Choose a starting point

Your opening balance is the amount in the account before the first transaction you enter. If you start tracking today, use today’s starting balance. If you enter older purchases, use the balance before those purchases.

Add an account

  1. Open Accounts and use the add control.
  2. Give the account a clear name, such as Cash Wallet or Cheque Account.
  3. Choose its currency and enter the appropriate opening balance.
  4. Save it, then open the account and check that the starting balance is what you intended.

Use the currency of the actual account. A travel wallet in another currency belongs in its own account; changing the account name alone does not change the currency.

Treat a credit card as its own account

Record purchases against the credit card account. When you pay the card from cheque account, record a transfer between those accounts. The purchase is the expense; paying off that recorded purchase is money moving between accounts.

If you already owe money on the card when you begin, include that debt in the opening balance. Check the resulting balance before entering your new purchases.