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What are External Categories?
Whenever new transactions get added into your ledger through any of your connections, we try our best to categorize them based on the information we receive from your bank. Nonetheless, these categories might not actually be accurate. For example, you could end up with both Uber Ride and Uber Eats transactions categorized under the same "Transportation" categories whereas the latter would make more sense to be categorized as "Delivery". External Categories should mostly be seen as a hint towards where your transactions should go but not as a last destination. Our recommendation would be to create your own categories in a way that fits how you look at your finances. See: Accounts & Categories
Why are my Venmo connections showing twice?
When you have a $0 balance in your Venmo account and you make a payment using Venmo, There are actually two separate transactions happening. The first is the money moving from your checking account into your Venmo account, and the second is that money being paid out. Currently it is being displayed on your transaction history like this: https://downloads.intercomcdn.com/i/o/150579212/9f5c454478ceccca87d2462b/Double+charge2.png What this means for your overall reporting is that it appears the money is leaving your accounts twice: Checking > Venmo = -$134Venmo > Fitness = -$134 In reality, you want the money to show as leaving your accounts only once. To resolve this currently, you will want to create a new category called Transfer/Venmo. We are going to reassign all Checking > Venmo transactions to this category. Create a new category called 'Transfer/Venmo' https://downloads.intercomcdn.com/i/o/150581620/a3a7cb39b71ce34d720b0667/Screenshot+2019-09-23+13.09.09.png 2. For each transaction that is Checking > Venmo, change the category to 'Transfer/Venmo'. You can also edit multiple transactions all at once using the Omnibar.
How can I create my own accounts or categories?
There are several ways to create your own accounts and categories. From anywhere on the app Press CMD then K to open up the Omnibar. If you're looking to create an Account (aka Assets & Liabilities), select 'Create new asset / liability account...' To create a new category (aka Income & Expenses), select 'Create new income / expense account...' https://s3.us-west-2.amazonaws.com/secure.notion-static.com/8c30cd13-3a39-4212-8083-ee4fb55859e8/Screen_Shot_2020-04-13_at_4.54.16_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T055807Z&X-Amz-Expires=86400&X-Amz-Signature=649ae3c29619a8eb1894764d9a665ec377026ca3905a98a6283cc9e32288aabf&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_4.54.16_PM.png%22 Once you have selected the corresponding action, name your new account accordingly and press the Enter key to create a new account. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/e87ed861-005f-47af-8297-eb2110e971b0/Screen_Shot_2020-04-13_at_4.58.38_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T055844Z&X-Amz-Expires=86400&X-Amz-Signature=9cf2f8c3d9069c03d35b8bbf95c7444a51df8bc3096413efbccbaf779df79da5&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_4.58.38_PM.png%22 Hint: You can nest accounts by adding a slash (/) between group names and account names From a transaction Whenever you are adding a manual transaction, you can create new accounts when categorizing your transaction's postings and clicking on the '+' icon that will appear. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/fbdd31ab-3bca-4cd1-8bdb-d3787d5a2331/Screen_Shot_2020-04-13_at_4.14.48_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T060008Z&X-Amz-Expires=86400&X-Amz-Signature=e746138fe1960cba4e95ee71667cbfe0587981a21da595b4c2b616ed1ea2268d&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_4.14.48_PM.png%22 From the Chart of accounts Create new accounts here by clicking on the 'Create account' table or by typing Shift then Enter on your keyboard when focusing on any row inside the table. See: Accounts & Categories
How can I nest accounts?
Nested accounts are important to keep your Chart of Accounts better organized by grouping related accounts together. For example, you might want to group your Restaurant and Delivery expenses under a common Food account. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/5bbff588-ebcb-49ea-96de-308b55f3c5b5/Screen_Shot_2020-04-13_at_5.13.13_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T060249Z&X-Amz-Expires=86400&X-Amz-Signature=31eb8421f0e462fc79c089b666d9fe0d1410295f4de0d4b51df443d8852f423a&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_5.13.13_PM.png%22 You can easily do so by naming your accounts as 'Expenses/Food/Delivery' and 'Expenses/Food/Restaurants'. Notice: There's no limit for how deep you can nest an account.
How can I import CSV files?
