Categories
The transaction category defines a class of spending or income. Money has many built-in categories, and for accurate finance tracking, it is important to assign proper categories for all transactions, as the accuracy and level-of-detail for reports and budget rely heavily on transaction categories.
Three types of categories in Money:
- Income – salary, bonuses, dividends, allowances, interest income, etc.
- Expenses – food, rental, entertainment, clothing, travel, etc.
- Transfer – transfer of funds from one account to another.
Many categories contain subcategories. A subcategory is used to provide further details to a transaction for accuracy. For example, an expense categorized as “Automobile” may have subcategories like oil, gas, service, repair, parts, etc. New categories can be created when adding a transaction.
Manage categories and subcategories
Categories can be entered when creating or editing transactions on the go. If the item you type in the category field does not exist, you can create a new category.
For complete management of categories and subcategories, go to Preferences > Categories.
Add a new category or subcategory
To add a new category in preferences, click the Add button, a new category will appear in the list. Enter a name for your category.
To add a new subcategory, find the option “+ Subcategory” under each category in the category list.
Edit categories or subcategories
You can edit categories and subcategories in preferences by clicking the Details button on the right of the list by each category and subcategory.
A category/subcategory edit popover will appear. Click on the icon to change the icon. Click on the name to edit the name. Below the name there is dropdown list of categories in case you want to change the item’s parent category.
Merge categories
If you would like to merge multiple categories or subcategories to be reflected as one, you can use the merge feature.
Select multiple categories or subcategories by holding Cmd and clicking in the list in Preferences > Categories and ctrl + click on them. Select Merge Selected.
This will merge selected categories into one and make appropriate changes in existing transactions.
Delete categories or subcategories
Select a category or subcategory you wish to delete (hold Cmd while clicking to select multiple items).
Click the “-“ button on the bottom of the category list.
or
Ctrl + click on the selected item(s) and select Delete.
or
Press Backspace.