Transaction Categorization

Introduction

Transaction categorization aids the retail user to categorize or split (more than one category) a particular transaction, which will be used for expense and budget analysis. Categorization or split of transaction will be available in each account type (Account summary, operative accounts, deposit accounts, loan accounts, credit cards and other bank accounts). In Transaction Categorization, retail user is enabled to categorize his expenses and income under defined categories which the user has linked to his account. This helps retail user to keep track of their spending and income.

This screen allows the retail user to categorize or split the transactions that were initiated for the selected accounts. The transaction list by default would be shown for last three months transaction for the account chosen. However, this is a configurable parameter and retail user can list the transactions based on the search criteria also. The result list shows the bank name, account number, date of transaction, remarks, category, amount type, amount and whether the transaction is split or not. Retail user can choose the transactions and update the category of the transactions according to his need. Any transaction which is not categorized would by default remain as Uncategorized. Retail user will also not be able to set any budget details for this category.

Retail user can choose any records and update the category or can split any transactions. Splitting isn’t possible for already split transactions and hence updating the category of split transactions is also not possible. For already split transactions, the category column is disabled and is displayed as Uncategorized. However, retail users can update the already split transactions using Split Transaction function.

Navigation

The following is the navigation for this option:

• Click the Transaction Categorization button  in the Account Summary screen.

• The Transaction Categorization screen is displayed.

What you can do

The table below provides a brief description of the data displayed on the screen and the functions you can perform:

Field

Description

Search Criteria

Transaction Date From (dd/mm/yyyy)

Select or specify the starting range for transaction date.

Transaction Date To (dd/mm/yyyy)

Select or specify the end range for transaction date.

Total Amount From

Specify the starting range of transaction amount.

Total Amount To

Specify the end range of transaction amount.

Category

From the drop-down list, select the category of the transaction.

Additional Details

Bank Name

Specify the bank name in which the transaction’s account is present.

Account

Specify the account number for which the transactions have to be retrieved for the above specified bank.

Transaction Remarks

The transaction remarks that was specified during transaction initiation.

Field

Description

Transactions List

Select

Select the check box to select the corresponding record.

Bank Name

The bank name in which the account is present.

Account Number

The account number.

Transaction Date

The date on which the transaction was initiated.

Transaction Remarks

The remarks specified by the retail user during transaction initiation.

Category

The category of the transaction if any. If the transaction isn’t categorized then by default it would be displayed as Uncategorized.

Amount Type

Indicates the transaction type.

Valid Values:

Debit (Dr)

Credit (Cr)

Amount

The amount of transaction.

Transaction Split

Specifies whether the transaction is already split or not. If the value is Yes then retail user cannot split it further and the Category field is disabled for updation.