How to Set Up Automation Rules in Cryptoworth
Step-by-Step Guide to Setting Up Automation Rules
Automation rules in Cryptoworth allow you to classify transactions automatically, saving you time and ensuring consistency. Follow this guide to configure automation rules and streamline your workflow.
1. Understand the Purpose of Automation Rules
The Classification Column on the Transactions page is where you manually classify transactions.
Automation rules can help you save time by classifying thousands of transactions based on criteria such as:
Transaction Tags (automatically generated by Cryptoworth).
Wallet Addresses (destination or origin).
Address Book Contacts.
Contract Methods or IDs.
2. Navigate to the Automations Section
Go to Subleder in the sidebar menu.
Select the Automations tab.
3. Create a New Automation Rule
Click the Classification Automation button in the top-right corner.
Choose the Scope: Apply the rule to the entire entity or specific connections.
Example: Choose Entity for a global rule.
Name the Automation Rule: Example: "Transaction/Gas Fees."
4. Define Automation Criteria
Select Criteria: Choose from various criteria options.
For this example:
Select Transaction Tag.
Use the tag Fees, which is automatically applied by Cryptoworth for network fees.
Optional Refinements: Add secondary conditions if needed for more specific rules. Skip this step if unnecessary for the chosen tag.
5. Specify Classification
Update the Classification Field: Select the appropriate classification for the transactions.
Example: Choose Crypto Fees for transactions tagged as fees.
Simply: "If the Transaction Tag is Fees, then classify it as Crypto Fees."
Optional: Automate labels in addition to classifications for added organization.
6. Confirm and Activate the Rule
Review the rule configuration to ensure accuracy.
Click Next and confirm the rule:
Example: "If the Transaction Tag is Fees, then classify it as Crypto Fees."
7. Apply the Automation Rule
You can apply the rule in two ways:
Sync Connections: When you sync wallets or connections, the rule automatically applies to the latest transactions.
Run the Rule Manually: Go back to the Automations section, click the dropdown next to the rule, and select Run Rule.
8. Verify the Results
Go to the Subledger > Transactions Page and refresh if necessary.
Confirm that the transactions meeting the criteria are classified correctly.
Example: Network fees are now classified as Crypto Fees.
What’s Next?
With automation rules set up, your transactions will be automatically classified as they sync into Cryptoworth. The next tutorial will guide you on syncing journals to your main general ledger for seamless reporting.