Introducing split rules
Efficient management of incoming payments is crucial, especially when transactions need to be distributed across multiple accounts. Split rules simplify this process by automatically distributing amounts based on predefined criteria. These rules are especially useful for handling complex transactions such as foreign payments and returned direct debits, where charges need to be separated in bank statement lines. By automating this distribution, split rules save time and reduce the risk of manual errors. You can also use split rules to allocate payments across different cost categories, such as leasing contracts that include multiple components (for example, insurance and maintenance fees). This ensures accurate posting to the correct G/L accounts and dimensions.
In short, split rules can:
- Distribute payments across different accounts and account types.
- Assign custom posting groups.
- Apply specific dimensions to transactions.
- Distribute charges depending on currency, debit/credit indicator, and charge types.
To learn more about split rules and how to make the most of them, see:
- Setting up split rules - learn how to create and configure split rules.
- Applying split rules automatically - discover how to automate the application of split rules.
- Applying split rules manually - find out how you can apply split rule manually when needed.
- The split rule fields - get detailed information on the fields and options available for split rules.