What action occurs first when bank rules are processed in QuickBooks?

When processing bank rules in QuickBooks, the initial action involves analyzing the incoming transactions to find matches based on the specified criteria in the bank rules. This is essential because the purpose of the bank rules feature is to automate the categorization of transactions by identifying those that fit predefined parameters, such as amounts, payees, or transaction types.

By looking for matching transactions first, QuickBooks can efficiently categorize these transactions according to the rules set by the user. This process optimizes workflow, as it reduces the time spent manually reviewing and entering categorization details for each transaction.

The subsequent actions—such as applying a default category, sorting transactions by date, or assigning customer/vendor names—would occur only after the matching transactions have been identified. Thus, starting with the matching process is logical, as it forms the foundation for any further processing or categorization that needs to happen.