Yodlee has a powerful algorithm to categorize the transactions you make in your checking, savings, and credit card accounts. However, sometimes it puts something in the wrong category, or it doesn’t categorize a transaction at all. There is a way to categorize certain transactions you make throughout the month that Yodlee isn’t getting right. Follow these steps to set up custom categorization rules in your yodlee account.
This is a great tip to to set up a custom categorization for your electric and water bill. Sometimes, Yodlee will not recognize the name of your utility company, and typically, your electric bill does not vary too much during a given season. There are also other static bills that might come in as uncateogized transactions that this function will help you properly categorize the transaction without doing it manually every month. If you put the time and effort needed to set up Yodlee, it can be a very powerful personal finance tool to give you a snapshot of your financial health.