Topics
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- Register as a User
- Reset your Password
- Create a Bank Account / Asset
- Share an Account with a Friend
- Reconcile an Account
- Adjust the Balance of an Account
- Attach an Invioce for a Transaction
- See more information for a Transaction
- Set up an Investment
- Add a Category / Beneficiary / Investment / Payee
- Add a Subcategory
Account Types
Most account types (Cash, Current, Savings, Liabiilty, Credit) are functionally the same and you can change an account from one type to another.
The intent of each is as follows:
- Cash:Money you carry around or hide under the mattress.
- Current:A basic bank account. One you'd normally withdraw from at the ATM.
- Savings:A bank account designed to gain interest.
- Credit:An account to access the bank's money to be repaid later. It will usually have a negative balance.
- Liability:A loan account, often attached to an asset. It will usually have a negative balance.
An asset could be a property, a car, a piece or artwork or something else that has value. Assets have very specific transactions (Purchase, Purchase Costs, Valuation and Sale) so once an account is created as an Asset, it can’t be changed.
