 QuickBooks Desktop 2023. Bank rules. Same vendor filter by amount. Let's do it within two weeks. QuickBooks Desktop 2023. Support accounting instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course. Each course then organized in a logical reasonable fashion making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems PDF files and more like QuickBooks backup files when applicable. So once again click the link below for a free month membership to our website and all the content on it. Here we are QuickBooks Desktop Bank feed practice file. We started up in a prior presentation going through the setup process we do every time in the view drop down. We got the hide icon bar the open windows list. We got the open windows over here in the left hand side reports drop down company and financial the P to the L the profit to the loss of the income statement. We're going to range change that we're going to go from 010122 to 123122 and then customize the report up top to the fonts to the numbers changing that font on up to 14. OK. Yes please and OK reports drop down once again going to the company and the financial looking at that balance sheet standard report the other major financial statement report customizing changing the range from 010122 to 123122 and then we'll customize our fonts and numbers need to be increased to 14. Is that OK. You bet you bet it's OK. OK. And then we're going to go to once again this time the banking drop down because that's where our focus is this presentation Bank Feed Center and that would only be there if you had set them up in a prior presentation which we have are focusing in on the rules this time the rules. So we're in the unrecognized areas. We're talking about a bit more complex this rules this time the rule based on the amount that we are purchasing. So I'm going to sort this way thusly and I'm looking for I'm just going to pick an outflow and this would most likely be applicable or I would imagine using this rule or I have used this rule in instances where we're making purchases from the same place like a supply store. But most of our purchases possibly are for something like supplies obviously or possibly inventory. But sometimes we purchase other stuff there such as equipment that would be furniture and equipment something that we would have to put on the books as an asset and depreciate rather than expensing it at the point of purchase. So how can we distinguish and make that an automatic kind of thing within our bank rules. I'm going to hit the little icon here and see if I can remove the job custom field so I can see a little bit more. OK. So so that would be like a like if you're an office supply store that you're buying from an office depot oftentimes might be something that would be falling into that area. Now remember if I go to the balance sheet when I purchase something and I'm going to pay for it on the bank feeds the checking accounts going to go down clearly. The other side usually goes to an expense account which in this case we're thinking supplies usually when I buy from an office supply store. But sometimes if it's over a certain dollar amount I have to put it into like equipment as opposed to supplies. And that's a that's a deviation from the cash flow basis. But I have to do it because even if I'm a small business on a cash flow basis the tax code is going to require me to capitalize certain things certain large purchases or forklift or something. I'm going to have to capitalize it and then depreciate it. So I've got to break that out. And so then I can choose an arbitrary dollar amount to kind of make a distinguishing factor between the items. So for example if I go to the bank feeds I might say hey look if I'm if I'm assuming that this is an office supply store I'm going to pick the smaller one and say if it's below a certain dollar amount I want you to just write it off to supplies. So I'm going to say let's do that first. I'm going to say let's say it's going to go to let's make a vendor S. A. R. E. S. R. E. I'm just making this up that that I mean this obviously isn't actually an office supply store. I'm going to make it a little bit different than the last vendor we set up and we're going to do a quick add. It's going to be a vendor. That looks good. Now the account I'm going to assume this one just goes to supplies. Now remember supplies itself is also kind of a confusing area because if you have small supplies like staples or something you would just expense them. But if you have larger supplies if you have supplies for like a medical office or something that you really want to track because they're significant in cost then you might put the supplies on the books in a similar way as inventory as an asset and then count them and so on and expense them as you use them. But we're going to assume here that we're just going to do the easy thing expense the supplies and if I have a large purchase then I'm going to put it on the books as a fixed asset. So then I'm going to customize or I'm going to add more detail that is so that we can make a rule. Let's make a rule down here and I'll make the rule a it's going to be an S-A-R-E-S-R-E-G-I-S rule and let's make it under under rule under $1,000. So we have the choice between all or any. I'm going to have to choose all this time because we have multiple rules all of which need to be met in order for the condition to apply. So we're going to say the description first part is the same I'm going to say description if it matches no I'm going to just say contains make it a little bit more broad and I'll just say if it has that vendor name in it then that part of the rule is good. That might be where we stop if we purchased all the same stuff from the office supply store it all being supplies and so it'd be easy but I could say well sometimes I purchase large things there that I need to put on the books as an asset. So I'm going to say it's got to have another rule add a line here and I'm going to assume that this one has to be under the $1,000 or let's actually pick the 2088 just a 2088 and the reason I'm picking that random number like that is because I want one of the items to be above and below the rule so that the two different rules that we apply will apply out. So I'm going to say then the description begins no I'm gonna I'm gonna say it's gonna be an amount rule not a memo rule and a mount rule now we can say that