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Scott99Sam
Level 2

Bank Data changed since Open Banking

Before Open Banking, my RBS transactions came in with more info. All of my Rules are now not being recognised because of this. It just means recreating each rule with the new shortened info that the banks/QBO bring in.

 

For example, RBS used to feed in 
"SAYNOR JASON SAYNOR J D" under Description.

 

Now it comes in as "Saynor J D J" 

 

Note: you have to change the first field to 'Bank Text' instead of 'Description'.

 

Also the "Payee" field needs to filled in.

 

I wish QBO would have given us a heads up that all our Rules would need to be redone after Open Banking (1 April 2020) changed everything.

1 Comment
MaryAnn_E
QuickBooks Team

Bank Data changed since Open Banking

Hello there, @ Scott99Sam.

 

 

The description of transactions brought by open banking connections is different from your existing connection. You may need to update your bank rules to the new description.

 

You'll have to recreate each rule with the new description or edit them individually. Let me show you how:

 

  1. Go to your Banking menu.
  2. Click the Rules tab.
  3. Look for the rule.
  4. Under the Action column, click the down arrow beside Edit.
  5. Enter the new description require.
  6. When your done, hit Save.

 

You can check these articles for more detailed information and tips on how to use the Bank Rules features:

 

If you have other questions about managing your bank transactions. I'm always here to help.

 

 

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