Auto Code is an AI-powered tool that does your accounting for you. Quick, smart, and powered by AI, Auto Code instantly picks the account code for every transaction in your bank import.
You can use Auto Code in two ways:
1) Auto Code - bank import: Use the import wizard to import a CSV bank statement and explain it right away
2) Auto Code a bank statement: Use Auto Code on a statement that was imported earlier, for example via a bank feed or an earlier CSV import.
1) Auto Code - bank import
Import a CSV bank statement, and Auto Code can code your transactions for you, creating PAY or REC transactions.
You can use Auto Code for bank imports from the following places in Clear Books:
- Tools > Import > Auto Code - bank import
- Money > Bank Accounts. Then click the button “Auto Code - bank import”
- Money > Bank statements > Import statement. Then click on “Auto Code - bank import”
To import and Auto Code a CSV bank statement, follow these steps:
- Upload the CSV file of your bank statement
- If necessary map the columns of the statement
- Click Confirm to go ahead with Auto Code. Auto Code will explain all transactions in the statement, and create PAY or REC transactions.
- You will be shown a result screen that lets you see the transactions that were created.
2) Auto Code a bank statement
You can use Auto Code to explain a bank statement that you have already imported, for example using a bank feed, or one that you imported by CSV earlier.
To use Auto Code on a bank statement, follow these steps:
1. Go to the statement you want to code. You can do this from Money > Bank Accounts, then click “Code” on the statement, or use a shortcut link from the dashboard.
2. When viewing a statement to code, scroll up to the top of the screen and click on “Auto Code this statement.” Auto Code will Code all unexplained transactions in the statement, and create PAY or REC transactions.
3. You will be shown a result screen that lets you see the transactions that were created.
View the transactions that have been created
After Auto Code creates all the new transactions from your bank statement, you can see how many transactions were created, and view all the transactions in the date range of your statement, so you can see all new and any existing transactions in your account. You can also use any report to see your business performance including all transactions.
If necessary, you can edit any of the individual transactions.
FAQ
Q: How many transactions can Auto Code work on at once?
A: Hundreds. As an example, several hundred transactions will be processed by Auto Code in a matter of seconds.
Q: Does Auto Code work for bank statements imported using a bank feed?
A: Yes. Any bank statement can be explained using Auto Code, including those imported by a bank feed, a CSV import, or one that has been manually recreated. When explaining the statement, you can use the button at the top of the explain screen to Auto Code all unexplained transactions in that statement.
Q: Can I edit transactions Auto Code has created?
A: Yes, you can edit each transaction. You can do this one-by-one, or by using our Power Editor.
Q: What is the “Default Contact”?
A: Auto Code assigns every transaction to a single contact called “Default Contact” to speed up entry. You can edit any transaction to change the contact. We are working to add support for Auto Code to choose the right contact rather than using the default contact.
Q: Does Auto Code match payments to bills and invoices?
A: No, Auto Code doesn’t allocate payments to invoices or bills yet.