By default Geltbox categorizes each transaction as income or spending according to its value. In order to get an accurate overview we recommend you to categorize all the relevant transactions as credit card, investment or loan. To be able to track your expenses easily classify each spending transaction using your set of labels.
Categorize your transactions.
Credit Cards
The target is to match between the credit card debit transactions, usually located in the checking accounts, and their proper credit card accounts.
Step 1
:
Click the black little arrow in the transaction to open the categorization dialog.
Step 2
:
Click "Credit card payment..."
Step 3
:
Select the credit card account that matches the debit transaction. If the relevant credit card account doesn't exist, click "Add+" to create the credit card account.
Note: if the debit transaction refers to more than one credit card account skip step 3 and close the dialog.
Investments
The target is to match between the investment transactions and their proper investment accounts.
Step 1
:
Click the black little arrow in the transaction to open the categorization dialog.
Step 2
:
Click "Investment..."
Step 3
:
Select the investment account that matches the investment transaction. If the relevant investment account doesn't exist, click "Add+" to create the investment account.
Note: the same steps are also suitable for loan and property transactions.
Label Your Income and Spending
There are different ways to add a label to a transaction.
The simplest is just to drag and drop a label from the list of labels in the left.
Another way to label a transaction is by clicking the black little arrow in the transaction to open the categorization dialog. In the dialog click "Spending..." and select the label from the list. If you want the label to be applied to all the transactions with the same description enable the checkbox "Apply to similar transactions".
In order to label different transactions with the same label, enable their checkboxes and then click "Label" button above to open the categorization dialog.