Questions tagged [accounts]

A generic tag for questions on all manner of accounts. For specific questions use the "savings-account", "checking-account" or other specific tags. It is recommended that a specific country tag be used to indicate the geography of the question being asked

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28
votes
2answers
226k views

“Savings” account vs. “current” account - what's the difference?

When I draw money from ATMs or open a new bank account, there's the choice of either "savings" or "current" account. What's the difference between these two account types?
11
votes
7answers
639 views

How many credit cards is it reasonable to have?

Is there a right number of credit cards to hold? (Please don't say zero :) What would be the excessive number of credit cards, or how else would you judge enough is enough? If I have some cards I do ...
9
votes
4answers
611 views

Should I keep most of my banking, credit, and investment accounts at the same bank?

I have two bank accounts (checking and saving), some credit cards (3), a mortgage, an investment account, and an individual retirement account. Right now all of those accounts except two of the credit ...
9
votes
2answers
1k views

How are 401(k), 403(b), and 457(b) tax-advantaged retirement plans different? How are they alike?

How are 401(k), 403(b), and 457(b) tax-deferred retirement plans different? How are they alike?
8
votes
4answers
397 views

Other than being able to borrow to invest, how is a margin trading account different from a cash account?

Other than being able to borrow against one's portfolio value to purchase additional investments, how is a typical brokerage margin trading account different from a typical cash trading account? ...
5
votes
1answer
332 views

Gnucash brokerage account with multiple stocks

GNUCash setup is driving me nuts. Most accounting software tools allow you to create a brokerage account that holds multiple securities. The account ledger can have transactions for all the ...
4
votes
2answers
311 views

How do I use a liability account (in ledger-cli)?

I don't think this is only applicable to the software, but it's the one that I'm using. In the documentation it talks about using charitable giving (e.g. tithing) as a Liability. An example for 10% ...
3
votes
1answer
4k views

What does it mean if my bank account has a credit?

I have been using one of my bank account on very occasional basis, so I never know how much money is in. Just checked my balance on the phone and it says £130 in credit. Does it mean I still have £130 ...
3
votes
3answers
791 views

Using multiple bank accounts

One thing I've always struggled with finance-wise is how to manage higher-level budget categories across a limited number of accounts. For instance, I currently maintain the following types of ...
3
votes
3answers
1k views

Convention for adding ishares (ETFs) into personal accounts

I use GNUcash to manage my personal accounts. Please advise me on how I should enter ETFs, specifically ishares which are Blackrock's brand of ETF, into my personal accounts. The default set of ...
3
votes
1answer
5k views

Money owed to credit cards called “positive balances” or “negative balances”?

Q1) If my Visa credit card has a zero balance and then I charge something on the Visa, do I now have a "positive balance" or a "negative balance"? Q2) Same question for a utility account like a ...
3
votes
1answer
79 views

Is it possible to place money in an account where I can authorize people to view the balance?

I'm entering a software contest in which the winner will be awarded a sum of money. However, part of the qualifications for winning is that the winner can demonstrate the ability to be able to afford ...
2
votes
1answer
104 views

Investing Account Options

I am new to this SE community so please inform me if there are ways I can edit or improve this question, a more appropriate place to post it, or better tags and title. My grandmother is beginning to ...
2
votes
1answer
176 views

Credit card company doesn't have a record of my account

In 2006, I was notified by mail that a credit account I had opened three years earlier was being transitioned to a new, different account. Both accounts are currently reported as open on my credit ...
2
votes
1answer
887 views

How to enter members drawings on a balance sheet in a UK LLP

I am writing up the annual accounts for our LLP, and I am unsure where to put the Members drawings on the balance sheet. Should the amount drawn by members be written down as debtors in the Current ...
1
vote
1answer
73 views

Including benefits in kind within accounts

I'm producing accounts for a local political party using GNU Cash. There are a lot of benefits in kind that we need to account for. Previously I included these on a separate spreadsheet, but would ...
1
vote
1answer
89 views

Start Quicken from Scratch [closed]

I want to start over with all my accounts without any historical information. I have been using it for 9 years and do not want to see all the history although I'd like to have it accessible if needed. ...
1
vote
1answer
151 views

Terminology question about chart of accounts, general ledger [closed]

I'm trying to learn the correct terminology for the place where I see ALL the "accounts" AND their balances in an accounting app. I use QuickBooks and if I want to see all of this, I click "Chart of ...
1
vote
1answer
289 views

Where am I miscounting this money?

I run a sports club where I accept payments via three methods: in cash, via a PayPal card reader and online via my website. I'd been keeping track of the attendees and how much they paid in a ...
1
vote
0answers
64 views

Best software to import finances [duplicate]

Possible Duplicate: What are the best software tools for personal finance? I'm looking for a tool to manage my personal finances with. I've got various loans, credit cards, a few investments, and ...
0
votes
1answer
378 views

Free Money Payroll from Ghost Accounts [duplicate]

My friend said he knows this guy who will deposit money into my Chase bank account. The only requirements being that I have had the account for over 4 months and my balance is not negative. His name ...
0
votes
1answer
309 views

Sales taxed amount in Accounts Receivable?

When I enter a new invoice for a client, for example $1062.50 ($1000 + MA sales tax) do BOTH Accounts Receivable AND Sales Tax Payable go up by the following? Accounts Receivable +1062.50 Sales Tax ...