Importing CSV files into Alka is currently only possible by adding your transactions into our Standard CSV Template. Hint: Date format should be YYYY-MM-DD Once your document is ready, copy all your spreadsheet information and then come back Omnibaro Alka. Press CMD then K to run the and search for 'Create a new CSV connection', then select 'Preset: Standard'. https://coda.io/contentProxy/d3vErCr_tz/blobs/bl-_BIH-tHNHW/393da5d11354c531040fecc89f1b928b3221101bf1cf62b36206ffcb9bbd83e42d1c88af5f81dc1204428c7c235fccd9db126cd5f5a254493e91b4900648706eb4acee778ec5f34ec8852b2810217f6ddc4e8d5fad27f7e9048ca630d93c7131c35eb618 Afterwards, trigger the Omnibar once more and this time search for 'Import transactions via CSV' and select the connection you just created. https://coda.io/contentProxy/d3vErCr_tz/blobs/bl-dX6W_vXVOQ/dcc99162de34c3db8182561586b5143d2ec9deabfeca50315b4c9585bb723a3aaa7da874e13c0e98c5705696afcc29dc48e95ab850376ade8ab4975e07f4c880dd442e8d8a645755a7d2cab1b76c46083ace5b54c4fa169fbfe2519528fc6ea9c14db31b Paste your spreadsheet information into the dialog box that will appear and press Enter to run the import. https://coda.io/contentProxy/d3vErCr_tz/blobs/bl-f-RFGGdy3L/784ef5d1860a9142acc6e800ac9042594d7008a1db8db7db023e7dba6a4b3991abbdba42e25b8f15a1f641982d5e3b1349b10d994efaac17d4612f94d9d1535379f4c16147ebce55e839bc71c94bd3ec26ac613cec9aa8d20deecda1f07375f5cd7768d2
How can I create custom financial reports?
Financial reports are one of the most helpful tools to visualize your financial data and we've made sure to turn them into a integral part of Alka. You can create a report out any single piece of information in your ledger. Remember your friend Bob's surprise party? Select it from the labels menu and turn into a Financial Report by changing its display mode by selecting 'Report' from the dropdown menu under the 'View' button. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/f6209e35-f78b-4304-847c-ac9d555dc2cf/Screen_Shot_2020-04-14_at_5.50.14_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T061318Z&X-Amz-Expires=86400&X-Amz-Signature=c1697b6d027dbc2d0d1dd6c5b4f1df6d0088aae41925cce436cf606a7d317ead&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-14_at_5.50.14_PM.png%22 You can also do this by writing mode:report inside the Display Query input field on the top of your screen. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/33162b56-5b48-40e4-a548-2a30a0ddc378/Screen_Shot_2020-04-14_at_5.51.46_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T061352Z&X-Amz-Expires=86400&X-Amz-Signature=87b48cfe52e1b9bfe2d278ea7b92553860d18a0d9fae718c924a5db645fc5489&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-14_at_5.51.46_PM.png%22 See: Financial Report
What is a Pivot Table?
A pivot table provides a more interactive way of viewing your data by spreading it across multiple selectable cells that can help you further drill down your information. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/3e4548ec-a28a-4e3b-bad0-1900a23c9433/Screen_Shot_2020-04-14_at_5.59.17_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T061457Z&X-Amz-Expires=86400&X-Amz-Signature=186a16572c207c1702e449400632345c199660b60f931bc51b496a1e3fdc0776&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-14_at_5.59.17_PM.png%22 By selecting any given cell inside the pivot table, you'll get a full list of all the transactions that occurred in that specific point in time. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/edde9077-1d73-4d9a-9891-0b45f3fadd2a/Screen_Shot_2020-04-14_at_5.43.02_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T061521Z&X-Amz-Expires=86400&X-Amz-Signature=ae4eb187556aa7a1d937cc6e7d5be43509b7c6456d78ae2a8175f952a21f04c3&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-14_at_5.43.02_PM.png%22
What is the difference between 'Main Amount' and 'Amount'?
Sometimes transactions don't have just a single amount. In order to make this less ambiguous we use 'Main Amount' (aka mainAmount) to always indicate the amount that came directly from the bank. Here's an example to make things a little big clearer: Imagine you went for dinner with your old friend, Bob. Once finished, even though you split the bill, you end up paying the whole meal from your own credit card. In this case, you'd end up having 3 different amounts in your transaction. The amount charged to your credit card (Your Bank/Credit Card). The amount you paid for Bob (IOU/Bob). The amount of your share that goes towards food (Expenses/Restaurants).
How can I filter by amount?
