Custom personal categories allow you to track personal income and expenses without affecting your tax summary.
You can create and manage them in three places:
while allocating transactions in Bank Feeds
from Money Tank when adding an income or expense budget
directly in Spare Tank when adding a personal income or expense transaction
This makes it easy to keep personal spending and income organised across all areas of TaxTank.
Option 1 – Manage Custom Personal Categories in Bank Feeds
Go to Bank Feeds and select the relevant bank and transaction.
Click the Personal icon.
While allocating the transaction, click Manage Custom to add, edit, or delete categories in the pop-up window.
Choose the appropriate category.
Click Allocate.
Once transactions have been allocated, you can still edit the category name or type, but not the allocation itself.
Option 2 – Manage Categories from Money Tank
When adding an income or expense budget in Money Tank, you can create and manage custom personal categories directly from the category field.
This is useful for budgeting and ongoing personal cash flow tracking.
Option 3 – Manage Categories from Spare Tank
You can now also create and manage custom personal categories directly in Spare Tank.
Navigate to Spare Tank from the left-hand menu and go to the Personal Transactions tab.
Click Add
Choose either Income or Expense.
From the category field, you can:
select an existing custom personal category
create a new category
manage existing categories directly from the pop-up
This is perfect for manually entering personal cash expenses, personal income, or transactions from accounts not linked to TaxTank.
FAQs – Custom Personal Categories
Q: What are custom personal categories?
A: Custom personal categories are labels you can create to track personal income and expenses. They do not affect your tax summary.
Q: Where can I create custom personal categories?
A: You can create them while allocating transactions in Bank Feeds, from Money Tank when adding an income or expense budget, or directly in Spare Tank when adding a personal income or expense.
Q: Can I edit a custom personal category?
A: Yes. You can edit a category name or type at any time.
Q: Can I delete a custom personal category?
A: You can delete a custom category before allocating any transactions. If transactions have already been allocated, you’ll need to reassign them to another category before deletion.
Q: Can I create multiple custom personal categories?
A: Yes, there is no limit. You can add as many as you need to track different types of personal income and expenses.
Q: Do custom personal categories affect my tax summary?
A: No. Custom personal categories are purely for personal tracking and budgeting.
Q: Can I manage my personal categories from Bank Feeds?
A: Yes. While allocating a transaction, click Manage Custom to add, edit, or delete categories directly.
Q: Can I manage my personal categories from Spare Tank?
A: Yes. When adding a personal income or expense in Spare Tank, you can create, edit, and manage custom categories directly from the pop-up.