Incoming payment categorisation

The current integration of monzo.me for bill splitting is very much a “version one” release. We hear you all and it will be improved over the coming months :grinning:

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A post was merged into an existing topic: Categorising payments sent by other Monzonauts!

Currently only expenses are categorized.
What about categorizing the incomes as well?

Hi,

My girlfriend and I are finding the repayment features really helpful for casual spending. However, we have both noticed that when a portion of a payment is requested via MonzoMe, that portion is not deducted from the monthly spending record.

i.e. I spend £10 on a round of drinks, and request £5 from my partner. She repays me via the MonzoMe link. The £5 that she has repaid me is not deducted from the £10 in my spending record.

I hope this is something that can be changed since otherwise spending records (which are an attractive and useful feature) will become inaccurate over time, especially if large purchases are made.

Thanks!

I’m a relatively new Monzo user; I use it mostly to keep track of my discretionary spending.

I just discovered that it doesn’t include incoming money in my spending report or transactions. I just ordered some takeaway and paid £28. My friend immediately sent me £10 for her share of the food (she also has Monzo). I categorised that incoming money as eating out, same as my spend. I expected my eating out total to then be £18, but it seems to have ignored the +£10. That’s not ideal for me, as I didn’t actually spend that £10.

Is there a way to get it to include + amounts in the totals and in my categorised transactions? I assume i could use the split function but that seems quite clunky to use with a friend who has Monzo, as it seems to use monzo.me only.

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I agree that this is annoying. It’s one of the gripes I mentioned in Difficulty accounting - specific feedback for improvement.

I’m looking forward to this being solved too! It’s going to have to be, in order to make bill splitting really work the way that it needs to too.

Here’s my roundup of the key points from earlier in this topic on this -

Click the :arrow_down: in the top right hand corner of the quote to see the posts I’ve linked to.

I’ve moved your post here as it follows on nicely from the earlier discussion about this functionality & it’ll help other users to keep all of the information in one place. I hope that’s ok :slight_smile:

I’ll talk through my situation as that might explain it better:face_with_monocle:

Yesterday I bought 2 tickets to the new exhibition at the maritime museum - It’s awesome. Used the monzo card for the purchase and £18.40 was deducted from the correct balance of the target I had set for entertainment. So far so good.

I then split the total cost of the ticket with the girlfriend using my mozo.me link and her payment reached my card no problem. But here in lies the problem… I have no longer spent the original £18.40 as the girlfriend has now paid her share but the target tracker still has me down as spending the original amount.

Loving tech but not being able to create it, I have no idea how difficult it would be for the behaviour to change. I imagine the linking of a note to an added transaction might be able to help link? Original purchase given a note of ‘museum exhibit’ monzo.me link also given the note ‘museum exhibit’. App goes, " Ah, he must be recouping some of the cost." I’m sure it’s not that simple.

While this was just a small transaction, if I was covering dinner for a group of friends and the cost went over my target but I split the bill, well then I haven’t really used up all my target spend for the month.

Side note - custom target start dates. I get paid last working day of the month so having my target start and end date being like that would be great. Thanks for te hard work and keep on doing what you do.

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Welcome to the community :slight_smile: it’s great to see a detailed description of your use case. There’s been some discussion about the need for this functionality before so I’ve moved your post here, I hope that’s ok!

The option to set the start & end dates for your Targets is definitely on the way :tada:

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I just went shopping and for example spent £50 on groceries. I split the cost with my flat mate using the cost splitting feature with monzo.me (£25 each).

I have a target to spend £100 on groceries this month.
It showed I used £50 from £100 after purchasing. (Like expected)
Then I split the cost.
I would expect this to update the targets. But it doesn’t.
It still shows I have spent £50 on groceries, when in fact I have only spent £25 on groceries after using the splitting cost feature.

TL:DR
I think that the splitting cost feature should update the targets section.

I hope that makes sense :bulb: :mondo:

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This is coming in future updates, and I cannot wait either!

My friend and I are going on holidays together and we are planning on splitting incoming hotel charges etc. via Monzo.me. I noticed that after splitting costs, the full amount is showing under Spending.
E.g. I paid for a £40 taxi fare which I am sharing with three friends via Monzo.me. Effectively I only paid £10 but it would still show as £40 spent for Transport in my account.
Is there are plan to change this as this will make it very difficult to get an accurate picture of your expenses.
Thanks!
Valentina

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Hi guys,

Searched for this and found a post from February with exactly what I’m thinking.

Can anyone give an update on if this is something they’re looking at?

Thanks.

Had the exact thought! My friends and I always pay for each other at meals etc and we all end up sending money between us. Would love to be able to deduct this incoming money from certain categories! Would give Monzo users a more accurate picture of their spending. :blush:

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Hi, I’ve moved your post here to keep all of the discussion about this idea in one place.

I’ve put rounded up all of the latest updates in this post, earlier in the thread. I hope that helps :slightly_smiling_face:


If you’d like an update for any other ideas / bugs, feel free to post a reply in it’s topic’s thread & that’ll bump the topic :slight_smile:

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Hi,

It would be really useful to have a way to categorise incoming payments. For example all the household bills come out of my account along with the rent. My girlfriend sends me a lump sum at the start of the month to contribute to these outgoings, I’d like to categorise this as bills to deduct off the overall sum out.

Sorry if this was meant to go in ideas!

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I’m with you on this. My girlfriend makes several payments across a month towards some of our shared bills, e.g a payment of £12 towards Apple Music and Netflix and so on. It would be great if I could categorise these payments to reduce the spending per category. Even better if monzo worked out it was regular and learned what to do with them.

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Hi yes can I add I would like to see some kind of category for income rather than general.

At least to split income from wages/salary from other types.

Does anyone else agree?

So this was just merged into

MONTH SPEND OPTIONS

yet was started as a thread to ask essentially for

BUDGET CATEGORIES; REQUEST TO ADD CATEGORIES TO INCOMING PAYMENTS

does the person who did this see how SPEND is an expense

and INCOME is not a spend? The topic now does not relate to the request!

This makes me not want to bother feeding back

Anyway, forget my petty gripe

I have nearly completed my complete switch to Monzo CA, I am [very] happy and [redacted by me]

Taken a bit personally here. My mistake.

I’ll fix this tomorrow.

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