Accounts, transfers and checking the balance

An account is a place where your money is: a bank account, a cash box, a company card, PayPal or another e-wallet. Every record goes into or out of one account, so Finances always knows each account's balance.

Go to Finances → Accounts. Each card shows the account's kind, currency, balance and when you last checked it.

Add an account

1. Click Add an account (1).
2. Type a Name (1), for example Company Visa or PayPal.
3. Choose the Kind (2): Bank, Cash, E-wallet, Card, Online payments or Other.
4. Choose the Currency. An account keeps its currency: add another account for another currency.
5. Type the Opening balance (3) and the date it's On: what the account held at the start of that day. For a card you've just started tracking, that's usually 0.
6. Add a Note if it helps, for example the last 4 digits.
7. Click Add account (4).

Move money between your accounts

Taking cash out of the bank, or paying off the company card, isn't income or an expense: it's a transfer.

1. Go to Finances → Money in & out and click Transfer.
2. The Type says Transfer (1).
3. Choose the From account (2) and the To account (3).
4. Type the Amount (4) and a description, then click Add.

The amount leaves one account and arrives in the other. A transfer has no category and doesn't count in profit.

When the two accounts use different currencies, an Amount that arrived field appears. Type what actually arrived, for example after a bank's exchange.

Check the balance

Now and then, compare an account with your bank app, card statement or cash box. Finances reminds you on the Overview when an account hasn't been checked for 30 days.

1. On the account's card, click Check the balance (2 in the Accounts picture).
2. Choose the date On, and type what Your bank or wallet shows (1).
3. Click Check.

If the amounts match, the account is marked as checked. If they don't, Finances shows the difference (2):

4. First look for a missing record: click Look at the records first.
5. If the difference is bank fees, interest or a cash count, type a Reason (3), for example Cash count, Oct 28.
6. Choose the Category. "Balance adjustments" isn't counted in profit; choose Bank and payment fees if that's what it was.
7. Click Add the adjustment (4).

Finances adds a money-in or money-out record for the difference, so your records match your bank. This replaces the "bank reconciliation" of accounting software.

Change, archive or delete an account

• Change: rename it, change its kind, note or opening balance. The currency can't change.
• Archive: hides an account you no longer use from the forms. Its records stay in your reports. Click Bring back to use it again.
• Delete: only shows for an account with no records.

Accounts in other currencies

When an account isn't in your main currency, its card also shows about how much it's worth in your main currency. If Finances has no exchange rate yet, it says No exchange rate yet: enter a rate in Finances → Settings → Currencies, so the account counts in your totals. Leave a rate empty to use Store's daily rates (when Store is on) or the last rate you used.