How To Create & Use Renaming Rules For Bank Feeds In QuickBooks Desktop

Here we will discuss how to create and use renaming rules for Bank Feeds in QuickBooks Desktop, also discuss how to fix common issues with the renaming rules for bank feeds. Before proceeding further, you need to know the following points:

  • Renaming rules are only accessible when you are using the Express Mode (also called the Side-by-Side mode in prior versions of QuickBooks Desktop).
  • If you are using the Classic Mode, use payee aliasing instead of Renaming rules.
  • Renaming rules are company file-specific.

Create and Use Renaming Rules For Bank Feeds In QuickBooks Desktop

Steps to create a renaming rule

  • Go to the Banking menu, then click on Bank Feeds and look for the Bank Feeds Center and click on it.
  • Next, click on Rules in the Bank Feeds window.
  • Now, go to the Rules List window, click on Manage Rules drop-down, and later, click on Add New.
  • Next, look for the Add Rules Details window, and give a Rule Name.
  • Now, go to the Description drop-down, here you need to make a selection and in the Description field, now, enter a word or phrase you need to use as the condition for the rule. If you require to create more conditions, click on + button.
  • Later, go to the Do This section, make the relevant selection from the drop-down and also related to your selection, insert the Payee name or the Account name.
  • Now, click on Save.

Steps to modify a renaming rule

  • Go to the Banking menu, then click on Bank Feeds and look for the Bank Feeds Center and click on it.
  • Next, click on Rules in the Bank Feeds window
  • Now, go to the Rules List window, and look for the renaming rule that you require to change.
  • Later, go to the Action column, go to the drop-down and click on:
    • Edit Rule: If you want to modify the details of the rule. Then first make suitable changes and then select Save after modification.
    • Delete Rule: If you want to delete the rule. First, look for the rules that you want to delete and click on delete, when pop-up prompt on your screen click on 

Steps to add transactions with renaming rules

When you download transactions in your bank feed, they are usually classified as:

  • Matched (Auto): The downloaded transaction is related to the one you entered in this account register in QuickBooks
  • Unmatched (Need Your Review): The downloaded transactions do not match any of the transactions in this account in QuickBooks.

Now check out the below steps to add transactions using renaming rules:

  • Click on the transaction and mark the box below the Need Your Review option.
  • Now, allot the relevant payee and account.
  • Now, go to the Action drop-down, and click on Quick Add.
  • Next, click on the Rule Creation window that prompts on your screen, then click on OK.
  • The transaction will be marked changed by rules.
  • If you want to add transactions to your register, then click on the CHK category and next go to the Batch Actions drop-down, and click on Add/Approve.

Common issues and Solutions

Transactions were renamed with the incorrect payee

This error happens when your downloaded transactions have general names or information like “Check,” “Payment,” or “Online transfers.” QuickBooks generates rules when you enter or add the transactions when applies them to the leftover unmatched transactions.

How to Fix this error?

As compare to Quicken, QuickBooks does not have a reverse naming rule feature. Though, you have two choices to restrict transactions with incorrect payments (or accounts).

Method 1: Choose to manually create renaming rules

This method limits QuickBooks from automatically generating rename rules when you are using the Express mode.

  • Open QuickBooks and go to the Edit menu, next, click on the Preferences.
  • Next, go to the left pane, click on Checking, and next, look for the Company Preferences tab and click on it.
  • Now, go to the Bank Feeds section, Here you need to uncheck the following boxes:
    • Create rules automatically: When you unmark this option then QuickBooks will not create an automatically renaming rule every time when you add a transaction.
    • Always ask before creating a rule: When you unmark this box then QuickBooks will send you a pop-up every time to review the renaming rule before it is created.

Note: As QuickBooks will no longer generate rules as you add transactions to your register, you need to manually create rename rules. Also, you will have to edit/delete any incorrectly created rule to avoid problems during downloading future transactions.

Method 2: Switch to the Classic (Register) Mode

Check out the below steps to switch between Bank Feeds modes:

Before switching modes, make sure that QuickBooks Desktop is updated for the latest release and that you are using single-user mode.

  • Open QuickBooks and click on the Edit menu, click on Preferences.
  • Next, go to the left pane, click on Checking, and next, click on the Company Preferences tab.
  • Later, go to the Bank Feeds section, you can click on either
    • Advanced Mode: It uses the Transaction List window to add or match a transaction list. You can instantly update the transactions for future matches or create rules to automatically identify and match transactions from your books.
    • Express Mode: It utilizes the Transaction List window to add or match the transactions. The Renaming rules become automatic.
    • Classic Mode: It utilizes an account register to add or match transactions. Aliases actually match names and you control when alias names are created.
  • Click on OK.

How to fix the transactions that were already renamed and added with the inaccurate payee?

You have two options to fix the transactions that were already renamed and added with the inaccurate payee.

Option 1: Correct manually every transaction

  • First, go to the Bank Register.
  • Next, click on the transaction and then modify it with the right payee or account.
  • At last, save all your update changes.

Option 2: Restore a backup

If you made a backup copy of your company’s file before entering/adding the downloaded transaction, you can restore the backup company file and start over.

Renaming rules are not designed for deposit transactions

At present, the renaming rules will not apply to money transfer and deposit transactions. To automatically match deposits, you must switch to classic (register) mode and utilize the payee aliasing function.

Here, are the steps to use Payee Aliasing Function

  • Go to the Help window, to open help window, press F1 on your keyboard.
  • In the Help search field, insert payee aliasing.
  • Click on every of the given links to support articles about payee aliasing

Some Errors you may encounter while renaming the rules

Error: Unhandled exception while editing a renaming rule in online banking

While editing a renaming rule, you may encounter the error: Unhandled exception has occurred in a component in your application. If you click Continue, the application will ignore this error and attempt to continue. There is no row at position X.

This error occurs due to Microsoft.NET Framework 3.5, maybe because of damaged or not properly installed on your computer. Learn how to fix manually Microsoft .NET Framework errors.

Error: GetQBAccountSpecialType while using the Batch Action

Error: GetQBAccountSpecialType, An unknown QuickBooks account that was used mostly occurs due to the damaged renaming rules.

To fix this problem, you have to delete and recreate all the Bank Feeds rules. Go with the below steps

  1. First, create a back up of your QuickBooks company file.
  2. Next, go to the Banking menu, and click on the Bank Feeds and later click on Bank Feeds Center.
  3. Click on Rules.
  4. Tick the checkmark box on the left side of Rule Name to choose all existing rules.
  5. Later, click on the Manage Rules and click on the Delete Selected.
  6. Click on Yes to confirm.
  7. You can also try to use batch action. If you don’t want to face this issue again, then you have to recreate the renaming rules.

Error: LVL_SEVERE_ERROR–XML parsing error while loading the Online Banking rules

When trying to bring up the rules window, sometimes instantly generates an exception error and shows never displays the rules form. This error occurs because of the ampersand (&) in the list item of either the Vendors or Other Names list.

Here are the steps to fix this issue:

  1. First, go to the Vendor Center.
  2. Look for the Search field, insert the ampersand (&) character, and hot on the Search button.
  3. Go to a particular name that consists of the &, edit and removes the ampersand (&) and change it with “and”.
  4. Go with the same steps for other names list.

Hope, this guide on how to use renaming rules for bank feeds in QuickBooks Desktop will be helpful for you. If still, you have issues, queries, and confusion regarding the same then feel free to contact us and directly connect with our Intuit Certified ProAdvisors and get instant help with all queries.

How To Create & Use Renaming Rules For Bank Feeds In QuickBooks Desktop 1


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