Income: Money you earn is considered Income. These have a positive value.

Expense: Money you spend is considered an Expense transaction. These transactions are automatically classified and organized into categories so it’s easy to track your spending. Expenses can be marked as Recurring if they are a monthly bill or subscription. See these articles to learn more about Recurring transactions.

Internal Transfers: Money you move between accounts, such as moving money from one checking account to another. These transactions are excluded from your spending budgets and analytics.

Occasionally the transaction type assigned could be incorrect, but you can easily fix it.

For example, this “Online Payment” was imported as an Expense; however, it is a transfer of funds from one checking account to another.

To change the transaction type, tap the edit icon in the upper right hand corner to open the edit view.

Tap on the Convert to transfer. Press Save.

Now you have a transfer and it's not included in your analytics and budgets.