Tactic Tips
Nov 10, 2022

Tactic How-To: Using Rules to Save Your Business Time

Categorizing transactions one-by-one is extremely time-consuming. Tactic's Rules Engine does the work for you!

Sanjay Iyer

What Are Rules?

When reconciling transactions in Tactic, users must choose a category for each transaction that will directly impact how it is synced to your general ledger. 

Rules in Tactic use “if-then” logic to apply categories to transactions in bulk. You can apply rules by wallet, by date, by asset, or any other piece of transaction data that Tactic pulls directly from the blockchain to automatically apply categories to transactions.

Why Use Rules?

Categorizing transactions one-by-one is extremely time-consuming. Companies that hold or transact with digital currencies already face a complex cryptocurrency accounting process, and rules are an easy way to streamline it.

Specifically, companies using Excel or a software that doesn’t apply rules correctly, would need to implement a manual categorization process to make sure journal entries for digital assets end up in the correct place in the chart of accounts. This type of process would need to take place every time there was a new transaction.

How to Use Rules

You can create a Rule in Tactic in the “Rules” tab. Give your rule a name, choose the parameters you want your rule to be based on and then finally the category or memo you want applied to the transactions impacted by the rule.

Rules can be set based on any paramenter. Set rules to automatically categorize or add a memo to transactions in bulk.

Rules are only applied to future transactions by default to avoid modifying already-reconciled transactions, but you can choose to apply rules to historical transactions by clicking the check box when making a rule.

Rule Prioritization

It can be possible for more than one of your rules to apply to an individual transaction. To ensure that the appropriate rule and category is applied, edit the priority of each rule by dragging and dropping your existing rules to re-order them from highest priority to lowest priority, so the highest priority rules will take precedence over lower priority rules.

Setting rule priority is as easy as dragging between rows.

Why it Matters

Tactic users utilize “Rules” to categorize transactions in bulk. Creating comprehensive and efficient rules enable businesses with even the most complicated crypto use cases to save time while using Tactic. Sign up to book a demo and start using “Rules” to categorize your crypto transactions with Tactic