Money Manager EX allows assigning to every transaction a payee and one or more categories.
Payees are the people or institutions that give us money, or the people or institutions that we pay, for our goods and services. It’s possible to associate a specific category to the payee, in this way it’s possible to have category pre-loaded when inserting new transactions.
A Category is generally used to record Income or Expenses. Because MMEX allows us to transfer money between accounts, it is also recommended to use categories to record transfers. This will allow us to determine what money is being transferred for a specific reason, such as a repayment to a loan. This will not be seen as an income or expense in the overall picture.
When adding a new transaction, we can use more that one category to record a transaction. This is known as a split category. The overall split category transaction is either a withdrawal or a deposit. Although the categories within the split, need to reflect the overall transaction type, each category can be classified as a withdrawal or deposit within the split. Split categories can easily be viewed for a transaction by using a pop-up menu selection when a split category entry exists.