Depending on whether you are looking at a Transactions or at a Postings table, you'll have to activate a different kind of filter to search by amount. If you are inside a Transactions table, use mainAmount like so: mainAmount:>100––To indicate that you're looking for all transactions larger than $100. If you are inside a Postings table, use amount like so: amount:500..1000––To indicate that you're looking for all postings in between $500-$1000. See: Transactions vs Postings
How can I create new scenarios?
Scenarios are useful tools for forecasting your financial situation during a given period of time. To create your first scenario, head over to the 'Scenarios' page and press CMD then K to open up the Omnibar, then search for 'Create a manual scenario'. Name your new scenario and after that you'll be taken into your scenario's detail. Once there, specify the scenario's time frame on the date bar and you'll be ready to create your first assumption. Once again, trigger the Omnibar and this time search for 'Create new assumption'. Specify its description, schedule, type and amount—a complete new set of automatically generated transactions will be created. Repeat this last step for each new assumptions, however many times you need.
How can I create a new ledger?
Create a new ledger by pressing CMD then K and searching for the 'Create new ledger' action in the Omnibar. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/0d8269e4-da83-4d00-a4e3-6778d85b58cc/Screen_Shot_2020-04-13_at_5.39.06_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T062112Z&X-Amz-Expires=86400&X-Amz-Signature=3f4577255329f1acee148816eb29b11006ef7b35ed0c9023298288930bed1783&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_5.39.06_PM.png%22 See: Ledgers
How can I invite members into my ledger?
From anywhere on the app, press G then S to go to your settings page. Once there, you'll see a 'Members' area where you can invite an Alka's user email into your ledger. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/86c7e388-12d6-4bf6-bc84-888a0f6543df/Screen_Shot_2020-04-13_at_5.29.16_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T062344Z&X-Amz-Expires=86400&X-Amz-Signature=7fc739a9346894cc4f510570c04d4f85cd4d891a399ef9ed0d53fd9c7d6e7af6&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_5.29.16_PM.png%22 Hint: Add hello@alka.app as a member into your ledger if you'll like to have a personalized concierge service.
How can I avoid double counting transactions?
If you ever make a transfer between two different bank accounts, you might end up with two separate transactions in your ledger, possibly messing with your balances. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/20309721-8b98-4ec6-8cf0-cfd5bbde823a/Screen_Shot_2020-04-15_at_1.48.23_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T062518Z&X-Amz-Expires=86400&X-Amz-Signature=5d995ed0a4d70e3486675f331a5e679812bc7d015fd7e93db0d665eda3de3779&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-15_at_1.48.23_PM.png%22 Instead of treating them as "duplicates" or deleting one of them (protip: NEVER delete your data!), the recommended procedure is to create an intermediate 'Transfers' account (aka 'Money in Transit') and categorize those transactions as such. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/56e9b2e4-89fd-4567-aa1c-ebaaa4e34c5c/Screen_Shot_2020-04-15_at_1.56.01_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T062548Z&X-Amz-Expires=86400&X-Amz-Signature=ae6a79906386fbdebefb43de1147e72ea6c50745f6436e3013962c560ac14519&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-15_at_1.56.01_PM.png%22
How to update Alka?
You can update your app by clicking on the bottom left corner link that will appear whenever a new update is released or by typing CMD + Shift + R on your keyboard. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/1b2aedf0-7ec5-4114-8f8b-fb2f32acc9fa/Screen_Shot_2020-05-01_at_6.37.57_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T062824Z&X-Amz-Expires=86400&X-Amz-Signature=74a6766617ede3da4c86ee1c5d27684fb4d101e15dce5ffc6af9b68bd32a83a4&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-05-01_at_6.37.57_PM.png%22
Why is my income negative?
Since we're using double-entry accounting under the hood, some of the sign conventions can be a bit confusing in the beginning for those who don't have an accounting background. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/59ca4afa-07bb-4c15-afab-34ee12e04157/Screen_Shot_2020-05-08_at_3.56.16_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T062921Z&X-Amz-Expires=86400&X-Amz-Signature=635ae02ad71b1e544025cc8dde8763e0093897deaa5c6fdae84590e32fd600f9&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-05-08_at_3.56.16_PM.png%22 Instead of thinking of numbers inside parenthesis as negative, think of them as from while numbers without parenthesis can be seen as to––so money comes from (income) and go to checking and can come from (checking) and go to expenses. See: Transactions vs. Postings
How to categorize transactions in bulk?
