Transfers & Payments

A transfer is money moving between your own accounts — like paying a credit card from your chequing account, moving money to savings, or contributing to an investment account. Transfers aren't income or expenses; they're just moving your money around.

When you sync accounts, Cadence may import both sides of a transfer (the outflow from one account and the inflow to another). Cadence's smart categorization system identifies common transfer patterns and categorizes them as “Transfer” to prevent them from affecting your budget totals.

When you pay your credit card from a synced bank account, two transactions appear: a debit from your bank and a payment on your credit card. Both are categorized as transfers so the payment isn't counted as spending and the bank debit isn't double-counted.

If a transfer isn't automatically detected, you can manually change its category to “Transfer.” This removes it from budget calculations while keeping it visible in your transaction history.

Transfers don't change your total net worth — they simply move value from one account to another. Your net worth only changes when you earn income, spend money, or your asset values change.