Managing Accounts in Cashvelope

Accounts are the foundation of your financial management in Cashvelope. They represent your real-world financial accounts like checking, savings, credit cards, and investments.

Account Types

Cashvelope supports various account types to represent your complete financial picture:

Asset Accounts

Asset accounts represent money you own:

Liability Accounts

Liability accounts represent money you owe:

Tracking Accounts

Tracking accounts monitor financial information without affecting your budget:

• Closed Accounts: Maintain history for accounts no longer in use
• Third-Party Accounts: Track accounts owned by family members
• Reimbursement Accounts: Monitor expenses that will be reimbursed

Setting Up Accounts

Adding a New Account

To add a new account in Cashvelope:

1. Navigate to the "Accounts" section in the sidebar
2. Click the "+" button or "Add Account"
3. Select the account type
4. Enter the account details:
   • Account name
   • Financial institution
   • Current balance
   • Account number (optional)
   • Interest rate (optional)
   • Notes (optional)
5. Choose connection method:
   • Link automatically (recommended)
   • Manual tracking
6. Click "Save"

Linking Accounts

Cashvelope can connect securely to thousands of financial institutions for automatic transaction import:

1. During account setup, select "Link automatically"
2. Search for your financial institution
3. Enter your credentials on the secure connection page
4. Select the specific accounts to link
5. Authorize the connection

// Secure account connection using bank-level encryption
const connectionSecurity = {
  encryption: '256-bit encryption',
  dataAccess: 'read-only',
  credentialStorage: 'not stored on Cashvelope servers',
  connectionType: 'API token-based'
};

Manual Accounts

If you prefer not to link accounts or if your institution isn't supported:

1. Select "Manual tracking" during account setup
2. Enter the current balance
3. Update transactions and balances manually
4. Optionally set up CSV import for transaction history

Account Management

Account Dashboard

The Accounts Dashboard provides a comprehensive view of your financial situation:

• Net Worth: Total assets minus total liabilities
• Account List: All accounts with current balances
• Account Groups: Organized by type (assets vs. liabilities)
• Balance Trend: Chart showing balance changes over time
• Recent Transactions: Latest activity across all accounts

Account Details

Click on any account to view its details:

• Balance History: Chart showing balance changes over time
• Transaction Register: Complete list of transactions
• Reconciliation Status: Current reconciliation state
• Account Settings: Options for managing the account

Organizing Accounts

Keep your accounts organized for better financial clarity:

1. Group by Institution: Create groups for each bank or financial provider
2. Order by Priority: Arrange accounts in order of importance or use frequency
3. Hide Inactive: Hide accounts that are no longer active but you want to keep for records
4. Color Coding: Assign colors to different account types for visual organization

To organize accounts:

1. Go to "Account Settings"
2. Select "Organize Accounts"
3. Drag and drop to reorder or group accounts
4. Set display preferences for each account

Working with Transactions

Transaction Import

For linked accounts, transactions import automatically:

1. New transactions appear in your account register with a "New" tag
2. Review each transaction for accuracy
3. Assign the appropriate category
4. Mark as reviewed

Manual Transaction Entry

To add transactions manually:

1. Navigate to the account register
2. Click "Add Transaction"
3. Enter transaction details:
   • Date
   • Payee
   • Category
   • Amount
   • Notes (optional)
   • Attachment (optional)
4. Click "Save"

Transaction Management

Effectively managing transactions ensures accurate financial records:

• Split Transactions: Divide a single purchase into multiple categories
• Recurring Transactions: Set up templates for regular bills and income
• Bulk Edit: Select multiple transactions to categorize or tag them together
• Search and Filter: Find specific transactions by date, amount, or payee
• Attachments: Add receipts or documentation to transactions

Account Reconciliation

Reconciliation is the process of verifying that your Cashvelope records match your actual financial statements.

Why Reconcile?

Regular reconciliation helps:

• Catch errors or fraudulent charges
• Ensure all transactions are recorded
• Verify beginning and ending balances
• Maintain accurate financial records

Reconciliation Process

To reconcile an account in Cashvelope:

1. Obtain your official account statement
2. Navigate to the account in Cashvelope
3. Click "Reconcile"
4. Enter the statement date and ending balance
5. Review each transaction on your statement
6. Mark transactions as "cleared" when they appear on both
7. Resolve any discrepancies
8. Complete reconciliation when the difference is zero

Statement Balance - Cashvelope Cleared Balance = Difference (should be $0)

Handling Discrepancies

If your reconciliation doesn't balance:

1. Check for missing transactions: Look for transactions on your statement that aren't in Cashvelope
2. Verify amounts: Ensure all transaction amounts are entered correctly
3. Review cleared status: Make sure only transactions on the statement are marked as cleared
4. Look for duplicates: Check for duplicate entries of the same transaction
5. Adjustment transaction: As a last resort, create an adjustment transaction to balance the account

Advanced Account Features

Account Rules

Create rules to automate transaction management:

1. Go to "Account Settings" > "Rules"
2. Click "Add Rule"
3. Set conditions (e.g., payee contains "STARBUCKS")
4. Set actions (e.g., categorize as "Dining:Coffee Shops")
5. Save and apply to existing transactions if desired

Scheduled Transactions

Set up future transactions for bills and recurring expenses:

1. Go to "Scheduled Transactions"
2. Click "Add Scheduled Transaction"
3. Enter transaction details
4. Set frequency (weekly, monthly, etc.)
5. Choose whether to auto-enter transactions

Account Transfers

Track money moving between your accounts:

1. Click "Transfer" from the Accounts dashboard
2. Select source and destination accounts
3. Enter amount and date
4. Add notes if needed
5. Click "Save Transfer"

Troubleshooting Account Issues

Connection Problems

If your linked account stops updating:

1. Go to the account settings
2. Click "Update Connection"
3. Re-enter credentials if prompted
4. Check for any error messages
5. Contact your financial institution if problems persist

Duplicate Transactions

To resolve duplicate transactions:

1. Select the duplicate transactions
2. Click "Mark as Duplicate"
3. Choose which transaction to keep
4. Cashvelope will merge or remove duplicates

Missing Transactions

If transactions are missing:

1. Check the date range of your last import
2. Try manually refreshing the connection
3. Verify the transaction has cleared at your financial institution
4. Add the transaction manually if necessary

Best Practices for Account Management

Regular Maintenance

Keep your accounts accurate with these habits:

• Daily: Review new transactions
• Weekly: Categorize all transactions and check balances
• Monthly: Reconcile accounts with statements
• Quarterly: Review account structure and close unused accounts
• Annually: Audit all accounts and update interest rates

Security Considerations

Protect your financial information:

• Enable two-factor authentication for Cashvelope
• Use strong, unique passwords for financial accounts
• Regularly review transactions for unauthorized activity
• Update linked account credentials after changing bank passwords
• Use secure networks when accessing financial information

Account Organization Strategy

For optimal financial clarity:

1. Include all accounts for a complete financial picture
2. Group similar accounts (e.g., all retirement accounts together)
3. Consider separate tracking for joint vs. individual accounts
4. Archive closed accounts rather than deleting them
5. Use consistent naming conventions across all accounts

Next Steps

Now that you understand account management in Cashvelope:

1. Set up your accounts
2. Learn about Budgeting to make the most of your accounts
3. Explore Reports to gain insights from your account data
4. Set up Alerts to monitor account activity