Key concepts

Accounts

Accounts in YAFFA: The Building Blocks of Transactions

In YAFFA, Accounts stand as the cornerstone of your financial tracking journey, offering crucial functionalities that contribute to a comprehensive and insightful personal finance experience.

Key Features and Functions

  • Currency Assignment: all associated financial transactions within an account are conducted in the assigned currency.
  • Real-Time Balance Tracking: the actual balance of each account is tracked in the selected currency, providing an up-to-date snapshot of your financial standing.
  • Transaction Involvement: Accounts play a central role in transactions, whether money is spent, received, or transferred between accounts.
  • Opening Balance: each account carries an opening balance, the initial known balance in the selected currency. This reference, along with related transactions, calculates the current balance.
  • Aliases for Enhanced Identification: beyond names, accounts support aliases for better identification, aiding automated transaction imports such as AI-driven processing of email receipts.
  • Inactive Accounts: rather than deletion, accounts can be set as inactive, preserving transaction history while streamlining focus on active assets.
  • Account groups: accounts are always assigned to account groups. You can use a default account group, or benefit from multiple groups used. Learn more about account groups.

Given the features and functions described above, you can decide between utilizing a single account for a simplified financial view, or creating an unlimited number of accounts to track intricate details.

Create and manage accounts effortlessly through the Assets / Accounts left navigation menu. Additionally, access active accounts and account history conveniently from various sections of the application, such as the top-left dropdown list.