What is what
Transactions that the user does not wish to be treated as income or expense can be removed from the income/expenses analysis by creating a rule and selecting “Eliminated” as the rule type. Such transactions can be transfers between own accounts or between family members, and transactions related to investments.
Example (elimination rule)
The user has accounts with two banks and both accounts are entered into the MyFinancier app. The user does not want to see the transactions between his/her own accounts as income and expenses in the analysis. To do this, the user makes an elimination rule that removes from the analysis the transactions where the payer/recipient name is the user’s own name.
Similar to the creation of a grouping rule, there are two ways to eliminate transactions: creating an elimination rule based on an existing transaction, or inserting a rule from the “Rules” view.
Creating an elimination rule based on an existing transaction is much easier and more time-saving than creating a rule from the “Rules” view, because in this case the fields on the form are already pre-filled. To do this, click on the three dots at the end of the transaction in the “Transactions” or “Income/Expenses” view and select “Add rule” from the drop-down menu.
A form will then open with the conditions fields already pre-filled with the data in the transaction. To create an elimination rule, you must select “Eliminated” as the rule type on the form.
However, if you want to create an elimination rule by filling in all the fields yourself, you can do this by clicking on the “Add rule” button in the “Rules” view. The form will then open in the same way as when creating a rule from a transaction, but the fields on the form will not be pre-filled. Again, to create an elimination rule, be sure to select “Eliminate” as the rule type on the form.
How to enter accounts and import transactions into MyFinancier?
What is a rule and how is it most convenient to create them in the app? What should you keep in mind when creating a rule?