🏦 Accounts

❓ What is an Account

An account in Balancia is a logical container for transactions. It is the digital equivalent of a bank account, credit card, or any other financial account you want to track. Accounts help you organize your financial data by source and make it easy to monitor balances and activity. It is recommended that you make a 1:1 relation between your real financial sources and your accounts. Analytics can be performed across accounts, so don't worry about that.

Example:

• You have a checking account, a savings account, and a credit card. In Balancia, you can create an account for each and track transactions individually, while still seeing your overall financial picture.

🚫 When Not to Use Accounts

Accounts are not meant for grouping transactions by type or purpose. For example, if you want to see how much you spend on groceries or entertainment, use categories. If you want to label transactions for custom analysis, use categories or tags.

Note: Accounts are for organizing transactions by financial source, not by spending type. Categories and tags exist for grouping and classifying transactions.