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Bank Statement Transaction XBert
Bank Statement Transaction XBert

For monitoring unusual transactions.

Jhanav Lakhiani avatar
Written by Jhanav Lakhiani
Updated over a week ago

Why should I monitor my transactions?

There are many reasons why this should be a priority for you and your business.

Monitoring unusual transactions is essential to prevent fraud, correct errors, and comply with financial regulations. It helps identify security weaknesses, ensures accurate financial records, and protects assets, which is critical for effective financial management and maintaining trust in personal or business finances.

That's not all, it's also good for budgeting, operational integrity, enhancing investor confidence, ensuring tax correctness, and managing financial risk. It provides valuable insights into business trends and strengthens internal controls to prevent internal fraud. By keeping a close watch on financial activity, individuals and organizations can make informed decisions and uphold financial security and accountability.

Fortunately, we've simplified this process, making it easier for you.

How do I set up this XBert?

  1. From your CONNECT portal, go to the Automation board and click on the third navigation option, 'User Created Types' on the left-hand side.

  2. Click on the 'Bank Statement Transaction Rule Detected' XBert.

  3. Click on +Add to start making your rule.

  4. Here, you can set a name, conditions and actions for the rule you create.

    The conditions you can set for your rule include:

    • Bank Statement ID

    • Client

    • Bank Account Name

    • Bank Account Currency

    • Amount

    • Description

    • Reference

    • Is Reconciled

    • Source

    • Balance

    • Creation Time

    Once you set a condition, you must select an operator and value.

    The operators you can set are:

    • greater than

    • greater than or equal to

    • less than

    • less than or equal to

    The value you set is the target our automation will look for depending on the operator you set.

    The actions you can set for your rule are:

    • Set status to - Select the status for the XBert when created.

    • Assign to - User or Role the XBert is assigned to when created.

    • Snooze for - Duration you want the XBert snoozed for when created.

  5. For example, I created a rule to make XBerts for payments above 350 based on my previous transactions in my Ledger.

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