Management of Bank Rules in Foodics Accounting

The system allows you to create bank rules for your POS through the Bank Rules section to:

• Save time and effort
• Ensure accuracy of accounting entries
• Match the correct accounts with the bank statement

Bank Rules Page Overview:

It includes:

• Bank and Cash Transfer Rules used for revenues

• 

• Expense Rules used for bank fees/commissions

Creating Bank and Cash Transfer Rules:

1. Select Add Bank Rule.
2. Apply the bank rule:
   • The system matches the description in the bank statement by selecting All conditions match.
   • Rule Field: Description
   • Condition: Choose Contains
   • Value: Set the description from the bank statement (conditions depend on the bank statement transactions).
3. Create a transfer between banks and cash:
   • Choose the bank account to transfer to.
   • (Optional) Choose tracking / profit and cost centers.

1. Set the reference field for the rule.
2. Add rule details:
   • Select the bank where the rule will apply.
   • Name the rule.
3. Click Save.

Creating Expense Rules (for bank commissions):

1. Select Add Bank Rule.
2. Apply the bank rule:
   • Match the description in the bank statement by selecting All conditions match.
   • Rule Field: Description
   • Condition: Choose accordingly.
   • Value: Enter the description related to bank fees from the bank statement.
3. Select the Contact:
   • Create a contact for loading the fees (e.g., bank fees, bank).
4. Allocate items:
   • Distribute the expense across cost centers and tracking using percentage allocation.
5. Set the description.
6. Assign it to the Bank Fees account.
7. (Optional) Select the branch.
8. Set the reference field for the rule.
9. Add rule details:
   • Select the bank to apply the rule.
   • Name the rule.
10. Click Save.