Anza Money: Accounts, Categories, Charts of Accounts

Accounts

The exact definition of what a financial account is depends on economic and financial context. However, Anza Money operates with a simplified notion: the accounts are associated with a logical location (or designation) of the money. In layman’s terms, the accounts are what our banks give us when we establish relationships with them. Banks associate accounts with different types of services. For example, checking accounts are designed to handle daily (regular) transactions. Checking accounts got their historic “checking” reference name from the times when most of the transactions were done through writing and depositing paper checks. Nowadays, most of the transactions take place electronically. A savings account is a type of account that is preserved for accumulating money with a low frequency of transactions, especially outbound ones. Credit accounts are designed to provide customers with a money supply that covers immediate spending needs in exchange for interest paid later.  

Account Types

Everything in Anza Money is a digital record including transactions and accounts. In fact, it should not matter how external institutions want to organize and store your transactions - there are many ways suited to their convenience, not yours. Anza Money provides two major types: Accounts and Account Categories - a powerful classification system for the financial transactions that allows you to create and tune your own financial landscape of accounts and transactions. In the language of professional bookkeeping Accounts type maps into Balance Sheet Accounts while Account Categories type map into Income Statement Accounts. Balance Sheet Accounts (e.g. assets, liabilities, capital) are the places where the money is stored in one form or another. Income Statement Accounts (e.g. revenues/income, expenses, cost of goods sold) are the categories which the money (incoming or outgoing) are directed to.

Hierarchy of Accounts

Account Categories is a hierarchical structure, not unlike desktop folders which help to keep computer files in a good order and in intuitive places.

 

Accounts organized in a tree-like structure where every branch (a category) may have one parent and several children (subcategories). The grandest parent in the hierarchy of categories is the Charts of Accounts. It is the main root of the tree. Depending on the particular bookkeeping setup the number of categories can be significant. At the same time, not every category is used as often, and not every branch in the hierarchy has the same depth. Anza Money provides a convenient way of browsing through the hierarchy of account categories:

  • Favorites. When a category is being created a favorite star  can be assigned. The star can be removed or assigned again when the category is being edited. Favorite accounts (and categories) can be viewed in one list by clicking on the star icon at the icon row. Return to tree view by clicking on the tree icon .

The financial landscape of your transactions may change in time. Therefore, Anza Money provides the mechanism of rearranging Account Categories.

Adding a New  Account

It is important to remember that Anza Money uses account categories to organize accounts in hierarchies for convenient bookkeeping. Therefore, all accounts are categories, but not all account categories are used to represent actual financial accounts where transactions are being attributed to. In the following, we will say simply “Account” except in the cases  where we specifically mean “Account Category”. To add a new Account, click on the symbol  in the lower left corner of the “Charts of Accounts” screen. The following Account definition screen will show up:

The parent account of the top level category is the “Root” and it is implicit (not visible). You can use any existing account as a parent and then the new account will be added underneath that branch. You can always see how many subcategories any given category has underneath, because this number is displayed in parentheses to the right from the account category name on the Charts of Accounts screen or in other lists where accounts are displayed for selection. To unfold the hierarchy hiding within a certain account category, click on it. The next (child) level of the account categories will be displayed right below. Clicking again on the account category will hide the child level again. In addition, note that the account categories that serve as parents to other categories are marked by folder icons preceding their names. As we mentioned, this is very similar to the folder structures on your personal computer.    

Assign a name to the account. A good practice is using self-explanatory unique account / categories names to avoid name collisions in your financial books. Account “Type” is a selection of whether the record is a financial Account (as it is by default) or an AccountCategory. Account type has “Available Credit” field set to 0.0 (“no limit”) by default.

 

Select a currency from the drop-down menu of options.

Additional (optional) check boxes are:

  • Favorite: account will be added to Favorite Accounts
  • Always Expanded: this option exists for convenience. If checked, the user will always see the category with expanded sub-categories.

Optional Note field gives additional space for making specific comments about the account.

Click “OK” to finish creating a new account/category. Good Job!

Editing Account/Category

There is no need to capture all the information about an Account at the time of its creation. You can always return to the editing screen and update (or even drastically change) the parameters of the category. For example, if you want to change a parent account/category, find the desired category that you want to change and do a long click (press and hold). The following menu of actions will appear:

Make a note that the options in the menu that cannot be applied to the current category are greyed out. Clicking on the greyed out options will not have an effect. Then select “Edit record” from the menu of options. This will bring up the account/category setup screen where you can change desired parameters. 

There are a number of other useful options that the user can choose from the account/category contextual menu:

  • Add New Inside: will lead to a new Account/Category setup screen inside the current Category (or Account).
  • Edit Record: brings up the account/category setup screen where parameters can be modified.
  • Delete Record: will delete account/category if there are no transactions inside.
  • View Entries: will list all transactions including splits, but without detailed routing information.
  • View Transactions: will list transactions with detailed information about the transaction’s structure.
  • Action: brings up a popup window with two choices:
    • Account Structure: will give an account (category) report using a currently selected budget for defining the time frame of the report.
    • Account Structure with sub-accounts: similar to the first option, but it also shows the distribution in the children accounts/categories.

