Accounts

Overview

Accounts are money buckets money can come and go to. They are used to help you visualize where you money is in practice. Those accounts can be:

• A bank account with a credit card
• A investment account like a 401k, an equity fund, …
• A mobile app account like Revolut
• A liability that you own to someone
• A cash coin pig jar

Accounts can be of different types: Bank accounts, Investment accounts, Cash, Liabilities. On top of those types, there are two special types of accounts: Expense and Revenue.

Accounts are also aggregated into Periods and allow you to check that amounts are correct.

Account types

Bank accounts

Bank accounts are the most popular form of accounts and can be used for any account that has money on your behalf. They are usually tied to a bank, a mobile app, an organization, …

Investment accounts

Investment accounts are used for Investment activity types as they will help you reconcile those activities. They are usually money pockets on which an interest rate is computed, making money each year for example.

Cash

Cash accounts contain at least one default account named Cash. You can create more if you want to categorize where you put your cash: a pig jar, a safe, …

When you are debiting some cash or paying something with cash, you can use those accounts are temporary holders.

Liabilities

Liabilities accounts are made to represent money that you owe or that is owed to you. It contains at least one default account name Liabilities as well.

For example, if you pay for a friend at a restaurant, he will owe you money. This money is yours, but you don’t possess it in a bank account. We therefore say this money is in one Liabilities account.

Expense and Revenue

Expense and Revenue accounts may be hard to understand at first. They both contain at least a default account name Expense and Revenue. They are made to represent where you money can come from and where it could go in a macroscopic way.

When you spend money, you give money to an Expense account (which is confirmed by the reconciliation of Expense activities).

When you earn money, a Revenue account is giving you money (also confirmed by the reconciliation of Revenue activities).

You can create several Expense and Revenue accounts to have a big grasp of where you money can come and come and go, but a lot of users will be just fine with the default ones.

Starting period and balance

Accounts data can be visualized in the Periods in the second tab of the summary sliding panel. The Balance amount is also computed from the accounts balance.

As we don’t know the state of your accounts before using Banqr, you can specify a starting period and a starting balance for this period on each of you account in the settings.

Movements

You can choose for each account to enable or disable Movements for the reconciliation. You can toggle this option in the Account Settings.

Basics

Create an account

To create an account, head over to the Account Settings and click on the plus button on the account type section that corresponds to what you want to add.

Fill a name and click on the check button. You can then fill a starting balance and decide to enable or not movements for this account.

Delete an account

You can delete an account by clicking on the delete button on the right of an account. If the account is used in any transaction, it will not be possible to delete it.

Deleting an account will not delete any activity.