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.

In this article

Categories Overview

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 organize your categories.

Categorizing your transactions is especially important in order 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 Sam thinks he's spending too much, he can create a budget for this category to stay on track.

If you have a bank feed, it may be set to auto-categorize your transactions as they come in. If you'd prefer to stick with categories you have created, you can switch automatic categorization from the bank feed off


Category Rules

When you first get started in PocketSmith, it's best to categorize all of your transactions. It can be time-consuming to categorize each transaction one by one so it's a good idea to create category rules! Category rules work by remembering the merchant of a transaction and categorizing that transaction to a particular category. Once you've created a category rule, PocketSmith will automatically categorize any future transactions with that merchant title that matches your category rule. 

How to create a category rule

You can create category rules on the main Transaction page, or from the Categorize 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." You can edit the rule so that only the merchant name remains (Settings > Category rules, saved searches and filters), and PocketSmith can successfully match the right transactions to your categories.

For example: When editing a merchant, you can change a merchant that looks like this  'AMAZON AUS 1265235-00 04/26' to 'AMAZON'. Tidying up your rules in this way will ensure PocketSmith catches every transaction from Amazon!

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