If budget is not selected, Active Report will not be generated. 

  • Set/Clear Favorite - will toggle the favorite mark for the account. Favorite accounts can be accessed directly from the Main Screen.

Deleting Account/Category

Use a long click on the account category to bring up menu of options. Select “Delete...” Account/Category cannot be deleted if it contains transactions. However, it can be deleted if there are inside subcategories without transactions. Please, exercise caution. It is good practice to create a backup of your data before you do rearrangements (see Backup).

Additional Actions in Charts of Accounts

The Charts of Accounts screen shows the Action Button  in the lower right corner. The Action Button is contextual. If used from a category level, there is only one option: Charts of Accounts Report. The report outputs Charts of Accounts hierarchy below the level at which you clicked on the icon. The report outputs the hierarchy in a simple self-explanatory table format.

If a Budget is set for the Chart of Accounts (see Budget), then the report outputs the accounts/categories names, balance, and balance changes. The accounts with no transactions for the budget period will not be displayed in the report. If Budget is not defined the report will list all the accounts and categories without balance information.

You can save  the report in HTML (formatting preserved) or CSV (comma-separated values - raw data) formats. The report can also be e-mailed   using the same format options.

Note that the contextual report feature described in the previous section is another way of looking into the structure of a particular account or category.

Advanced Import and Export Options

There are additional import options available if the Action Button is clicked from the account level in Favorite Accounts where transactions are present. (ie: Credit Card 1 in the Demo Book)  Data import options are not available for categories, but become visible at the account level. In addition, a summary of totals, completed, pending, recurring and scheduled transactions appears when the action button is pressed.



  • Export Entries: outputs the transactions of the current account in a simple table format with Date, Corresponding Account, Amount, Balance, and Status.

  • You can import transaction data in various formats:
  • Import QIF Statement: imports transaction data  from a QIF (Quicken™ Interchange Format) file. mports transaction data from a QFX (Quicken™ Financial Exchange) file, imports transaction data from an OFX (Open Financial Exchange) file, imports transaction data from a CSV (Comma-separated values) statement. If the option is selected, Anza Money shows a file browser which allows the user to choose the file from the flash drive. Once the file is chosen, the following import setup screen will appear:

 

Default Account is used for imported entries which cannot be associated with a suitable destination account. The user can manually move those entries later to an appropriate account.

Step-by-Step Import (manually submit every transaction): do not do batch processing, but rather manually approve the import of every individual transaction. The manual import procedure is described below in detail.

Do not import duplicates: if duplicate transaction is found in the account, do not import or overwrite (this happens, for example, if you try to import more than once).

Do not import entries with same dates and amounts: note, this is a different measure of caution. There might already be manually entered transactions that you may not want to overwrite.

Date Spread (Days): the date tolerance range for which the dates are assumed to match; the difference between dates often happens due to the natural duration that it takes to conduct and record the transaction. The spread is set by the sliding bar.

Adjust Dates: for a transaction with the same date (within the spread) and the amount, here you can correct the date of the transaction.

Use Suitable Accounts: find a match between known account names and the incoming names and assign the accounts when the match is found.

Date Format: because the order of month and day in Europe is different from this order in America, Date Format allows you to differentiate.

Backup Database button is provided for convenience (and highly recommended). Click to create a copy before you venture into the import. The backup can be used to restore data just in case.

  • Import OFX(QFX) Statement: imports transaction data from an OFX (Open Financial Exchange) file. The options during the file import are the same as described above for the QIF files.
  • Import CSV Statement: imports transaction data from a simple comma-separated values file. The required field names are:
    • for the amount of the transaction - “amount”;
    • for the date of transaction registration by the bank (posting date) - either of the following: “dpos”, “posting date”, “post date”.

Other fields are optional, but they are recommended and most banks provide them with some variations:

    • the date of transaction - either of the following: “trans. date”, “trans date”, “dtran”;
    • description of the transaction - “description” or “desc”;
    • transaction number - “number”, “Reference ID”, “id”.

The names of the fields are not case sensitive as far as Anza Money is concerned. One advantage of the CSV file is its simple text format which can be edited by an ASCII/text editor such as Notepad.

Step-by-Step Import (manual option) imports transactions one by one. The user is given a choice of ADD, SKIP, or QUIT at every transaction. The SKIP option moves import function by one transaction. You can always interrupt import process by choosing to QUIT. We recommend backing up a book before you start the import process (see the Backup Database button described above). In case of unsuccessful (or unexpected) results, you can always restore the book into its original state at the backup time.