When to Categorise a Transaction as a Transfer (and When Not To)
Edited
The “Transfer” category should only be used when you’re moving money between your own accounts (e.g. from salary account to offset account).
If money is entering an account (like salary or savings interest), it should be categorised as Income or Savings.
If money is leaving an account as an expense (e.g. groceries, utilities, mortgage repayment), categorise it appropriately under the expense type rather than as a transfer.
Most of the time, Billroo’s auto-categorisation will detect these expenses correctly and assign them to the right category you’ve set up.
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