This article addresses some Frequently Asked Questions about the changes in Categories in Wallet 4.
Why did BudgetBakers change categories?
The reason why we changed the category structure from a fully customizable one to a defined category structure is because of the automated integration with banks and auto-categorization system we implemented in Wallet 4. Now your recent transactions and all new transactions will be automatically categorized for you. This new machine learning algorithm will sort your records into categories, starting with brand new main categories and subcategories. We believe that with these changes Wallet 4 offers much more value.
Can I downgrade to the previous version rather than switching to the new category system?
Unfortunately, it is not possible to go back to the previous version of Wallet.
I’m an existing customer. How do the changes affect me?
This change will affect all users, and will require some adjustments in the way you use Wallet. You will be asked to select which categories you wish to retain from your current system, and you will then be able to import them into the new system. Your old categories will be moved into new master categories and subcategories according to this new system.
Can I edit Wallet's default categories?
It is currently not possible to add, edit, delete or rearrange any of Wallet's pre-existing Main categories. However you can hide and rename Wallet's subcategories. You also have the ability to create your own custom subcategory.
Can I switch new categories ON/OFF?
It is not possible to switch new categories off.