Feature request: Auto detecting matching payment amounts, vendors and categories.

TimKTimK Member Posts: 41 ✭✭

Not sure how practical/feasible this would be but I am throwing it out there...

Most of my payments to vendors/suppliers/utilities are all processed through my online banking. They are all imported into Wave when my accounts sync with the bank. I HATE having to go through and categorize/match transactions and then merge/modify them every month.

I would love to see more automation. It would be really nice if the system saw an expense I entered and an imported transaction for the same amount....and at least suggested "hey, are these the same? Do you want to merge them?"

Or even "we imported this expense from your bank and the description says "Atlantic City Electric" - we noticed you have a VENDOR "Atlantic City Electric" would you like to mark this as a payment to that Vendor?

And maybe recognize a pattern...."We noticed that your previous payments to this vendor were categorized as "Utilities", would you like to categorize this as "Utility"? Would you like all future payments to this Vendor categorized as "Utility"?


edited August 30, 2018 in Wave Features


  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    You're in luck, @TimK, automated merge and automatic categorization are both something that we're working on right now!

    I don't have a timeline for the release of those features, but our engineers are really excited to be able to share them. It's coming!

    Automatically detecting vendor might be more difficult, since it's not something our bank connection system imports. The transactions from your bank connection only have 3 fields, as far as Wave sees: Date, Description and Amount. With that said, I'll absolutely share the feedback! Thank you!

  • TimKTimK Member Posts: 41 ✭✭

    Alexia, most banks include the vendor name in the description. See attached. As long as the Wave user enters the vendor name as it appear in their imported descriptions, the match shouldn't be that hard.... So for me, instead of having Wells Fargo as my vendor, I would have to change it to WF HOME MTG. Hopefully your engineers can incorporate vendor matching knowing this information is available.

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Thanks for following up, @TimK! I'll pass this on.

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