One of the key features of the Moneylab service is automatic categorisation of the transactions on your financial accounts. Each time we retrieve transactions for your accounts we automatically assign those transactions to categories. Assigning transactions to categories makes it easier to set a budget and review your spending.
Transactions are assigned to categories based on the description that appears on each transaction. The better the transaction description, the better the categorisation.
You can manually change the category of a transaction at any time and create category rules to be applied to all future similar transactions. We use Artificial Intelligence and Machine Learning techniques to give you suggested categories when you change a transaction category and so manually categorising your transactions has never been easier or quicker.