Automate Bank Matching

Bank transactions arrive as raw data—a description that often looks like "POS DEBIT AMZN MKTP US*2X7K93," an amount, and a date. Turning this into a properly categorized, vendor-identified transaction in your books takes effort when done manually. Bank rules in FiscalInsights automate this translation by matching patterns in bank descriptions and applying your categorization preferences.

Rules work on text matching. If a bank description contains "AMZN MKTP" or "AMAZON," you create a rule that assigns the vendor as "Amazon" and the category as "Office Supplies" (or whatever's appropriate for your business). The rule can match on description keywords, exact amounts, amount ranges, or any combination. Once created, the rule applies automatically to every matching transaction—past and future.

The time savings add up fast. A typical business has 20-50 recurring vendors whose transactions appear in the bank feed regularly. Once you've created rules for each of them, the vast majority of your bank transactions are categorized, vendor-identified, and ready for approval the moment they import. Your review process shrinks from categorizing every transaction to just checking the exceptions—transactions that didn't match any rule.