Can YNAB automatically categorize my imported transactions?

I know mint does this feature for the past 3 months but currently looks like YNAB does not do it? I suppose they want you to manually sort each and every transaction.

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    • Abby
    • Toolkit for YNAB Designer & Developer
    • abbydawn
    • 2 yrs ago
    • 3
    • Reported - view

    YNAB learns how you categorize transactions based on the payee. The first time you purchase from a specific store/location you'll need to add in the right category, but YNAB will default to that category going forward. You can manage this in the Manage Payees section:

    It's not as automated as Mint, but it isn't an entirely manual process either.

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    • Abby Hi Abby, I imported a large number of transactions, and I started categorizing them. Also, I have manage payees in order to set payees with the same name into a specific category, however, YNAB does not seem to automatically categorize the remaining ones as set in the manage payees window. I have a large number of transactions, and it I need to categorize each one manually, this would take me ages. 

    • Slate Blue Python  Hi, there! This wasn't mentioned in this thread when it was posted 2 years ago, but it's an important thing to note: YNAB doesn't recommend that you bring in old transactions. This is because a successful budget is grounded in your present reality and is forward-looking. Spending hours recreating old budgets and categorizing past spending probably isn't worth your time.

      Start fresh! Keep your old information for tax purposes, or if you want to refer to how much you usually spent on certain things. Right now, prioritize the money you have on-hand now and look forward. It'll make a much bigger difference. :)

      When it comes to automatically categorizing transactions in YNAB, this, too, is a forward-looking process. As you spend and change payee names and categories, YNAB will remember those settings and create a rule to read your mind when its sees transactions that match those rules in the future come in.

  • You don't need to do each and every transaction, but there is a "seed" period in the beginning.

    FWIW, I hated that feature of Mint, because not everything bought at 7-11 is gas, not everything bought at a grocery store is groceries, and I would rather have NO information than BAD information.

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