Every income and every expense you record is classified into a category. Categories are what turn a list of entries into useful information: a category tells you where your money goes, feeds the reports, powers the budget and — on the business side — organizes the income statement. Getting your categories right early on is what makes everything else worthwhile.
The good news: you don't start from scratch. WiseData Finances ships with a set of ready-made categories, and you adapt everything to your own style.
Where to find them
Go to Settings → Categories. The screen is split into tabs:
Expenses — categories for what goes out.
Income — categories for what comes in.
Investments — categories for your portfolio.
Investment types — a specific investment classification (covered in the Investments guide).
Remember: the personal space and each company have their own categories. Before you make changes, confirm which space you're in.
Default vs custom categories
Each category shows a badge:
Default — comes built into the system. It can't be edited or deleted, but it can be hidden (see below) if you don't use it.
Custom — created by you. It can be edited and deleted freely.
Create a category
Pick the right tab: Expenses or Income (the type is set by the tab you're on).
Click New category.
Enter the Name and choose a color to identify it visually.
Click Create.
The name must be unique within the type — you can't have two expense categories called "Transport", for example.
Example: to separate car costs, create an "Transport" category in the Expenses tab with a blue color. From then on, every fuel, parking or maintenance expense can be tagged as Transport — and show up grouped in the reports.
Subcategories: detail within a category
Inside each income or expense category you can create subcategories, for one more level of detail. Click the category to expand it and use Add subcategory — just enter the name.
Example: in the "Food" category, create the subcategories "Groceries", "Restaurant" and "Delivery". That way you see not just how much you spend on food, but exactly on what.
Subcategories can also be default or custom, with the same rules as categories.
Hide instead of delete
Don't use a default category? Instead of trying to delete it (not allowed for defaults), click the eye icon to hide it. It disappears from the lists when adding an income or expense, keeping your forms clean — without affecting any past entry that already used it. Just click the eye again to show it once more.
Custom categories can be hidden the same way, or deleted for good when you're sure you no longer need them.
Investment categories
In the Investments tab you organize your portfolio into categories — here, besides the name and color, you can add a description. The Investment types classification is more specific and is explained in the Investments guide.
Tip
Start simple: tweak the default categories, hide what you don't use and create only the ones you're missing. You can always refine later — and the more consistent your classification, the more accurate your reports, your budget and, in the company, your income statement become.