Pandle Introduces Bank Rules
At Pandle we’re constantly working on ways and means to automate the mundane and repetitive tasks bookkeepers and accountants face. As well as striving to keep bookkeeping intuitive, user-friendly and efficient for clients and accountants to effectively manage their accounts.
Additionally, accuracy is at the forefront of Pandle’s mission. For when handling transactions, the less reliant a piece of software is on user input, the less chance of manual inaccuracies occurring.
Today, we’re pleased to announce the release of our latest features: Bank Rules, and Auto Confirm.
What Bank Rules means for you
Our bank rules feature allows you to automatically apply selections to transactions based on certain conditions.
These conditions can include:
- If the money is in or out of a bank account
- The description, exact or contains
- The amounts, less than, equal or greater than
Actions based off these conditions outcomes can include:
- Setting the category
- Setting the VAT code
- Setting the project
Simply apply conditions when creating a Bank Rule to structure transactions. The process prevents you from having to manually categorise and add VAT treatment to each transaction that is imported into Pandle via Bank Feeds and File Uploads.
Bank rules can be applied to multiple bank accounts in Pandle, so if you have similar transactions in multiple accounts then one rule can cover them all.
Auto Confirm – minimise user-input further
Our Auto Confirm feature is an industry first; Pandle is the first cloud-based accounting software to automate bank transactions without user intervention.
We’ve created our Auto Confirm feature, to minimise the amount of user-input required after transactions have been imported.
Essentially, this means that a significant portion of bookkeeping can be completely automated in the background without any human intervention. Accountants will need not return from meetings to a backlog of transactions that require attention, as going forward, Pandle will take over the time-consuming tasks.
Be notified with updates on transactions
Pandle will notify you so that you know which transactions have been auto-confirmed and which still require your input.
Ideally, accountants will eventually Auto Confirm all transactions, so that they never need to Check and Confirm imported transactions.
However, if you do have a query regarding an Auto Confirmed transaction, or simply want to double check on your automated Bank Rules, head over to your Automatically Confirmed payments via the Confirmed tab.
We’re currently working on our second phase of bank rule developments which will go even further, bringing more automation to your workflow.
Further releases will allow you to automatically ignore transactions so that accountants can mitigate the likelihood of duplicate transactions, match customer receipts and supplier payments with invoices, and much more.
To find out more about how Bank Rules and Auto Confirm work, then catch us on live chat at pandle.co.uk or email [email protected]