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Learning transactions
madkoch
Member Posts: 3
It would be wonderful if Wave learns the categories for repeat/regular transactions, so I don't have to reassign the category each month.
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madkoch
Member Posts: 3
It would be wonderful if Wave learns the categories for repeat/regular transactions, so I don't have to reassign the category each month.
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Hey @madkoch, Wave is now able to automatically categorize your transactions based the information contained in its name/description. If Wave categorizes a transaction incorrectly, you can easily re-categorize it with just a few clicks -- Wave will then relearn how to categorize payments from this merchant in the future based on your changes.
For example, if Wave sees an expense named "Cafe Shop”, it will may automatically categorize it under "Meals & Entertainment". However, if you re-categorize it to "Travel Expense", then Wave will try to categorize related imported transactions as such in the future.
When you re-categorize a transaction, Wave can also detect and gather a list of all currently existing related transactions. Wave will then ask you if you would like to apply your category changes to all of those transactions as well. Confirm that the transactions are categorized correctly and click ‘Categorize’. Wave will then use this updated category when categorizing transactions of this nature in the future.
You can see this laid out in our Help Center article about auto-categorization here: https://support.waveapps.com/hc/en-us/articles/360001301666-All-about-automatically-categorizing-transactions
I hope this helps!
Is that new? I look forward to trying it out! Thanks. (Happy new year!)