Thanks. I thought Iād gone a bit loopy - but it does seem to make sense to stay here. Unless anyone has any major concerns?
This came to me after someone asked if I could go to the shop for them, there should be an option to request someone to cover the entire cost of a transaction. Then, once itās been transferred, take it off the Spent Today total so as to help keep better track of your own personal spending.
Do they not have a card? Any card?
There are a number of categories you can select and Iām sure you can find one that fits. With Monzo.me or transfers I canāt see what the issue would be here.
Seconding others posts about this!! I regularly receive payments from other monzo contacts and I would really like to be able to allocate their payment to one of my target spending areas. So, if Iāve spent 20Ā£ on eating out but half was for a friend, their payment to me would top up my eating out allocation again, rather than just floating in my remaining balance!?
Hi!
Iāve paid an invoice which Iāve shared with other 2 friend. They pay me back but still the invoice appears like Iāve spent he full amount inside āBillsā. Iād like Rob find an option where you can allocate the money coming in and deducted from were I spent it in first place. I hope this make sense haha
Thanks!
RaĆŗl.
This was also brought up here:
Adding another voice to this issue. You should definitely be able to allocate incoming and outgoing payments to a spending category and have the spending tracker properly reflect debits and credits. It seems like this feature has been on the roadmap for a long time now.
The budget tracking within monzo is one of the killer features and primarily why I use it. The same goes for my friends who have monzo. But as I use it more and more to split payments with other people, the lack of proper category allocation is starting to make it pointless. My total spend per category is almost never reflective of reality.
Plus one - now that Iāve used it for a few months I have to remember which month it was that I was the one that paid for the group meal, so I can discount looking at that month.
When is this going to get fixed, I canāt imagine itās that hard and many others must be frustrated by this? My āspendingā tab is 90% pointless, I pay for all nights out with friends and they pay me back (sometimes via monzo.me, or sometimes they just send me the money via Monzo without me requesting it), - I have no way of attributing received money to a category! So it looks like im spending double what I am!
Please help =]
At the moment the Monzo team are concentrating on developing, testing and launching the current account. When thatās done - Iām sure weāll get our fluffy extras. I also look forward to this feature.
Hey all, this is very much on our list of things to fix up once weāre feeling good with the first version of current account functionality. Donāt worry, weāve got you!
Iām all for categorising inputs also
Just as mentionedā¦ I buy something for someone else and then get that money or part of it back from themā¦ it should get credited back to the category that it came from since itās not really me spending my money.
If you do this too much in a month the budget spending report becomes totally pointless currently.
Any update on this?
The categorisation for payments received is there (although buggy on Android) but spending by category report is still not picking them up.
Hey, weāve just kicked off a project to rethink the Spending tab, so that it makes more sense for current accounts (considering income, committed spending, salary cycles, etc), as part of that we are going to try and address the issue of inbound payments, and how they balance the books.
The main sticking point so far so far is how to handle receiving a categorised payment before making any spending in that category. Should it show as negative spending? Income? Any ideas are welcome!
shouldnāt any incoming payments go straight into a (new) payments / receipts category as a credit to your account and then be re-categorised by the user. The category would include any salary credits or reimbursements from friends etc for re-categorisation and keep track of your salary in to Monzo whilst splitting off any repayments from friends into separate already set up categories - which really annoys me in my spending record search / targets at the moment
I was going to say pretty much the same as Ian so I wonāt repeat what he said, just confirm my agreement to this methodology
Nice, thatās one approach for sure, but we want to avoid people having to manually categorize too much - so would like to find an approach where things land in the right place automatically most of the time. As with most things, weāll put together a prototype to get feedback - so watch this space
Most of my received payments (excluding top-ups) are as a result of splitting a transaction. Ideally Iād like the category of the transaction that was split to be applied to all the resultant payments back.
but without knowing when youāre going to receive the repayment how would you know how to categorise it - it wonāt necessarily be coming from the same location or at the same time or from the same bankā¦ hmmmmā¦ much as I would love automatic categorisation I would be happy to know in my new āpayments/ receiptsā category that somebody had reimbursed me, or not , and for me to re categorise it. It would then debit my "payments / receipts " category and credit the ātargetsā category that Iāve chosen and give me an accurate amount of what Ive spent -which has been a well documented whinge about targets and repayments from the start
Iād rather it just hit income; and then if need be can be re-categorised elsewhere as suggested above.
It would be great if that income could be split between two categories too. For example, I could pay for drinks at one place and food at the next, then somebody could send me a combined payment. Iād then be able to split this into the needed categories.
Monzo could be clever about this I guessā¦ and prompt if this income relates to transactions A and B based on a combined value? So if half of transaction A (drinks) was Ā£3.00 and half of transaction B (food) was Ā£15 if I receive Ā£17 then Monzo automatically asks if that corresponds to a split bill payment? Could again work for 3,4, and 5 way splits.