Reconciliation Rules & Rule Set (Intacct)
Creating a Reconciliation Rule is the best way to streamline the reconciliation process, as it allows you to automate it. These rules can either automatically map bank transactions to existing Intacct transactions or create new, appropriate Intacct transactions. If you try to reconcile without setting up a Reconciliation Rule and an associated Rule Set, you'll likely see errors such as:
- "There are no rules associated with the rule set."
- "Could not create banktxnrulerun record!"
- "Apply a matching rule set to this account before reconciling with an import or bank feeds."
Follow this guide to learn how to create Reconciliation Rules and Rule Sets needed to prevent or resolve these issues.
Create Reconciliation Rules & Rule Set
Create a Rule
Navigate to Cash Management -> Setup -> Reconciliation Rules -> Rules.
You are then able to create rules based on your preferences. You have two options:
- Match Rule: Automatically match banking transactions with existing Intacct transactions.
- Create Rule: Create Intacct transactions based on banking transactions.
Intacct requires you to create at least one rule.
As an example, you could create a rule based on the document number. This is particularly useful for any check payments made with the plugin, which will directly match based on the document number.
You can see an example below:
Once you have created the rule, hit Save.
TIP: You may also add a Filter Rule, which allows you to filter your transactions before applying a matching/creation rule. For more information about the rules and their capabilities, visit:
Please note that you cannot delete rules, but you can set them to inactive instead.
Apply Rule to Rule Set
Once you have created one or more rules, you need to apply them to a rule set.
Navigate to Cash Management -> Setup -> Reconciliation Rules -> Rule Set. You should then add the rules to an existing rule set (if any) or create a new one.
You can create a new one by clicking Add, and then adding the rule to that new rule set.
Hit Select Rules to add the rule you created in Step 1. Once you have added all the rules that you want, navigate to Step 3 below.
Add Rule Set to Bank Account
The final step is to make sure that the Rule Set is added to the bank account.
Still on the Rule Set page, where you create the new Rule Set (or add the rule to the existing one), navigate to the Account tab and select the accounts you want the Rule Set to apply to. You can select as many accounts as you wish.
When you are done, click Save at the top right.
You can now easily reconcile your accounts without errors, as your bank transactions automatically match with the corresponding Intacct transactions.