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I always fail to see how that actually works (edit: I mean the auto importing of transactions). My 3 biggest non-recurring expenses are Amazon, REWE (German sup
by Semaphor 4y ago
I always fail to see how that actually works (edit: I mean the auto importing of transactions). My 3 biggest non-recurring expenses are Amazon, REWE (German supermarket chain) and PayPal. While REWE is mostly groceries, it certainly isn’t all, Amazon could be almost anything and PayPal could be absolutely anything.
Do people just give up on granularity, or how does it work?
- jlokier 4y agoWhen I last did some bookkeeping of Amazon expenses, I fetched the detailed purchase history from Amazon (when available) as well as extracting data from the emails received by the person who purchased items. Similarly with some other suppliers. This undoubtedly saved on some manual data entry.
- Larrikin 4y agoBudgeting tools work best when you're checking them regularly, so you should have a basic idea of what you bought even if you lost the physical receipt. YNAB offers the ability to split transactions over different categories so categorizing an Amazon purchase is trivial. In the case of physical receipts you can enter them before they are synced from your credit card and YNAB does a great job matching uncleared transactions back with the cleared ones. Paypal purchases always have the merchant attached to them, so you should be able to differentiate them regardless of the budgeting app you use.
- Semaphor 4y agoOh, yeah, it is easy, that’s what I do. Sorry, I was unclear, I meant the automatic importing of transactions. If you have to go through them anyway, there does not seem to be much saved.
- toyg 4y agoCategorizing is much, much faster than having to enter the transaction manually. It's also less error-prone.