One of my favorite things about Xero, an online accounting software, is its ability to automatically categorize transactions based on a customized set of rules. While other accounting software have some built-in automation features (such as pre-filling information from the last entered transaction for a payee), Xero is unique in that it categorizes transactions when they match certain conditions for payees, amounts, references, etc.
For example, I set up an automatic monthly payment on my bank’s online banking site for a …
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