Glossary
Transaction categorization
Definition
Assigning each bank transaction to a category or ledger account.
Categorization turns a statement into useful information: expenses by type, income by source. It can be done with rules in accounting software, lookups in Excel, or AI.
Related terms
- Chart of accounts
The list of accounts a business uses to categorise transactions in its general ledger.
Convert your first statement in under a minute
20 free pages every month. No credit card. Every export format included.