Is there a way to quickly categorize many bank transactions?

When you first link your bank and credit card accounts to Seller Ledger, you may notice that we don't know how to categorize a number of transactions. That's because banks and credit cards don't provide as much information about transactions as your online sales platforms.

Fortunately, on your Seller Ledger dashboard, we provide bright yellow buttons showing how many transactions need to be categorized. Now, at first, it may look like you have a LOT of work ahead of you. However, that is not likely the case. Just click on the yellow button under the account. IN this case, we'll pick the credit card, which seems to need the most help.

Right off the bat, Seller Ledger groups your transactions by Merchant/Transaction name, ranked by number of transactions in descending order. Because most transactions with the same merchant get categorized the same, we've made it quick and easy to do just that.

Those USPS transactions are all for shipping items to customers. Let's check the box to the left and click the "Categorize" button that turns blue:

Up will pop a simple dialog box allowing you to choose the category for all of those USPS purchases. Let's choose "Shipping costs".

Plus, if you know that all future purchases from the postal office should be categorized at "Shipping costs", just check the box that say "Apply to future, similar transactions." Then click the "Update" button.

Not only will you have just categorized the largest number of transaction in your credit card account, but any USPS purchases that get downloaded in the future will also automatically be categorized. Seller Ledger learns and gets smarter the more you use it.

To learn more about categorize and how they work, check out this support article.