Our goal is to eliminate as much manual work as possible when it comes to the classification of your bank transactions. This includes the identification of the merchant and its category for each transaction. To achieve this goal, we have implemented several strategies automatically classifying your transactions.

Whenever our system classified one of your transactions, it will show a little “magic” icon next to the transaction. In the transaction detail sidebar this information is shown right below the merchant selector.

Further, we transparently share whenever our system is classifying one or more of your transactions right now. You will see the status of what our system is currently working on in the main navigation on the bottom-left, right above your user avatar. Changes to your transactions might happen automatically while using our tool as a result of this.

When our system auto-detects a merchant for your transaction, it also knows the website domain of that merchant. Before considering creating a new merchant for you, it will check if there is already a merchant present with the same website domain. That is why we strongly recommend properly setting the domain field for merchants in our tool. You can also set multiple domains for the same merchant (e.g., in the case of multi-country set-ups like microsoft.com, microsoft.de). Further, setting the domain(s) also results in our system finding a matching logo/icon for that merchant, which greatly helps in visually identifying a transaction. The logo/icon will be populated for the first domain listed.

If you ever run into a situation where our system incorrectly assigned a new merchant and/or category to one of your transactions, simply fix it by adjusting the merchant and/or category by editing the transaction and/or merchant. Our system will mark this transaction to be excluded from future auto-detection. There can be cases where you want to delete a merchant that should not have been created at all.