Goodbye 'Regular transactions', Hello 'Smart Suggestions'

by Wes Hooper

8th February 2010

Published in: Updates

Moobiz has always tried to help you reconcile bank transactions which turn up every month - phone bills, wages, insurances and so on.

Before our new update, you had to give Moobiz a hand by setting up 'Regular Transactions' which gave us clues (for example, transactions with a description starting "DIRECT DEBIT TO BT" between -£50 and -£500 is probably "Phone bill") on how to create the entry in your Ledger automatically for you when reconciling.

While this did help save time, this was usually offset by having to setup the Regular Transaction in the first place and the form could be confusing to specify the amount ranges correctly with negative values for purchases.

We've now removed these Regular Transactions and introduced something much simpler - Smart Suggestions. These are presented in much the same way when reconciling but the suggestions are instead based on how you've reconciled similar bank transactions in the past.

For example, if last month you reconciled a transaction with a description of "DIRECT DEBIT TO BT" to a company "BT" for "Phone bill" and categorised it as "Office utilities", we'll suggest those details for you this time and just ask you to complete the new information such as date & amount.

Simples!

Over the next few weeks we'll refine the suggestions before further improving the reconciliation process to suggest remittances and help with receiving payments for invoices.