Categories
Transaction categories describe the nature or purpose of financial transactions. They are a core component of the enrichment output and can be found in the categories field. They are comprised of two types:
- General categories: Returned for all transactions.
- Accounting categories: Specific to business transactions and returned alongside the general ones.
General categories
The set of general categories available is dependent on the account holder type and vary a great deal between them.
They are organized into two main classes: incoming and outgoing representing the subset of available categories
for transactions of that entry_type.
You can find the listing containing all the categories for each type below:
Transactions for which none of the categories are suitable, will be categorised
as other.
Special categories
In cases where there is not enough information to accurately classify a transaction, the API will return the category
not enough information. This category is used when the available transaction data is insufficient to determine a
specific category. This ensures that transactions are not incorrectly categorized when the data is ambiguous or incomplete.
If no account holder is specified for a transaction, the category missing account holder information will be assigned.
Accounting categories
For business transactions, we also provide an accounting category. The available categories are the following:
- operational expenses
- cost of goods sold
- revenue
- financing
- taxes
Custom categories
In addition to the default categories, Ntropy allows you to define and use custom categories for your specific needs. This feature enables you to tailor our categorization system to your unique use case.
After uploading your custom categories, Ntropy will automatically use them when categorizing transactions associated with the respective API key. These categories will replace the default ones in the enrichment results.
Note, that for best possible results, custom categories should be as
succinct, precise and non-overlapping as possible. It is also good practice to
add the other category as a “sink”, in case none of the categories are suitable.
The special categories not enough information and missing account holder information will automatically be added to the list of
custom categories.
If you are using recurrence, we recommend that you create a new API key. Having different sets of categories in transaction histories might yield unexpected results.
Retrieving Custom Categories
To view your current set of active categories:
Set Custom Categories
To define custom categories you need to create a JSON structure that represents your desired label organization. The structure should contain two main categories: “incoming” and “outgoing”, each containing an array of labels.
Here’s an example of how to set a custom hierarchy:
Resetting Custom Categories
The API also allows you to revert to the default category set: