Turning Automatic categorization from the bank feed on or off
When you connect an account via a bank feed, you have the option to enable automatic categorization, but you can change this at any time! Learn more about how automatic categorization from the bank feed works, & how to turn this feature on or off⚡️
In this user guide
About automatic categorization from the bank feed
Our main bank feed provider, Yodlee, gives us rudimentary categories for each transaction that it gathers from your bank. These provide a great starting point for many people!
However, as you get used to PocketSmith and set up your own categories you may wish to turn this off. This will stop your transactions from being assigned to categories created by the bank feed. If you would prefer the bank feed to no longer create new categories for you automatically, follow the steps in the following section Turning automatic categorization from the bank feed off and on. When turning this feature off, consider setting up Category Rules, and Filters to categorize future transactions the way that best suits you!
If you want to use a combination of the categories from the bank feed and your own, there are options to override particular bank feed categories. Learn more below in the section below: Overriding automatic bank feed categories
Automatic categorization for UK and EU bank feeds (Salt Edge)
Please note that automatic categorization for Salt Edge feeds is different to Yodlee's automatic categorization. You can learn more about automatic categorization from Salt Edge bank feeds here: Salt Edge: Automatic categorization option
What affects the quality of the categorization provided?
One of the largest factors contributing to the quality of categories created is the country associated with your bank feed. Merchants in the United States are categorized more accurately as the majority of Yodlee's connected banks are in the US.
Why unwanted categories keep appearing
- Uncheck the tick box Auto-categorize where possible upon first adding your bank feeds
- Follow the steps in the section Turning automatic categorization from the bank feed off & on
- Override particular bank feed categories
Turning automatic categorization from the bank feed off & on
Reasons to turn off automatic categorization from the bank feed
- You already have a well-established set of categories
- You find the categorization provided for your bank's transactions does not match your preference and you'd prefer not to use the override options
- Your requirements exceed what automatic categorization can offer
Turning off the automatic categorization from the bank feed won't turn off any Filters or Category Rules that you have created.
Turning automatic categorization on or off (Yodlee bank feeds)
The below instructions for turning automatic categorization on or off are for Yodlee bank feeds only.
If you would like to turn automatic categorization by the bank feed for UK and EU bank feeds on or off, which please see: Salt Edge automatic categorization option
In the purple toolbar, hover over the Edit bank feeds menu
Click on the bank feed for which you would like to change the automatic categorization settings
In the window that opens, choose Bank Feed Options from the left menu
Overriding automatic bank feed categories
Change the category name
Delete the category
Create new category rule or filter
Alternatives to bank feed categorization
One of the best ways to have control over your categorization is to use Category Rules. After applying a Category Rule to a transaction, that rule will apply to all matching uncategorized transactions as they are imported into PocketSmith, assigning categories for you and making categorization quick and easy!