Account
An account is any place money or value sits, or is owed: checking, savings, credit cards, loans, investments, even cash in a drawer. Balances roll up into net worth.
Key takeaways
- Accounts hold value (or debt) and are where every transaction lives.
- Credit cards and loans are accounts too; their balances count against net worth.
- An account in Owniko mirrors a real account somewhere: a bank, a lender, a broker, or your own wallet.
In Owniko, an account represents one real place where the household holds value or owes it: a checking account at a bank, a savings account, a credit card, a mortgage, a brokerage account, or plain cash. Every transaction belongs to exactly one account, which is what makes balances reconcilable against real statements.
Accounts come in two polarities
Asset accounts, such as checking, savings, and investments, hold what you own, and their balances add to net worth. Liability accounts, such as credit cards and loans, hold what you owe, and their balances subtract. This is why paying a credit card from checking is a transfer between two of your own accounts: one balance falls and so does the other, and net worth does not move.
An example
A household might carry seven accounts: two checking, one savings, two credit cards, a car loan, and a retirement account. That set answers most day-to-day questions: what cleared, what is due, what the buffer looks like, and, added together with the right signs, what the household is worth.
Where you’ll see it
The Accounts page lists them with balances; every transaction form asks which account it belongs to; and the net worth view is, in large part, these balances added up with their signs. Bank sync, where enabled, keeps supported accounts updated automatically.