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A good feature to have would be Automatic rules. These would be processed whenever a transaction is created, which is especially useful when transactions are imported enmasse via CSV etc.
At its most basic this would allow for rules such as if the description fit a certain pattern, apply a particular category. More features could be added such as if it fits a pattern, rename it according to some logic. This feature is present in firefly III and also in another tool ive used, https://www.buxfer.com/. They can be looked to for specific inspiration.
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