Can I create new categories?

We have included the most commonly used categories of expenses and income in Grassfeld, so you will see the correct picture of your funds distribution without any additional settings. Creating new categories is a great way to customize the interface of the application. It helps you find which expense categories to track, add to your budget, and show in the Analytics.

The main difference between default and custom categories is that you can edit, archive, and delete custom categories. You can also create not only categories, but also subcategories for a more detailed understanding of your expenses.

Choosing between a category or a subcategory

When organizing your finances, choose between a category or a subcategory. It depends on how you want to track your spending.

• You can link both categories and subcategories to transactions. You can also add them to budgets and set limits.
• The key difference lies in how they are displayed in Analytics:
  
  • A category will be shown independently in your analytics, providing a stand-alone view of the expenses or income.
  • A subcategory will be part of its parent category in analytics. This means reports will show a total for the parent category. It includes data from all its subcategories.

Subcategories roll up into their parent category. But, you can still track spending at the subcategory level when needed. This approach allows detailed tracking of specific expenses. It keeps the overall financial picture organized under a broader category. Read more about it here.

Step-by-step guide

1. You can create a new category from different places in the Grassfeld app, depending on your needs:

• From the categories section: you can create a category by going to the categories section and following the steps outlined below.
• While selecting a category: you can also create a new category directly when you're selecting a category for a specific task, like linking a transaction or choosing which categories to include in your budget. This flexibility makes it easy to organize your finances on the go.

2. Choose color and emoji: Start by selecting a color and an emoji for your category. Try to pick an emoji that helps you associate the expenses with the category—this visual aid can make it easier to navigate and identify later.
3. Add name: Give your category a name that clearly reflects the type of transactions it will include, like "Groceries" or "Utilities."
4. Select parent category (If creating subcategory): If you want the new subcategory, you'll need to choose a parent category to organize it under. This allows you to divide your expenses or income into more specific areas while keeping them grouped under broader categories.
5. Choose the type of category: The last step is to decide whether your category will be Fixed or Flexible:

• Fixed: choose this for categories like housing and insurance costs, because transaction amounts for these categories usually remain the same each month.
• Flexible: select this for categories like dining and entertainment, where the transaction amounts vary from month to month. Flexible categories help you track these fluctuations, and you’ll be able to see patterns and variations in Analytics.

6. Save Category: after completing all the steps, press the "Add Category" button. You’ll see a confirmation message: "New category has been added successfully."