Balancivo · Everyday bookkeeping

Categorize and review transactions

Give each transaction a category, let Balancivo remember your choices for each merchant, and mark them reviewed.

Who can do this: Owners and bookkeepers; only owners can add new categories.

Categorize and review transactions · 56 sec · shown with a sample organization.

Read the transcript

Every new transaction from your bank or your statements lands here in Review, waiting for a category. The number next to Review in the menu shows how many are still waiting. Leave Remember my category for each merchant ticked, and Balancivo learns as you go. Pick what the money was for. This Sysco order is food we resell, so it goes under Cost of goods sold. Money coming in lists income first. This Square deposit is sales. Balancivo files the other open Square deposits the same way, and new ones from Square get filed automatically. When you see Suggested, Balancivo recognized the merchant. Keep it if it's right, or pick something better. Add a short note for yourself or your accountant whenever it helps. When everything looks right, mark the categorized transactions reviewed. They leave this list, and they're already in your reports.

Every transaction from your statements and bank connections lands in Review. Give each one a category (what the money was for), then mark it reviewed. Reports include everything, but closing a month needs every transaction categorized.

Steps

Go to Review. The number next to it in the menu is how many transactions are waiting. To review is selected.
Leave Remember my category for each merchant ticked if you want Balancivo to learn your choices.
Choose a category for a transaction from Choose a category. Money coming in lists income first; money going out lists expenses first.
Add a note if it helps. Use the Note column for a short explanation for you or your CPA.
Click Reviewed on the transaction. Or, once several are categorized, click Mark categorized as reviewed at the top (it shows how many).

How Balancivo fills categories for you

With Remember my category for each merchant on, picking a category saves it for that merchant. New transactions from the same merchant are filed automatically, and other open ones from that merchant that you didn't pick by hand are filed too. You'll see "Also filed" and how many.
Transactions filed this way say "From your earlier choice for" the merchant.
Suggested. Keep it or pick another. means Balancivo recognized a common merchant and suggested a category. Keep it, or pick another and Balancivo remembers your choice instead.
Untick Remember my category for each merchant for a one-time exception, like a single order that was a gift.
Balancivo learns only real merchant names, not bank phrases like "Card Purchase."
To change or turn off what it learned, go to Settings and find What Balancivo has learned.

Zelle memos

When an owner has set up Zelle memos in Settings, the memo from each Zelle alert shows under the transaction's description as Zelle memo: followed by the memo, such as "tithe" or "building fund."
If your books have Zelle payments and Zelle memos aren't set up yet, owners see a reminder in Review. Click Set up Zelle memos, or Not now to hide it.
A forwarded Zelle alert never adds or changes money in the books; it only adds the memo.

Good to know

Owners can add a category from Review: click + New category above the category filter, type the New category name, choose where it Goes under, and click Add category.
If funds are set up, a Fund list appears under each category. Fund: General is the default.
Not sure of a category? Use Other expense or Other income and write a note saying what it was.
To change a reviewed transaction, click Reviewed at the top, then Reopen on the transaction.
If a month is closed, you'll need to reopen it before changing categories.
To divide one transaction among several categories, see Split a transaction. To narrow the list, see Search and filter in Review.

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