How the Red, Yellow, Blue and Green Color Coded Icons make Cheqbook special

Cheqbook works in a completely different, patented way, from other accounting software.

Instead of quarantining all the recently downloaded transactions and waiting for you to approve them, it color codes them instead.  This lets you know exactly which transactions need your attention.

  • RED transactions couldn't be categorized at all.  They didn't match any of your previous categories, or come with a rough category from Yodlee, our data provider.  These are all sitting in Uncategorized on your profit and loss and definitely need attention.
  • YELLOW transactions were tentatively categorized for you.  If you're in a rush to see just how you did financially, these can often be good enough.  We do suggest you review the yellow ones and approve them when you have time.  If they're good, just click on the yellow icon and they'll turn green.  If not, just select the payee from existing payees, or create a new payee and categorize it. 
  • BLUE transactions rely upon the work you did categorizing red and yellow transactions.  Each time you match a description with a payee and an expense category the system learns that, and then categorizes all current and future transactions this way.  If you made a mistake, you can edit the payee and it will offer to update all previously miss-categorized transactions after you save your changes.  You can learn more about how blue "engine" works here: https://cheqbook.zendesk.com/hc/en-us/articles/223330927-How-the-Blue-Categorization-Engine-Works-Mapping-
  • GREEN transactions were touched by a person.  Someone you've invited to your books changed or approved this transaction as is.  These are often the most accurate, except for human error. 

Interestingly the score for a typical company changes depending on what stage it is.  When they first link their accounts there will be mostly yellow and red transactions.  After they categorize them all the greens and blues will dominate.  Eventually, as the blue engine gets smarter the blues typically exceed all the others. 

You'll note we refer to the yellow and blue icons as categorization "engines".  These are the only two automated ones, with the blue being much more refined and powerful than the yellow.  

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