I am just starting to use Skrooge and am in the process of setting up my accounts and categories.

Is a category essentially an expense or income?

I would also like to know what the best way to set up categories is. The default list when starting the program is a relatively flat list. What would be the drawbacks or advantages of having a structure as follows:
Income
-Banks
-1st Bank Interest
-Other Bank Interest
-Job
Expenses
-Financial Institutions
-Online Brokerage
-trading fees
-Banks
-1st Bank Service Fees
-Other Bank Service Fees
-Utilities
-Sewer and Water
-Internet
etc.

Thank you for any assistance,
James

Whatever drawbacks or advantages of a set of categories, you can rework (rename, move, ...) categories when you want by drag et drop and massive update.
So, you can start with a set and change it later if needed.

Thank you for the response. It is good to know that I can move the category entries without "breaking" the existing transactions.

Am I correct in my understanding that a category is essentially an expense or income?

Thank you,
James

jamesbr wrote:Am I correct in my understanding that a category is essentially an expense or income?

I don't really understand the question.
Category is essentially to know details of your expense or income (example: food, car, insurance, ...)

I was trying to determine what should be in listed in Categories. As I understand it, it should be all the locations your money comes from (job, interest income, etc.) or where it is spent (expenses).

Thanks,
James