Using the "Transferring Money" category.

You're in the guide for the web version of Pocketbook. Switch to the mobile app.

------------------------

Transferring Money is a special category we have created in Pocketbook. 

If you're like us, you typically move money around within your accounts - whether this is from your savings account to credit card, your transactions account to your home loan etc.

The trouble with these transfers is that these large amounts appear as debits and credits on your bank transactions, meaning that it is easy for these to be mistakenly classed as incomes and/or expenses - doubling up actual spending and earning.

Using the Transferring Money category is recommended for the following:

1. When you pay off your credit card - where your credit card is already connected to Pocketbook and your actual spend.
2. When you transfer money to your mortgage account - when your mortgage account is already connected to Pocketbook and interest payments are separately deducted.
3. When you withdraw money from the ATM - where you intend to capture the cash spend manually.

You can find how to categorise your transactions here!