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, click the Menu icon (the three lines in the upper left corner), select Settings, then select Categories:
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.
Click the Menu icon (the three lines in the upper left corner).
Select Settings and then Categories.
Select the Create Custom Category button at the top.
Assign the Category a Name, and choose whether it's an Expense or Income.
If you'd like your Category to be a Subcategory, select the Subcategory of dropdown menu and choose the primary Category.
Click Create when done.
You can also create Categories from a transaction:
Please note that you cannot create new Subcategories from a transaction on the Mobile App.
Create a new transaction or locate a transaction that needs to be recategorized and click on it.
Select the Category field and then type the name of the Category you'd like to create into the Search Category field.
Click Create when done.
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.
Click the Menu icon (the three lines in the upper left corner).
Select Settings and then Categories.
Locate the Category you'd like to edit and click on it.
Make the necessary adjustments and click Update 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.
Click the Menu icon (the three lines in the upper left corner).
Select Settings and then Categories.
Locate the Category you'd like to delete and click on it.
Click Delete, then click Delete again. 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 Web App, please click here!