D. Set up your categories

PocketSmith lets you organize your transactions into categories so you can:
  • Easily locate them later on the Bank Statements page

  • See your spending history per category on the Budgets page
You can also start budgets for your categories later to help you set limits for spending in certain categories.

Recurring budgets create a cash forecast by projecting daily bank balances from your current account balance. You'll be able to work with your forecasts on the Calendar and Cashflow pages.

Category names are yours to choose, but to help you get started, PocketSmith lets you select from a set of templates based on other budgeting tools, which you can modify.

You may already have categories imported with your files - in which case, follow these steps to add new ones. If you're happy with the categories you have, you may skip to Step E, categorizing your merchants.

  1. Go to the Categories page.

  2. Click 'Add new' in the left sidebar.

  3. Either type in your own categories, or select a template from the drop-down menu. You can edit the categories in the text area before you save them. Sub-categories are nested using hyphens (-), up to two levels deep.

  4. Click 'Save categories' to populate your list of categories.

  5. Categories can be sorted by dragging and dropping. To nest a category under another, simply drag a category onto another category. The 'Edit' and 'Delete' options for each category appear to the right when you hover over a row.

Next step: Categorizing your merchants

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