Purpose:

Cheqbook helps you categorize transactions. Because Cheqbook, can pull data from your bank, or let you upload your bank statements, it has most of the information necessary to create a transaction. Cheqbook can use its software to auto-categorize the majority of transactions, but the quality of the auto-categorization varies. To help the user, Cheqbook uses four colour codes.

Explanation: 

AccuScore provides a quick look at the classification status of each category. 

 No categorization: Transactions that have not been categorized. These transactions require your attention.

Categorized by the crowd: Transactions categorized based on learning from other Cheqbook customer accounts. These transactions should be reviewed.

Categorized by past user history: Transactions categorized transaction based user history. These transactions are likely ok and can be left as blue.

Uncleared: Transactions that are waiting to match with a transaction downloaded from the bank. Matching is based on several things, including: check number, bank description, amount, date and payee/vendor.

Categorized by the user. Transactions categorized based on your input. These transactions are fine because it has already been edited.

 

How to Categorize:

All transactions created by Cheqbook from your bank transaction data start off as red, which is uncategorized. Cheqbook analyzes the transactions based on other user history, and then categorizes them. Transactions categorized this way become yellow. It then analyzes the transactions and categorizes them based on previous transactions you've entered into Cheqbook. These transactions become blue. To get transactions green, a user has to go through the red transactions and categorize them, and then go through the yellow and blue transactions and approve them.

In an ideal world, every single transaction would be green, because it's been either categorized or approved by the user. However, as long as a transaction has a category (meaning, there are no red transactions), then you can proceed.

Not every transactions can be entered based off data from the banks. Some transactions need to be first manually created by a user, such as invoices and bills (and their accompanying payments). These transactions manually entered and categorized by the user are represented by green hollow circles. These green hollow circles will receive a checkmark when the transaction appears in your bank (like when a customer payment is deposited).

  

Actions:

 Click to view all red transactions.

 Click to view all yellow transactions.

Click to view all blue transactions.

Click to view all uncleared transactions.

Click to view all green transactions.

  

Additional Resources: