Ignitify

Categories Settings Knowledge Base

Welcome to the Ignitify Categories Settings knowledge base. Managing your income and expense categories is crucial for accurately tracking your finances and generating meaningful reports.

This guide will walk you through adding, editing, and organizing your categories.

Understanding Categories

Categories help you group your financial transactions (income and expenses) into meaningful buckets. This allows you to see where your money is coming from and going to at a glance.

For example, you might have expense categories like "Groceries," "Utilities," "Rent/Mortgage," and income categories like "Salary," "Freelance Income," etc.

Default Categories

Ignitify may come with some default categories to get you started. You can usually modify or delete these default categories, except for certain system-required ones.

Custom Categories

You have the flexibility to create your own custom categories to fit your specific financial tracking needs.

Managing Your Categories

Adding a New Category

To add a new income or expense category:

  1. Navigate to the Settings section and select Categories.
  2. Find the option to "Add New Category" or a similar button.
  3. Specify whether it is an Income or Expense category.
  4. Give your category a clear and descriptive Name (e.g., "Eating Out," "Consulting Fees").
  5. (Optional) You may be able to assign a color or icon to the category for visual identification.
  6. Save the new category.

Editing an Existing Category

To modify a category:

  1. Navigate to the Settings section and select Categories.
  2. Find the category you wish to edit in the list.
  3. Click on the category name or an "Edit" icon.
  4. You can usually change the Name, Type (Income/Expense, though changing type might be restricted if transactions are linked), color, or icon.
  5. Save your changes.

Deleting a Category

To remove a category:

  1. Navigate to the Settings section and select Categories.
  2. Find the category you wish to delete.
  3. Click on a "Delete" icon or button.
  4. Important: If there are existing transactions assigned to this category, the system will usually prompt you on how to handle them. You might need to reassign them to another category before deletion, or the transactions might be unassigned.
  5. Confirm the deletion.

Best Practices for Categories

  • Keep it Simple: Don't create too many overly specific categories, which can make tracking cumbersome.
  • Be Consistent: Use the same categories consistently for similar transactions.
  • Review Periodically: Every few months, review your categories to ensure they still meet your needs and that you're using them effectively.