Auto Assigning Categories to Downloaded Transactions?

TRudolph's Avatar

TRudolph

25 Mar, 2020 12:54 AM

Hello Community,

I know we can assign a default category for new (and imported) transactions by account, but I was wondering if there is a means to assign a default category to transactions by payee (e.g. Pizza Hut -> Dining Out)? I'd only like to do so for specific payees that are always the same and leave the others 'Uncategorized'. Maybe I am just being lazy, but this would cut down on the number of categories needing specified by about 60-70%.

Thanks in advance!

  1. 1 Posted by dwg on 25 Mar, 2020 01:06 AM

    dwg's Avatar

    I'm a fellow user.

    There is no predefined list.

    Moneydance works somewhat differently. What you do is assign a category when you go through the confirmation process. From the "list" of confirmed transactions Moneydance can identify common associations and suggest the category for future transactions when you are going through the confirmation process, so it is picking up what has occurred in the past, so in a way it is building up the sort of associations you are looking for but in a different way.

    It is possible to take this a step further if it suits you. There is an option in preferences to "Automatically Merge Downloaded Transactions". What this does is Automatically merge and categorize transactions downloaded through direct connections, or imported from your bank's website.

  2. 2 Posted by TRudolph on 03 Apr, 2020 04:24 PM

    TRudolph's Avatar

    Thanks, dwg. I can adapt to the method it does use. In the past, in Quicken, when I have attempted to use the second feature you describe (or at least Quicken's version), I found I need to make more corrections than acceptances so I chose to skip that step each time in Quicken. I think as I become more familiar with Moneydance's engineering, I can find a way to optimize transaction entrees.

    Thanks again for all you help. (Sorry for the delay, I did not receive an email notice of you posting.)

  3. System closed this discussion on 03 Jul, 2020 04:30 PM.

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