What this guide will cover
Accounts are containers for your transactions. MoneyWiz offers a wide variety of account types, each tailored specifically for its purpose, for example:
- checking accounts,
- forex/crypto accounts,
- investment accounts,
- loan/mortgage accounts,
- and more!
This guide show you how to create, edit and delete accounts in MoneyWiz.
Table of contents
When you first start MoneyWiz, you'll be greeted with a button offering you to add "New Account". You should use this to begin creating an account.
If you already have at least one account in your database, you will not see this button. But you can access the same section in the following ways:
- on MoneyWiz for Desktop:
- click on the + button in the bottom-left, just above the Settings cog,
- (Mac only) click on the File menu bar item at the top of the screen -> New Account,
- on MoneyWiz for Mobile:
- tap on the + button in the top of the screen.
You'll now be asked to make a choice of the account type:
Automatic accounts, also called Online Banking accounts, are covered in the Online Banking accounts guide. In this guide we focus on basic account management, which will also apply to automatic accounts. For simplicity, we'll choose manual type.
On the next step, you are asked to once again choose an account type. Please check the descriptions below each account to determine which is best suited for your purpose. For this guide, we'll create a Checking account.
On the next page, you'll be asked to enter some information about your account. This basic information can be entered for all account types but some accounts have additional fields (such as credit limit for credit card accounts) - please check other guides in the Accounts section for more information.
All of the information below can be changed at any time, unless stated otherwise.
- Account name: your name for this account. Make it something descriptive, for example "Paul's Checking".
- Opening Balance: this is the amount of money you currently have in this account. Please keep in mind that if you intend to enter past transactions after you create the account, you need to enter the Account Balance as it was on the date of the first transaction you’ll be creating. For example, if today is 1st of May, but you intend to enter the transactions starting from 1st of April, then you need to find out the balance as it was on the end of the day on 31 March.
- Currency: by default, it'll use your local currency but you can change it by clicking on the currency code. Please note that this cannot be changed once you've started to enter transactions into the account.
- Auto-clear transactions: is checked by default. If you leave it like this, all transactions that you manually enter into the account with today's date or one in the past, will be entered as cleared. If you uncheck this, they'll be entered as pending. Please note that this does not affect transactions entered with a future date (they are always pending by default) or coming from Online Banking accounts (they always reflect what bank shows).
At this time you can switch to Extended information pane using the tabs on top. This allows you to access other account information (entering any of this is optional and can be changed at any time):
- Additional information: any information you'd like to keep stored about this account. It might be your overdraft limit, account number card expiry date, etc. Please note that we do not recommend storing any sensitive information here (PIN codes, banking credentials)!
- Checkbook Register: is checked by default for USD accounts. You should enable this only if you are issuing checks. If enabled, it allows you to access additional field during transaction entry: "Check number".
- Include in Net Worth: Net Worth is the sum of balances for all accounts. You can decide to exclude individual accounts from that calculation by unchecking this option.
- Put in Group: if you have any account groups created, you can put your account in a group using this menu. Account groups are described in more detail in a separate guide.
- Icon: we offer dozens of unique icons to choose from to visually describe your accounts. If you don't pick any, we'll use the standard icon for the account type you've chosen.
When you're ready to save your changes just use the Create button in the bottom-right (Desktop) or ✓ in the top-right (Mobile). You'll be presented with an empty Account register (a place for your transactions):
You can start entering transactions using the + button in the bottom-right.
Most of the information you've entered during account creation can be modified later. To start modifying the account, you should:
- (Desktop): double-click on the account name in the sidebar or right-click on the account name in the sidebar and choose Edit,
- (Mobile): tap on the pencil icon at the top of the screen and tap on the account you wish to edit.
You'll be presented with a dialog very similar to the one you've seen during account creation, allowing you to modify the account details.
This is also the place to connect an account you've been managing manually to the Online Banking feature using "Connect to Online Banking" button. If the account is already connected to Online Banking and you wish to disconnect it, just use "Disconnect from Online Banking" button. This is covered in more detail in the Online Banking accounts guide.
Don't like the order of your accounts? No problem! You can easily re-arrange them:
- Desktop: click and hold on the account name in the sidebar then drag it to desired position on the list,
- Mobile: tap on the pencil icon at the top of the screen then tap and hold on the little handle that appears next to each account box and drag it to desired position on the list. To finish making changes, tap on the pencil button again.
If you have any account groups, you can drag your accounts into the account groups now. Remember that ungrouped accounts will always be on top, above account groups. Account groups are covered in more detail in a separate guide.
Before you delete an account, you should think very carefully why are you doing this. Is it because you've closed your account with the bank and will no longer be using it? Or is it because you've made a mistake in account setup and wish to start over?
If you've simply stopped using an account but it still contains transaction history, you should not delete it. It contains a lot of valuable information that will be irreversibly lost if you delete the account. Furthermore, deleting an account that contains transfers to/from other accounts causes those transfers to be deleted as well, introducing changes to other account balances! Instead of deleting such accounts, you should archive them.
If you are sure you wish to delete an account:
- (Desktop): right-click on the account name in the sidebar and choose Delete,
- (Mobile): tap on the pencil icon at the top of the screen and tap on the red delete button next to the account you wish to delete.
Carefully read the warning that appears and decide what to do.