Using the transfer category correctly

Here’s a quick breakdown of how to categorize different types of transactions in Billroo:

Any payments where money is simply moving between your own accounts should be categorised as a Transfer, so it doesn’t affect your budget calculations.

Examples:

• Debit Account → Credit Card Payment → Transfer

• Credit Card → Received Payments from Debit Account → Transfer

• Savings Account → Checking Account → Transfer

If you're making a mortgage repayment, here’s how to categorise it properly:

• Money going from your Debit Account → Mortgage Account → Categorise as "Investment Property" (or "Home Loan Repayment" if it's your primary residence).

• Money received into the Mortgage Account (e.g., redraw facility, balance adjustment) → Categorise as "Transfer" to keep it out of your budget.

💡 Why?
This ensures that mortgage repayments are reflected as an expense, while any payments received into the mortgage account (such as redraws) are just a balance transfer and won’t impact your budget.

While transfers don’t affect your budget, actual spending on a credit card or mortgage payment should be properly categorised:

• Credit Card Purchases → Assign to appropriate expense categories (e.g., groceries, dining, utilities).

• Mortgage Repayments → Mark as "Investment Property" or "Home Loan Repayment", depending on the purpose of the mortgage.