Auto categorisation of spending in statements

Posted 30th Apr 2023
Hi.
Is there an app or excel spreadsheet which can cleverly auto categorise your spends from the download of your statements?
Or do I need to do from scratch in excel ?
Looking to analyse my spend to see what I actually spend on this and that....
Community Updates
New Comment

11 Comments

sorted by
's avatar
  1. TristanDeCoonha's avatar
    TristanDeCoonha
    Would you train it so Sainsburys is groceries? What about the engine oil and clothing? No app will break your receipt down for you in the same way you could.
    But if you are happy to have a brand classed as one category only, then you could do it in a spreadsheet quite simply. If the store is Sainsburys then the category box auto fills as Groceries.
    It is no different to the way in which the apps work
    josephobrien2000's avatar
    josephobrien2000 Author
    Yes I've done my own spreadsheet yesterday , downloaded 6months worth of data.
    Sorted by name to make it easier to copy and paste a category down to rows below of the same type. Added a column of categories.
    All done.
    But , would like a friendly mobile version that can import a csv and learn . Maybe I should invent my own!
    All apps so far make me want to open an account before I can get going
  2. Duggie2000's avatar
    Duggie2000
    Not sure on on the excel question, but I do know most banks do offer this as standard within the digital access to your bank?

    Which bank are you with?
    josephobrien2000's avatar
    josephobrien2000 Author
    They do but it's very basic .
  3. bozo007's avatar
    bozo007
    Have you tried Money Dashboard? It is free and works pretty well by using the Open Banking protocol and connecting to your online bank & credit card accounts. You need to train it when the categorisation is incorrect but it is right about 90-95% of time. The app is quite dated but still works fine; there is a web version as well. I prefer the Classic version over the Neon and have been using it for many years.
    jamie15's avatar
    jamie15
    Moneyhub does similar
  4. josephobrien2000's avatar
    josephobrien2000 Author
    Thanks all, will look at money hub and money dashboard. Not heard of those.
    Not keen on connecting my bank details to an app though!
    jamie15's avatar
    jamie15
    If you have a bank that supports open banking, then it is secure to do so. Under PSD2, all TPPs (Third Party Providers) must be registered with the FCA, a registered provider should be okay to use.

    Moneyhub for example is registered, offers encryption and states nobody can view your transaction data.
  5. josephobrien2000's avatar
    josephobrien2000 Author
    Ideally, I'd like something where you can either manually enter data or import CSV that I have exported from my bank
's avatar
Discussions
Top Merchants