Types of Accounts

Moneydance supports a variety of account types.

You can find the steps for creating an account in this article.
 

All accounts (aside from Investment Accounts) can be specified as a “Child of” (sub-account of) another account of the same type. This is detailed further in this article.

Types of Accounts -

Bank Accounts
These accounts represent accounts like checking and savings.

Credit Card Accounts
Used to keep track of your current balance on a single credit card.
The balance of your credit card account represents your current debt on that card.
You can find more information about credit card accounts in this article.

Investment Accounts
These accounts hold securities (stocks, bonds, mutual funds, etc.) as well as cash.
Investment accounts support the entry of standard bank transactions.
You can find more information about investment accounts in this section of the knowledge base.

Asset Accounts
Used as a “catchall” account. They can be used to track the value of a home, to keep a household inventory for insurance purposes, or to track any other items you would like included in your net worth.

Liability Accounts
Used as another “catchall”, to track other liabilities you would like included in your net worth.

Loan Accounts
Used to track a loan with a known interest rate and a fixed starting debt.
You can use loan payment reminders for your regularly scheduled payments.
When you open a loan account in Moneydance you can choose to add the principal of your new loan to the balance of another account.
You can find more information about loan accounts in this section of the knowledge base.

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