Categories & Category Rules
Categories are the link between your transactions and budgets. They help you break down your earning and spending into different areas. Category Rules allow you to automatically categorize your transactions.
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As your transactions come in, they'll need to be assigned to meaningful categories. Use the Categories page in PocketSmith to set up, edit and
Categorising your transactions is especially important if you wish to understand your spending habits, or if you're wanting to create budgets.
For example: Sam creates a "Dining out" category to keep track of what he's spending on dining out. He categorizes all transactions from restaurants and cafes to his 'Dining out' category. This means it is now easy for Sam to check out how much he is spending on dining out! If he thinks he's spending too much, he can create a budget for his 'Dining out' category to help him stay on track.
If you have a bank feed, it may be set to auto-categorise your transactions as they come in. If you'd prefer to stick to categories you have created, you can switch auto-categorisation off.
- Adding new categories
- Change the category order
- Creating sub-categories
- Editing a category
- Deleting a category
- Refund behavior options
- Change the refund behavior for a category
- How do I hide or stop a category from being displayed?
- Stop new categories from automatically appearing
Category Rules Overview
When you first get started in PocketSmith, you'll have loads of transactions that need categories. It is time-consuming to categorize each transaction one by one. It's a good idea to create category rules to remember certain merchants and categories those merchants belong to. PocketSmith can then automatically categorize transactions based on your category rules.
How to create a category rule
Create category rules on the main Transaction page, or from the Categorise Items page. Select a category for a transaction and look for the checkbox that says "Make this a category rule." PocketSmith will take a copy of the merchant name for the rule, but sometimes this needs to be edited to exclude things like the transaction time, date and words like "EFTPOS." Edit the rule so that only the merchant name remains, this will help PocketSmith successfully match all transactions to categories.
For example: When given the option to edit the merchant being remembered, change a merchant that looks like this 'AMAZON AUS 1265235-00 04/26' to just: 'AMAZON'. Tidying up rules like this will ensure PocketSmith catches every transaction from Amazon without issues.