Top 9 Rules to Automate Cash Management

Purpose:

While banking activity can vary based on the vendor and how the transactions clear the bank account, there are simple rules that can be created to reduce time-matching transactions and increase the automation of RASI Cash Management. Below are 9 rules that can be set up to increase automation and efficiencies within the Cash Management platform.

#1 Payroll Direct Deposit

• External Transaction: Will show with the Organization Name and will clear the bank the date before the check date.
• Profit Center: Will show as Payroll Direct Deposit with the check date.

#2 Cash Deposits

• External Transaction: Will show with an indication of Deposit.
• Profit Center: Will show as Cash/Checks.

#3 Merchant Deposits

• External Transaction: Will show with the total merchant deposit amount
  • NOTE: Weekend deposits could clear together. Creating a rule allows you to use one-to-many to match these deposits.
• Profit Center: Will show as VISA/MC/DISC. AMEX will either be included with the other merchants or will be listed separately.
• If the merchant takes fees out of the deposit, use the percent threshold to set up a match allowance.

#4 Main Food Vendors

• External Transaction: Will incorporate the vendor name in the description. Remove any date, invoice, or order number information when recreating the rule.
• Profit Center: Will show the name of the group vendor.

#5 Online Purchase Vendors (ex. Amazon)

• External Transaction: Will incorporate the vendor name in the description. Remove any date, invoice, or order number information when recreating the rule.
• Profit Center: Will show with the name of the group vendor.

#6 Miscellaneous Deposits

• External Transaction: Will display based on the description provided from the bank. Remove any date, invoice, or order number information when recreating the rule.
• Profit Center: Will display the description when entering a Misc. Deposit. It is important that the names are consistent when entering Misc. Deposits to ensure that they match.

#7 Tax Payments

• External Transaction: Will show the name of the tax entity and/or a brief description of what the tax is for.
• Profit Center: Will list the name of the tax entity (such as IRS or state/city/county payee).

#8 Triple Nets (Phone/Cable/Internet)

• External Transaction: Varies based on the vendor. Typically incorporates the vendor name in the description. Remove any date, invoice, or order number information when recreating the rule.
• Profit Center: Will show with the name of the group vendor.

#9 Transfers Between Accounts

• External Transaction: Will display based on the description provided from the bank. Remove any date, invoice, or order number information when recreating the rule.
• Profit Center: Will display the description when entering a Misc. Deposit.