Accounts Overview

Accounts Overview

An account in Moniqo represents somewhere your money actually lives, such as a checking account at your bank, a savings account, a credit card, a cash wallet, or a loan you’re paying down. Every account belongs to one budget, and every transaction you record happens inside an account. Think of your budget as the plan for your money, and your accounts as the real-world places that money sits.

Why Accounts Matter

Moniqo doesn’t guess your balances; it calculates them directly from the transactions you record in each account. That means the balance you see for an account is only as accurate as the transactions logged against it. Keeping your accounts up to date is what keeps the rest of Moniqo (your budget totals, your reports, your net worth) accurate.

Why You Might Need More Than One Account

Most people have more than one place their money sits: a checking account for everyday spending, a savings account for goals, maybe a credit card, and some cash. Adding each of these as its own account in Moniqo lets you:

• See an accurate, per-account balance instead of one blended number.
• Track spending and income separately for each account.
• Understand how much of your money is cash-in-hand versus debt you owe on a credit card or loan.

How Accounts Fit Into the Bigger Picture

• Accounts and transactions: every transaction you add is tied to an account, and it’s what actually moves an account’s balance up or down.
• Accounts and budgets: an account always belongs to a single budget and can’t be moved to a different one later, so choose the right budget before you create it. See Understanding Budgets if you’re not sure how budgets and accounts relate.
• Accounts and reports: your account balances feed directly into summary figures like total cash, savings, credit card debt, and net worth.

Tips

• Add an account for every place you regularly spend from or save money in, so your picture of your finances is complete.
• If you’re only getting started, don’t worry about adding every account on day one. You can always add more later.
• If you manage more than one budget (for example, personal and a side business), remember accounts stay within the budget they were created in.

Next Steps

Ready to add your first account? Continue to Creating an Account for a step-by-step walkthrough, or jump to Account Types if you want to understand your options first.