I’m NOT a globalist! In this blog, I’d like to rant about how the types of transactions (spending or income) and the categories are STANDARDIZED.
For example, I’m currently testing out a financial app for Mac to help me budget and just record stuff for my family. And I noticed that the financial institutions do NOT code or use the SAME item descriptions for the same stuff!
I noticed that the credit card transactions are VERY well-organized and labeled clearly, especially the category describing the type of transaction, such as Food & Dining, Auto & Transport, Health & Fitness.
Whereas other types of financial vehicles, such as savings, checking, investing – those descriptions are NOT consistent! The stuff contains jumbled crap! I know! Because when I tried to ‘code’ receivables, I was having a difficult time researching and pulling supporting documents, especially for ‘wired funds’ – I hated those! Jumbled text of crap!
Anyway, can y’all please standardize everything and across the board? This is a good way to crack down on UNCATEGORIZED, unassigned, unidentified crap load of funds! And thereby we can avoid guessing and throwing everything away into a generic 9999 black budget garbage can of ‘fund’.
So the next time I download my personal account stuff, I’d like to see clear and specified PAYEE, PAYOR, whatnot, and NOT a bunch of jumbled crap, such as generic xfers, generic funds received, or other dot crap from wherever to whatever! WTF? Where’s the transparency?