This feature is one of the main feature of the application and it’s free!When a transaction is synchronized into Bankin’, it’s automatically stored in a dedicated space with other operations of the same category.
Example: All your supermarket transactions (whatever grocery shop you’re going) are classified in the category "Food & Restaurants" then "Supermarket / Grocery".
Remember to select the accounts you want to follow by clicking on the small list at the top of the Categories tab of your application.
Categories allow you to view the total of incomes (salary, refund, savings). By clicking on "Revenues", you can see all transactions classified according to their category. It is also possible to change manually the category of each of these operations if you wish.
All the expenses are gathered into categories too. Each category contains:
- Percentage of the specific category compared to the overall expenses
- Number of transactions
- Total amount spent
By clicking on a category, you will find several sub-categories (this makes possible to refine the categorization of expenses).These two levels of analysis will allow you to optimize the management of your account(s) on a daily basis.
Bankin’ constantly learns to categorize better transactions. However, some of these can still be unknown to us and so they will be sorted into the Uncategorized category located at the top of the Categories tab. You’re then free to sort each of them into the sub/category if you want.
Once this is done, the next similar transactions will automatically be folded in the same category.