The different ways to categorize your transactions
Keeping your transactions categorized is super important in order to understand your earning & spending and to track your budgets! There are a few ways to keep on top of categorization. We recommend setting up category rules to categorize the bulk of your transactions, but check out all the options below ✨
In this user guide
Categorizing your transactions on the Transactions page
From the toolbar
- Head to Accounts > Transactions
Select the checkbox beside the transaction(s) you want to categorize
To categorize your transactions in bulk, you can tick the checkbox for more than one transaction at a time before you apply a category!
Category from the toolbar and choose a category from the drop down menu or type a new category and click
Create category: [category name]
Within a transaction card
- Head to Accounts > Transactions
Select a transaction, then under the category field select a category from the drop down menu or type in a new category and click Create category: [new category name]
Edit settings for newly created categories
If you've just created a new category, you can edit the settings for this category by clicking on the 'New category' pop-up that shows in the bottom left corner. Just click on Edit category settings to set the category type, or set the category to be a transfer category or a bill/scheduled income category.
If you'd prefer to do this later, just click Not now. You can always edit your categories from the Categories page (Settings > Categories) instead.
For more detail on editing category settings please see: Editing & deleting categories
Categorizing your transactions on the Categorize Items page
- Head to Accounts > Categorize items
Under the category field select a category from the drop down menu or type in a new category and click Create category: [new category name]
Save & continue
We've got more details about the Categorize Items page here: Using the Categorize Items page
Categorizing your transactions automatically with Category rules
Category Rules let PocketSmith do the heavy lifting 💪🏽 for you when it comes to getting your transactions categorized. With Category Rules, you're able to set up your PocketSmith account to automatically categorize transactions just they way you like. This means less time spent manually categorizing your transactions - yay!
You can find out all the details here: Using Category Rules to automatically categorize transactions
Categorizing your transactions automatically with Filters
Filters allow greater control over your transactions than category rules - you can use Filters to automatically assign categories as well as make other edits to organize your transactions just the way you like! Unlike category rules, a filter lets you set multiple parameters to isolate a group of transactions, which you can then apply multiple changes to.
Consider using filters for transactions that you'd like to apply more than one action to (other than just a category) 👌
You can find out all the details here: Everything you need to know about filters
Using automatic categorization from the bank feed
You can choose to have your transactions automatically categorized from the bank feed if your accounts are linked to bank feeds. Some people like to use a combination of automatic categorization from the bank feed, along with their own caregory rules!
Learn more about how automatic categorization from the bank feed works, and how to turn this feature on or off, here: Automatic categorization of transactions from the bank feed and how to turn it on or off