Find all the related transactions that you're looking to categorize by pressing / on your keyboard and running your search. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/8a0be96d-6ff9-49dd-b9ce-e7f1cc7876dc/Screen_Shot_2020-04-14_at_5.10.34_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T063256Z&X-Amz-Expires=86400&X-Amz-Signature=2066fc576b0098907eda01de78e78f8e825335c4d60af5e538937067d011f185&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-14_at_5.10.34_PM.png%22 Press CMD then A to select all the transaction shown or press X to select specific transactions while navigating through the list with the J and K keys. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/efd500a4-8067-43e2-932d-6f8c9f164978/Screen_Shot_2020-04-14_at_5.13.36_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T063337Z&X-Amz-Expires=86400&X-Amz-Signature=bce580946067edf3cd1b4ba48e6f2c0b8b0ef86a9ad41cb730d506e23f638214&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-14_at_5.13.36_PM.png%22 Once done selecting your transactions activate the Omnibar by pressing CMD then K, search for 'Categorize' and run either of the first two actions that will appear. Lastly, search for the desired account or create one, then press Enter to run the command. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/1c007185-ff0f-428b-8cd3-e85920216035/Screen_Shot_2020-04-14_at_5.17.49_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T063449Z&X-Amz-Expires=86400&X-Amz-Signature=f1d424ad4fc7d9f80ce6d81cf42a9c3146bab6d63cf909acbc026e2c4017b970&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-14_at_5.17.49_PM.png%22
How can I share a bill with friends?
Imagine you are at a restaurant with your friend Bob. Once the bill comes, your friend's card is rejected—once again—and doesn't have any cash, so it is up to you to pay for the whole meal. Smiling, you pay the $50 bill with your credit and assuming you have split thing equally, you need to make sure that only $25 goes into your Restaurants category while the rest is added to your Bob's IOU account. 1. Create a posting indicating that $50 are moving out of your 'Credit Card' account. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/fc845910-543f-4a66-9c77-34df1f0531ff/Screen_Shot_2020-04-13_at_4.09.07_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T063552Z&X-Amz-Expires=86400&X-Amz-Signature=1919634e3932f1555b0314911ee338ae6f8124dfa7c153f73d09e9a2dd9ba96d&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_4.09.07_PM.png%22 2. A second posting will appear with the whole $50. Hover over it and click on the 'Split' icon. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/559174ae-6b8f-4f6f-aff7-3f4a022c62b0/Screen_Shot_2020-04-13_at_4.12.07_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T063632Z&X-Amz-Expires=86400&X-Amz-Signature=9f85ba9580af070b4d422b12b3c40ec375614a6cfabec18aee45a7f980626e71&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_4.12.07_PM.png%22 3. Once split, make sure to categorize your postings accordingly. If you haven't created an IOU account yet, do so by naming one of your postings as 'IOU/Bob' and create a new account. https://s3.us-west-2.amazonaws.com/secure.notion-static.com/f64d54b9-dabc-4926-b677-ac55b8b96367/Screen_Shot_2020-04-13_at_4.15.02_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T063656Z&X-Amz-Expires=86400&X-Amz-Signature=9552da8a8d95a14d645ed43cf808fe6e9ebc479049763c7a8b9ef08d3b3b2940&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_4.15.02_PM.png%22 4. Success! https://s3.us-west-2.amazonaws.com/secure.notion-static.com/b9a12c07-14dd-4554-af2a-e04f0facc2c0/Screen_Shot_2020-04-13_at_4.15.52_PM.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20200511%2Fus-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200511T063713Z&X-Amz-Expires=86400&X-Amz-Signature=6db0f6981b4edeb88dcbc31557514c1d7d0f49f5e5ded6637db36be5d594a160&X-Amz-SignedHeaders=host&response-content-disposition=filename%20%3D%22Screen_Shot_2020-04-13_at_4.15.52_PM.png%22
What are External Categories?
Answer
Whenever new transactions get added into your ledger through any of your connections, we try our best to categorize them based on the information we receive from your bank.

Nonetheless, these categories might not actually be accurate. For example, you could end up with both Uber Ride and Uber Eats transactions categorized under the same "Transportation" categories whereas the latter would make more sense to be categorized as "Delivery".

External Categories should mostly be seen as a hint towards where your transactions should go but not as a last destination. Our recommendation would be to create your own categories in a way that fits how you look at your finances.

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Accounts & Categories
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