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Bank & Cash Accounts

You will find all your Bank & Cash Accounts in Accounting → Accounts. In that page you will able to-

  • See balances breakdown, cash flow. Like Total in and out & the current Balances
  • You can Record initial balance as Equity

What is Equity ?

Here, your initial Bank balance is considered as Equity. In reports the initial balance will not be considered as Income or Expense. 

Your bank balance will be calculated as Follows-

(Total Equity or Initial Balance + Incomes) - Expenses

So, your balance will be reflected in real time. If you see your Actual bank balance does not match with the balance here, check your have missed any transactions to record or a transaction has wrong amount. By editing your transaction or adding new transaction, it will reflect in your Networth / Bank balances in real time.