Account types and what they hold
Cash, bank, wallet, credit card or other — and what changes depending on which you choose.
Last updated 15 August 2026
An account is anywhere your family’s money sits, or is owed. Every expense comes out of one, and income lands in one.
The five types
An account is cash, a bank account, a credit card, a wallet, or other. The Accounts page groups them under those headings, and a group with nothing in it does not appear.
The type matters most in one respect: a credit card holds money owed, while everything else holds money you have.
Bank account · HSBC ••••1234
Adding an account
On mobileMoreAccountsOn desktopAccounts
Choose Add account. Name it something you will still recognise in a list six months from now — the bank’s name alone is rarely enough if you hold two accounts there.
Each account holds a single currency, chosen as you add it. Everything recorded against the account is in that currency.
The opening balance
The opening balance is what the account held on the day you began tracking it. It is a starting point, not a transaction. Leave it at zero for an account that is genuinely new.
On a credit card the same field asks for the amount already owed.
Do not record a starting balance as income
Money you already had did not arrive this month. Entering it as income inflates what the family earned and distorts every total that follows from it. The opening balance field exists so you do not have to.
Default member
An account can name the member that new entries are attributed to, so you are not choosing every time. It is only a default — any single entry can be filed against someone else.
Archiving an account you no longer use
An account you have closed can be archived rather than deleted. Its history stays intact and its balance stops cluttering the page. Archived accounts sit in a collapsed section at the foot of the Accounts page, and can be restored from there.