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Accounts

An account is an entity that represents for instance your checking account at your bank or your credit card account. Therefore an account has a balance, the current amount of money it holds and a list of transactions that are associated with the account.

There are 2 fundamentally different classes of accounts in Personal Finance Dashboard:

  • General accounts
  • Investment accounts

General accounts​

General accounts include:

  • Checking accounts
  • Credit card accounts
  • Cash accounts
  • Savings accounts
  • etc.

The commonality for this type of account is that their value only changes if transactions occur (note that the interest payed on any balance is a transaction as well).

Investment accounts​

Investment accounts are those accounts which are used to invest and trade in stocks, ETFs, and other financial products. What differentiates these accounts from general accounts is that their value changes over time (even without the occurrence of any transaction). This of course comes from the fact that the value of financial products are determined through a public market.