From time to time, you might see transactions that end up lumped into a income source tracker where they don't belong.
Currently we match on a set number of characters at the beginning of the merchant name string, which causes issues when Level encounters credits whose names start with the same text strings.
A common example of this is the string "Deposit". Some banks will append this to the front of all credits to your accounts. This means that when you select "Deposit - Paycheck" as an example transaction for your Income Source, all other transactions beginning with "Deposit" will also be tracked along with your paycheck, inflating your monthly income value. While we would all love to be making more money, this phenomenon doesn't quite help with budgeting!
If your bank does this (or if your Income transactions just have common names shared with other transactions), you can workaround the issue by renaming your income transactions before setting them as examples, to break the pattern matching.
To do this, follow these steps:
- Delete the Income Source that's pulling in the unrelated items. We will want to start with a fresh slate.
- Navigate to your Home feed and tap into the transaction you want to use at the example transaction for your Income Source.
- Edit the most recent transaction only if you want to start tracking that income source moving forward.
- If you want to track those income transactions historically, you will need to edit each copy of the transaction in your history.
- If you only have one income source, we suggest adding an "*" to the front of the transaction name as the easiest solution.
- If you have multiple income sources, we suggest renaming them completely, to reflect the source of the income itself. e.g. renaming "Deposit - Paycheck" to "Paycheck"
- All of the transactions from the same income source should have the same name, but must be different from other income transactions.
If you have any more questions on how to do this, please contact our support team, and we'll be happy to walk you through the steps above for your account.