open banking

You can create Bank Rules to categorize the correct GST rates for bulk transactions. Before proceeding, I suggest reviewing your Account History first to avoid duplicate posting in your Chart of Accounts.

Please know that switching to an open banking feed in QuickBooks Online automatically re-downloads transactions from your old feed back into your Pending tab. It doesn't mean that they're unlinked from the Account History.

Once a transaction is recorded in your Chart of Accounts, it remains permanently linked and cannot be unlinked unless you remove or undo it from the Account History.

Here's how to create a Bank Rule:

1. Click the Accounting tab from the All Apps section.
2. On your Bank Transaction screen, click the ▼ dropdown arrow under the Action column.
3. Select Create rule.
4. Enter a name for your rule and select Money in or Money out from the Apply this to transactions that are ▼ dropdown.
5. Fill in the required details: Transaction type, Category, Product/Service, Payee, GST, and Customer.
6. Select the Save button once done.

I've included this article for more information about bank rules in QuickBooks Online: Set up bank rules to categorise online banking transactions in QuickBooks Online.

Please add your response below if you need any further assistance.