You can create rules to control how your transactions are categorised. For example, if payments made at a particular place are consistently categorised as “Personal Care” but you’d like them to live under “Healthcare/Medical”, you can create a rule to ensure that all matching transactions - past & future - are categorised accordingly.
To create a new transaction rule:
1. Find the transaction you want to edit, click on the category name and select your preferred alternative from the list.
2. A pop-up box will open, click 'Create a rule'.
3. Review the 'Description Contains' field to remove any transaction numbers or other variables that will help with selecting the appropriate transactions.
4. Select 'Any' for the 'From category' field to ensure the rule applies to ALL matching transactions, irrespective of how they may have been categorised in the past.
Alternatively, if you only want to recategorize transactions within a specific category, select the chosen category from the drop-down list.
5. Click 'more options' to enhance your Transaction rule.
6. In the more options area, configure the amount, the account/s and the date from as required.
This will allow a more specific rule to be created for greater accuracy.
7. In the second section of the rule ('Do the following'), you must decide where the transaction is going to be categorised from now on.
Click 'More options' to enhance your Rule placement.
8. Once 'more options' is selected, you can add a tax tag, remove all tags, hide transactions and split or change the ownership.
NOTE: Hiding transactions is perfect for those recurring transactions that you don't want to be visible in your cashflow, eg. Credit Card Payments (the receipt of this in the credit card account and the transfer amount from the savings or chequing account)
9. Click 'Next;' to create your rule. Your portal will remember this rule and apply it to all future matching transactions.