that will automate a huge portion so that you can construct in essence your your financial statements in a more and more automated fast and easy way like so so now we've got our financial statements created