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Overview

Money Tracker uses advanced AI to automatically extract transaction information from emails and uploaded documents. The AI agent analyzes text content, images, and PDFs to identify financial transactions with high accuracy.

AI Engine

Money Tracker uses the Grok-4-1-fast-non-reasoning model from X.AI, optimized for:
  • Fast processing speed
  • High accuracy in financial data extraction
  • Multi-language support
  • Image and document understanding

What the AI Extracts

The AI identifies and extracts these fields from emails and documents:

Transaction Type

Determines if money was received (income) or sent (expense)

Merchant

The company or person involved in the transaction

Amount

The transaction value (numeric)

Currency

3-letter ISO code (USD, EUR, ARS, etc.)

Date

When the transaction occurred

Category

Automatic categorization (food, transport, etc.)

Description

Additional context about the transaction

How Email Extraction Works

1

Email Reception

When a new email arrives in your INBOX, Money Tracker receives a webhook notification
2

Content Preparation

The system extracts:
  • Email body text (plain text preferred, HTML as fallback)
  • Email subject and sender
  • Image attachments (JPG, PNG, GIF, BMP, TIFF, WebP)
  • PDF attachments with text extraction
3

Context Building

The AI receives:
  • Your full name (to determine income vs expense)
  • All email text content
  • OCR text from images
  • Extracted text from PDFs
4

AI Analysis

The AI model analyzes all content sources to:
  • Determine if a transaction exists
  • Extract transaction details
  • Return a confidence assessment
5

Transaction Creation

If a transaction is detected with sufficient confidence:
  • Data is saved to your transaction list
  • You’re notified (if notifications are enabled)
If no transaction is found:
  • The email is marked as “discarded”
  • It won’t be processed again in future imports

Income vs Expense Detection

The AI uses sophisticated logic to determine transaction direction:

Income Detection

  • Sender keywords: “deposit”, “payment received”, “transfer from”, “salary”, “refund”
  • Context clues: Your name appears as recipient
  • Banking language: “credited to your account”, “incoming transfer”

Expense Detection

  • Sender keywords: “purchase”, “payment to”, “charge”, “debit”, “withdrawal”
  • Context clues: Your name appears as sender/payer
  • Banking language: “debited from your account”, “outgoing transfer”
Providing your full name in user settings helps the AI accurately determine income vs expense

Currency Detection

The AI identifies currency using:
ISO 4217 codes like USD, EUR, ARS, GBP are recognized immediately
$ (USD), € (EUR), £ (GBP), etc. are detected and converted to ISO codes
If currency is ambiguous (e.g., just ”$”), the AI uses:
  • Email sender location/domain
  • Language of the email
  • Country-specific formatting
  • USD (US Dollar)
  • EUR (Euro)
  • GBP (British Pound)
  • ARS (Argentine Peso)
  • MXN (Mexican Peso)
  • BRL (Brazilian Real)
  • CLP (Chilean Peso)
  • COP (Colombian Peso)

Category Classification

The AI automatically categorizes transactions into 11 categories:
CategoryExamples
SalaryPayroll, wages, income deposits
FoodRestaurants, groceries, food delivery
TransportUber, gas, public transit, parking
EntertainmentMovies, concerts, subscriptions, games
HousingRent, mortgage, utilities, repairs
HealthDoctor visits, pharmacy, insurance
EducationTuition, courses, books
ServicesSubscriptions, memberships, professional services
ClothingApparel, shoes, accessories
InvestmentStocks, crypto, retirement contributions
OtherAnything that doesn’t fit above

Document Upload Processing

When you upload a receipt or invoice:

Image Processing

1

Image Upload

Supported formats: JPG, PNG, GIF, BMP, TIFF, WebP (max 3MB)
2

Image Analysis

The AI directly processes the image using vision capabilities:
  • Reads text from the receipt/invoice
  • Identifies structured data (amounts, dates, merchant names)
  • Understands layout and context
3

Transaction Extraction

Extracted data is validated and saved as a transaction

PDF Processing

1

PDF Upload

Maximum size: 5MB
2

Text Extraction

Money Tracker extracts all text content from the PDF
3

AI Analysis

The extracted text is sent to the AI for transaction identification
4

Transaction Creation

If a transaction is detected, it’s saved to your list

Multi-Language Support

The AI processes emails and documents in multiple languages:
  • English
  • Spanish
  • Portuguese
  • And more…
The AI preserves the original language of merchant names and descriptions - it does not translate them

AI Confidence and Accuracy

Confidence Scoring

While individual transactions don’t show confidence scores, the AI internally evaluates:
  • Clarity of transaction information
  • Presence of required fields (amount, merchant, date)
  • Consistency of data
Low-confidence transactions may be skipped to avoid false positives.

Quality Factors

Accuracy is highest when emails contain:
  • Clear merchant names
  • Explicit amounts with currency
  • Specific dates
  • Transaction-related keywords
  • Structured formatting (tables, invoices)

False Positives

The AI is designed to minimize false positives by:
  • Requiring explicit transaction indicators
  • Skipping promotional emails
  • Ignoring advertisements
  • Filtering out email signatures and footers

Fallback Processing

If the AI service fails, Money Tracker uses keyword-based fallback:
  1. Searches for transaction keywords: “purchase”, “payment”, “charge”, currency symbols
  2. If found, creates a basic transaction with:
    • Merchant: Email sender
    • Amount: 0 (requires manual update)
    • Category: “uncategorized”
Fallback transactions require manual review and editing

Email Discard Logic

Emails without transactions are “discarded” to improve efficiency:
  • Stored in a discarded_emails table
  • Won’t be re-processed during future email imports
  • Prevents duplicate analysis
  • Reduces AI processing costs

Discard Reasons

  • “No transaction detected” - AI didn’t find financial data
  • “Invalid transaction: amount is 0” - Detected transaction but amount was zero
  • “AI processing failed” - Technical error during analysis
  • “User discarded transaction” - You manually deleted the transaction

AI Processing Metrics

The Dashboard shows AI activity stats:

Emails Processed by AI

Total number of emails analyzed

Transactions Found

Emails that contained valid transactions

Emails Skipped

Emails discarded (no transaction found)

Best Practices

Maximize AI accuracy with these tips
  1. Keep your Gmail inbox organized: The AI only processes INBOX emails
  2. Don’t delete transaction emails: Let the AI process them first
  3. Provide your full name: Helps the AI determine income vs expense
  4. Upload clear documents: High-quality images and PDFs improve accuracy
  5. Review auto-extracted transactions: Verify category and merchant names

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