STEP 5: Update Last Month's Transactions

Click here to watch a video of how editing Transactions work.

When you're ready to update your transactions related to Goals, click here for a video walk-through!

1. Click on Transactions in the left sidebar

2. Use the Filter & Sort box on the right to narrow down your transactions

   1. For Date Range, click on the start date and then choose Last Month.

3. Begin going through the transactions one at a time to set the category correctly

   1. Use the dropdown in the middle of each transaction row to set the category.

      1. These should be relatively specific. There should not just be a “Shopping” category… Make it more specific like “Bill’s Clothing”, “Cindy’s Clothing”, etc. 

      2. Likewise, be specific about your income sources. Put the name of the person as well as what the income is from. For example, instead of Jake’s Income, it should be “Jake - Private Coaching”, “Sarah - Phone Reimbursement”, etc.

   2. The default categories that are system generated are very generic and often incorrect. Make sure to review every transaction. In many cases you will want to use the Create New Category option at the bottom of the list.

      1. Fill in all required fields for the new category and save it.

      2. Go back to the transaction and use the dropdown to set it to the newly created category.

      3. When you do this, a pop-up will appear in the bottom right asking if you want to create a rule based on that change - the answer will almost always be yes!! Keep reading to learn how this works!

         1. By creating a rule, all other transactions that meet your specified criteria (merchant name, for example) will automatically be updated to the same category. 

            1. As an example, if your HOA Dues showed up with a default category of “Home Improvement”, change the category to “HOA Dues” by clicking on Create New Category and setting one up.

            2. When the pop-up appears at the bottom right, create a rule so that when the merchant is that same merchant, it will always be assigned to the HOA Dues category.

            3. Click on Preview Changes at the top to see which previous transactions your new rule would apply to so you can make sure it looks right, and then save your rule!

   3. Repeat this process for all transactions from the month

   4. If you regularly use cash for purchases, this may be more difficult for the previous month - that’s ok! Just enter what you remember and plan to add your cash transactions as you make them going forward!

      1. To add a cash transaction, look in the upper right hand corner and choose +Add Transaction 

      2. Include the merchant and the amount, then select the category it applies to - you can do this for both income and expenses!

   5. If you are unsure about what to do for any of your transactions, do not get stuck in analysis paralysis! Click on the right arrow to edit the transaction, scroll down the edit box until you see the option to “Mark as needs review”. Click on this box and set it to Anyone. Submit a ticket with us and we will be able to pull up all of your transactions that need review so we can work together with you on them! You can watch a video demonstrating this process by clicking here!