The possible reason why banking rules do not apply to deposits categorized as sales receipts is that it could be due to unmet established conditions.
You'll need to check the following:
- The Bank text if you have the same information received from the bank.
- The Description is a simplified version of the bank text to make it easier to understand.
For detailed guidance on how to use bank rules to automatically categorize transactions from your bank, refer to this article: Set up bank rules to categorize online banking transactions in QuickBooks Online.
Once you have everything set up, you can test the rule to see if it is working correctly. If the problem continues, I suggest deleting and recreating the bank rules. There may be data corruption preventing the rule from saving correctly.
Here's how:
- Go to the Banking/Transactions menu, then select Rules.
- Find the rule that isn't working.
- Click the drop-down arrow under the Action column, then choose Delete.
- Select Yes to confirm.
- Once done, recreate the rule.
You can also want to learn more about categorizing and matching bank transactions in QuickBooks Online. These help you put your downloaded transactions in the correct accounts.
Need help managing your books? Our QuickBooks Live Expert Assisted team has your back. We have dedicated bookkeepers that can assist you with streamlining your accounting processes.
If you require further assistance with your bank transactions, please leave a comment below.