it can say equals or greater than or less than so we're gonna start off with less than if it's less than this amount which I know is random then we're gonna apply it to a a we're gonna apply it to an expense account if it's greater than that we're gonna set up another rule to apply it to an asset account now you might then ask what should that number be I'm using this so that the rule will go to each location but you might ask well what should that number actually be in reality it kind of depends on what's material to you because in theory anything that you're gonna use on a cruel basis for more than one period should go on the books as an asset and then you expense it when you consume it however if you did that for like paperclips that would be way too time-consuming and not give you any benefit because the paperclip total cost is in material to your decision-making process for your business so you get so usually from a practical standpoint you choose a number that's somewhat significant right it might be like a thousand dollars or something like that five hundred dollars where you're gonna say okay if it goes over that dollar amount I would at least want to check it to see that that it that I don't need to put it on the books as a fixed asset so you might just leave this rule and then you'd say if I if I apply this rule out for example and say okay then it recorded that one item but it didn't pick up the other one it didn't pull this one over to the recognized items because it's over the dollar amount it's just over the dollar amount and that one rule could be enough for you to then say okay I'll just leave everything that's under a certain dollar amount then would be recorded automatically are pulled into recognized if it's over the dollar amount maybe I just leave it there and say okay now I'm gonna check to see if I need to apply it to a fixed asset or just record it as an expense or we can create another rule which we will do shortly which will apply it out automatically if it's over a certain dollar amount to a fixed asset account so if I then go to the to the balance sheet we could say okay the well we know that cash is going down let's go to the other side the profit and loss and we just recorded it to the supplies account down here so supplies boom so we just recorded that into the supplies let's close this out and let's go back to the bank fees now just to see that rule apply so we can see it applied if I was to say rules up top and then adjust that edit that rule and say what if I brought this up to to instead of eight eight I bring it up to two three thousand right three thousand then I was to say save it and then apply it now it pulled that other one over into here and it's gonna record it to a supplies I'm gonna bring it back down again to something under I'm gonna bring it down to one thousand this time since I already recorded one of them so let's let's go back up to the rule again and let's say that that it was here edit and let's bring it down to like a thousand this time that will not unrecord the rule that has already been applied but it'll be it'll then apply to the current items that have not yet been taken out of bank feed limbo right so I'm gonna then say okay so now it pulls it back out brings it over to the unrecognized so let's sort this way and say say now I'm gonna go into this one and let's make another rule this time where I'm gonna say that it's gonna be for the same series sorry s a r e s r e g i s let's just keep that and then we're gonna say the other side is gonna go to this time equipment a fixed asset type of account right so this is a fixed asset as opposed to an expense because it's over the threshold I'm gonna make a rule then so I'm gonna add add more details and say that we want to make a rule so we'll say create a rule and this is gonna be for the s a r e s r e g i s over 1000 so all conditions must be met and the description I'm gonna say contains so this would be just like the normal rule is I don't need all this junk if it just has that then I'm saying okay that would be like the supply store if this was a supply store and then I'm gonna say that we want an amount if it's over this time greater than then we're gonna I'm just gonna say a thousand this time so it'll apply out to this particular item if it's over that then we're gonna want you to apply it to the equipment account so there we have that now you might be saying well what would happen if it's exactly a thousand right so you could make another rule and say well what if it's you know if it's exactly a thousand applied somewhere but that's probably not likely to be the case and if it is it'll show up here and you'll add it any case so whatever but we're gonna say save it and then let's say save and close now it applies that out if there were any other rules that within or any other transactions it would then apply the rule if I go into the profit and loss let's go into the balance sheet I should say now it decreased the cash because it was an outflow and the other side this time went to the equipment account double-click in the equipment account so now we've got the item that was applied here and the other item applied to supply so now we've got this automatic rule that has the same vendor but will be breaking out some items to supplies some items to an asset based on the dollar amount in question so if I go back into my bank feeds you can see those rules up top and then you can refine down your rules so if you have stuff that you're paying to like office Depot or something like that you're saying hey look I'd like to have a rule like that to at least note and at least have the system say hey wait a second when you purchase something that's over a certain dollar threshold then you might want to have that second rule you can go in here and edit them and these two rules again applied together will mean that over a certain dollar amount like a thousand will go to equipment under the dollar amount will go to supplies and and then again you could make one another rule that would be equal to but it's probably not necessary because that's probably not the most likely thing that would happen and if it does then then possibly neither rule would apply and it would just you just add it over here when it when you go through your data so that's that's the general idea with that one will continue on with rules in future presentations