boneburrito / budgetsimple

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Research: Transaction categories and Merchant Category Codes #19

Open brukeg opened 1 year ago

brukeg commented 1 year ago

Transactions need a category id which relates to a specific category description. Eg. transaction.category_id = transaction_category.id and transaction_category.id = 5542 = transaction_category.description = Automated Fuel Dispensers

We should use MMC https://en.wikipedia.org/wiki/Merchant_category_code. An MCC is used to classify a business by the types of goods or services it provides.

This will require updates to our database in the form of a new table transaction_categories. TBD.