Categorise bank transactions

Fields

• Statement line, as the bank shows it

Questions

1. Which spend category does this statement line belong to? Choice

   Go by what the merchant or payee sells, read through any processor prefix. Pick one option.

   • Meals and entertainment Cafes, restaurants, bars, food delivery and catering.
   • Travel Trains, flights, taxis and ride hailing, hotels, car hire, fuel, parking and tolls.
   • Software and cloud Software subscriptions, app stores, cloud hosting, domains and other online services used to run the business.
   • Office and equipment Stationery, furniture, computers and phones, printing, postage and office supplies.
   • Advertising and marketing Ads on search and social networks, sponsorships, event stands and marketing agencies.
   • Professional fees Accountants, lawyers, recruiters, consultants and freelancers paid for a service.
   • Rent and utilities Office rent, coworking space, business rates, energy, water, broadband and phone lines.
   • Bank and card fees Account fees, card fees, foreign transaction fees, interest and charges from the bank itself.
   • Not spend Money moved rather than spent: salaries, tax payments, loan repayments, transfers between our own accounts and customer receipts.

2. Does the statement line look like a recurring subscription or membership charge? Yes / No

   Judge this line on its own. Count a merchant that mainly sells by subscription, such as software or streaming, or words such as SUBSCR, MONTHLY, ANNUAL, RENEWAL, PLAN or MEMBERSHIP. Yes: The line looks like a subscription or membership charge. No: The line looks like a one-off purchase or payment.

3. Was the payment on this statement line made in a currency other than pounds sterling? Yes / No

   Count a currency code or symbol other than GBP or £, such as USD, EUR or $, or a note of an exchange rate. A merchant abroad that charged in pounds does not count. Yes: The line shows a currency other than pounds sterling. No: The line shows pounds, or no currency other than pounds.

4. Is the statement line a refund, reversal or chargeback rather than a payment out? Yes / No

   Count words such as REFUND, RFND, REVERSAL, REV, CR or CHARGEBACK next to a merchant. Yes: The line returns money from a merchant. No: The line is a payment, fee or transfer out, or does not say.

5. Is this a kind of purchase that is usually personal, so the finance team should ask what it was for? Yes / No

   Count groceries, clothing, streaming and gaming, gyms, personal care, gifts and household goods. Meals, travel and software used for work do not count. This flags the line for a question, never a judgment about the cardholder. Yes: The line is for something usually bought for personal use. No: The line is for something a business usually buys.

6. Can the merchant or payee be told from the statement line? Yes / No

   Answer No when the line shows only a processor and a code, such as "PAYPAL *X7Y2K", a bare reference number or a truncated name that could be many businesses. Yes: A careful reader could tell who was paid. No: The line does not show who was paid.

Lens columns

category, category_probability, looks_like_subscription, looks_like_subscription_probability, foreign_currency, foreign_currency_probability, refund_or_reversal, refund_or_reversal_probability, check_business_purpose, check_business_purpose_probability, merchant_identifiable, merchant_identifiable_probability