Overview
Assigning Categories gives you a better understanding of where your money goes. When you download transactions from your bank, Simplifi will automatically assign a Category based on a combination of crowdsourcing, nearby payees, and simple logic. However, you can categorize your transactions using your own custom Categories, or you can choose from the default Categories built right into Simplifi!
To add more detail to your transaction, try using Subcategories! For example, rather than using the broad Category of 'Travel' to track your business trip expenses, you could differentiate each transaction by using Subcategories like 'Airfare' and 'Hotel Accommodations'.
To view the default Category list, hover over the panel on the left-hand side and select Settings, then select Categories & Tags:
Creating Categories and Subcategories
There isn't currently a limit to the number of Categories or Subcategories that can be created. However, there is a limit to the Category levels, as Simplifi only supports two levels: the main Category and a Subcategory.
Hover over the panel on the left-hand side and select Settings.
Select Categories & Tags.
Click the blue + Category button.
Enter the Category Name.
If this is a Subcategory of an existing Category, click the Subcategory of field and select the primary Category.
Click the Type field and select either Income or Expense.
Click the blue checkmark to save.
You can also create Categories and Subcategories from a transaction:
Create a new transaction or locate a transaction that needs to be recategorized.
Select the Category field and then type the name of the Category or Subcategory you'd like to create.
Click Create and then select Main Category or Subcategory of, whichever applies.
If you are creating a Subcategory, you will next need to select the Main Category from the list of existing Categories.
Note: You cannot have both an Income and an Expense Subcategory for a main Category; all Subcategories will take the main Category's transaction type by default.
Editing Categories and Subcategories
Although Simplifi allows you to edit most of the built-in Categories, there are some that won't allow adjustments: Transfer, Credit Card Payment, Balance Adjustment, and Investment.
Hover over the panel on the left-hand side and select Settings.
Select Categories & Tags.
Locate the Category that you'd like to edit, then click on the field that you'd like to change.
Make the necessary adjustments and click the blue checkmark when done.
Deleting Categories and Subcategories
Although Simplifi allows you to delete most of the built-in Categories, there are some that are unavailable for deletion: Transfer, Credit Card Payment, and Balance Adjustment.
Hover over the panel on the left-hand side and select Settings.
Select Categories & Tags.
Locate the Category that you'd like to delete and hover your mouse over it.
Click the gray Trash Can icon. Note: If the Category or Subcategory is being used on a transaction, Simplifi will ask you to select a new Category or Subcategory for the affected transactions; once selected, click Reassign & Delete.
To learn more about Managing Categories and Subcategories on the Simplifi Mobile App, please click here!