Categorizing transactions in Wave helps you track your income and expenses under specific accounts in your reports. For example, if you have multiple transactions categorized to the same expense account, the reports will help you understand the total amount spent on that expense over a certain period.
If a transaction is not categorized, it will show on your reports as Uncategorized Income or Uncategorized Expense. Reports are only available in the web browser version of Wave. Learn more about reports in Understanding your Reports page.
If you have a Pro Plan subscription, Wave automatically categorizes your expense transactions imported through a bank connection. If a transaction was categorized incorrectly, follow the steps in this article to recategorize your transaction. To learn about how Wave automatically categorizes transactions, see Automated bookkeeping with auto-updates.
Categorize or recategorize a transaction in your web browser
Categorize or recategorize a transaction in the Wave mobile app
Categorize or recategorize a transaction in your web browser
- On the left-side menu, select Accounting > Transactions, and locate the transaction.
- Click the Category field and select an account from the dropdown menu.
To create a custom account under your Chart of Accounts click Add a new category at the bottom of the dropdown menu.
Categorize or recategorize a transaction in the Wave mobile app
Accounting transactions in the mobile app are included in Wave’s Pro and Receipts Plans. Learn about Wave’s plans.
- Log in to the Wave mobile app.
- Tap Accounting on the bottom menu, then tap Transactions in the submenu.
- Tap on the transaction.
- Tap Add category, then select a category from the list. To create a new category, tap the + icon at the top right.
- Tap Save.