Managing Accounts

Managing Accounts

Once your accounts are set up, day-to-day management mostly means keeping their details current and occasionally reconciling them against your bank or cash balance. This guide covers editing an account, reconciling it, and where your accounts show up elsewhere in Moniqo.

Editing an Account

You can update an account’s name, account number, institution, type, and settings (such as whether it’s included in your budget or requires reconciliation) at any time. Select an account from the Accounts page, then choose Edit to open the account’s settings. Note that the account’s balance can never be edited directly here: it’s always calculated from the account’s transactions, so to change a balance you need to add or correct a transaction instead.

Reconciling an Account

Reconciling compares your recorded transactions against your real-world statement and marks matching transactions as confirmed. Use Reconcile on the account to:

1. Review the transactions marked as “cleared” on the account.
2. Confirm they match your bank or card statement.
3. Mark the account reconciled, which stamps the date and moves those cleared transactions to “reconciled.”

Reconciling doesn’t change your account’s balance; it’s a check-and-confirm step, not a correction tool. If numbers don’t match, look for a missing or duplicate transaction instead.

Where Accounts Show Up Elsewhere

• Transactions: every expense, income, or transfer you record picks an account (or, for transfers, a “From” and “To” account). See the Transactions guide for more.
• Accounts page summaries: your active accounts roll up into Total Cash, Savings Balance, Credit Card Debt, and a Net Worth figure at the top of the Accounts page.
• Budgets: on-budget accounts (Checking, Savings, Cash by default) contribute to your available cash; Credit Card and Loan accounts are always tracked separately. See Account Types and Understanding Budgets.

Tips

• Reconcile regularly (monthly is a good habit) rather than waiting until balances look wrong, since small mismatches are much easier to spot early.
• If you use an account for more than one purpose, consider whether it’s time to split it into two accounts for clearer tracking.
• Renaming an account is safe and doesn’t affect its transaction history or balance.

Common Mistakes

• Expecting to fix a balance by editing the account directly. Since balances are computed from transactions, look for the transaction that’s wrong instead.
• Confusing reconciling with archiving or deleting. Reconciling is routine account maintenance; it doesn’t hide, freeze, or remove the account. For that, see Archive & Restore Accounts.

Next Steps

If an account is no longer active, learn when to Archive & Restore Accounts versus when you can safely Delete an Account.