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Managing merchant transactions effectively is crucial for accurate financial management, especially when dealing with recurring expenses tied to bank accounts or credit cards. Without proper transaction rules, financial workflows can become prone to inefficiencies and errors, leaving property managers frustrated. Whether it's categorizing subscription payments, allocating expenses for a property-specific cleaner, or ensuring accounting fields are correctly updated, manual management can be time-consuming and error-prone.

To simplify this process, Clearing introduces the “Rules on Transactions, by Merchant” feature, allowing users to automate transaction mapping, improve accuracy, and save time. This functionality helps ensure that every transaction is correctly categorized and tied to its appropriate transaction category, asset, and/or accounting responsibility, reducing the risk of errors and boosting efficiency.

The rules by merchant feature in Clearing empowers users to streamline financial workflows by automating transaction rules for all merchants listed in the merchant list. This automation ensures that transactions are mapped to the appropriate transaction category, assigned to relevant assets (if desired), and allocated to the correct accounting fields (such as owner charges, management charges, tax allocation, or security deposits).

By leveraging this feature, property managers and financial professionals can reduce manual intervention, minimize errors, and maintain precise financial management. Additionally, users can create new categories and apply transaction tags to enhance organization and reporting.

Log into your Clearing account and navigate to the “Rules” section. From here, select the “On Transactions” tab and click on “By Merchant”.

Clicking here will display the merchant list, showing all merchants identified through your bank account or credit card transactions.

Once in the merchant list, use the search function to locate a specific merchant.

For instance, if you want to manage Hulu transactions, type “Hulu” into the search bar. This will bring up that merchant, allowing you to focus on creating a rule tailored to their activity.

After identifying a merchant, the next step is to assign a transaction category. For example, if Hulu transactions are related to streaming, select “Streaming” as the category.

If a relevant category doesn’t exist, you can create a new category from the top-right corner. This flexibility ensures that every transaction is mapped accurately.

For merchants linked to particular assets, such as a property-specific cleaner who is servicing one property, assign the transaction to the respective asset. This feature allows you to tie expenses directly to their source, ensuring precise tracking and reporting.

Clearing allows you to allocate transactions to the appropriate "trust accounting" field. Options include:

Select the appropriate field to ensure that your financial records align with your accounting practices. To learn more about this, visit our dedicated help article: How to Use Clearing's Trust Accounting Field for Enhanced Financial Management

That’s it!

Clearing will automatically save the changes made to each merchant in the rule setup section, and automated categorization will now execute when the trigger of a specific merchant comes in with a transaction’s record.

Transform the way you manage merchant transactions with Clearing’s "Rules by Merchant" feature. By automating transaction mapping, you’ll save time, reduce errors, and provide owners with financial transparency.

Are you ready to simplify your financial workflows with automated transaction mapping?

Contact us today for a personalized demo and learn how to create & manage rules by merchant in Clearing!

Explore our comprehensive knowledge base today to dive deep into Clearing's features and embark on a journey to revolutionize your booking financial management experience.

Clearing is a Financial Technology Company, not a bank.