You can categorize your transactions individually in the transactions table, or use our smart rules engine to automatically categorize your transactions that fulfill pre-set criteria.
Chart of Accounts (CoA)
To categorize your transactions, you need to set up your Chart of Accounts first. Follow the steps below to set up your CoA.
Navigate to Accounting → Chart of Accounts
There are five main Account Types: Revenue, Expense, Asset, Equity and Liability. You can manually add your COA under any of these categories. Once created, click on the checkmark to save the COA.
If you have a CSV file with a list of your COA, please follow these steps.
If you wish to import your COA from QuickBooks or Xero, Request Accounting helps you import them from QuickBooks/ Xero directly when you connect your ERP account to your Request Accounting team.
Tags
Tags provide an additional layer of categorization for your transactions. Follow the steps below to set up your Tags.
Navigate to the Tags page
Click on "Add new top level tag" and enter the tag name. Once created, click on the checkmark to save the tag.
You are free to create as many tags and sub-tags as required to organize your transactions effectively.
Automating Transaction Categorization using Rules
Rules automatically categorize recurring transactions, eliminating manual work. When transactions meet your defined criteria, Request Accounting applies the specified debit and credit accounts automatically.
Common Use Cases
Vendor and contractor payments
Subscription expenses
Gas fees
Revenue transactions
Creating a Rule
Example: Automatically categorize USDC payments to five vendors (Vendor 1-5) as:
Debit: Vendor Payments (Expense)
Credit: USDC (Asset)
Steps:
Navigate to Accounting → Rules
Click Create New Rule
Enter a Rule Name and select the applicable wallets
Define your conditions:
Receiver: Select Vendor 1, Vendor 2, Vendor 3, Vendor 4, Vendor 5
Token: Select USDC
Flow Direction: Outflow
Set logic to "meets all of the conditions"
Set your Rule Targets (debit account, credit account, and optional tag)
Once the rule is applied, all USDC outflows to these five vendors will be automatically categorized with the specified accounts.
Once rule processing is complete, you can navigate to the Transactions page to view your categorized transactions.
Other conditions that can be used to automate categorization include:
Condition | Description |
Sender | The sender of a token (either a pre-saved contact or wallet address) |
Receiver | The receiver of a token (either a pre-saved contact or wallet address) |
Token Quantity | The total number of tokens transferred in any transaction. Could be either an inflow or outflow |
Date | The date on which a transaction took place. Used to apply specific accounts to transactions that happened before, after or on a specific date. |
Token | The token transferred. Could be either an inflow or outflow. Eg: ETH, SOL, USDC etc. |
Gas Fee | Used only when the Gas Fee part of the transaction needs to be categorized |
Tags | Used to target transactions with certain tag(s) assigned. |
Transaction Type | The Type of transaction. Could be anything like Airdrop, Staking etc. |
Flow Direction | The direction of flow of funds. Could be Inflow or Outflow |
Internal Transfer | If the transaction is an Internal Transfer |
External Transfer | If the transaction is an External Transfer |
Network | The blockchain in which the transaction took place |
Sender Contact Type | The Contact Type assigned to a contact that initiated the transfer |
Receiver Contact Type | The Contact Type assigned to a contact at the receiving end of the transfer |
Need help creating rules? Please reach out to [email protected]