Create your accounts in FiQu

fiqu personal budget app logo boost your financial iiq

In the FiQu budgeting app, expense and income transactions must be linked to an account. You can create accounts to reflect your bank accounts or your wallet with cash.

It is also possible to create an account for which you will not add transactions, like a savings account or your mortgage. For these accounts you just update the account balance every month or every year.

fiqu budgeting app add new account screen

1. Name your account

Any name or abbreviation you like. Make it unique: two accounts can’t have the same name in FiQu. You can always change an account name later.

2. Select account type

fiqu budget app account types

This type is used for grouping accounts together in the Accounts screen and probably for future reports. You can always change account type later.

In FiQu you create account not only for bank accounts but also for your wallet with cash money. Or for money you owe someone.

3. Optional – account description, for your reference

Enter some text to describe this account in FiQu. With a maximum of 100 characters. For your own reference to your administration. You can leave this field empty.

4. Include in total balance

This checkbox is checked by default: the current account balance (the amount you owe or are due) is included in the “Total balance” on the top right op the Accounts screen. Will all your accounts included, this total reflects your current so-called net worth.
You might want to uncheck this option for your mortgage or other debts. Or maybe also your savings account. As a result, the “Total balance” will show the amount you actually can spend today.

5. Select a currency for the account

Every account you create has your standard currency by default. You confirmed this standard currency when you first started the app or changed it on the Settings screen.

An account can have any of the 33 world currencies supported by Fiqu. This field determines the currency of the balance and transaction amounts linked to this account.

You can change the currency of an account later, but the above entered amounts will not be recalculated. An expense transaction of -100 euro will show as -100 US dollars after you have changed the account currency. You then have to change the amount yourself to e.g. -115 US dollars. So make sure the account currency is correct before you enter or upload your expenses or incomes in the FiQu app.

In the Overview, Accounts and Graphs screens, all totals will be automatically recalculated to the correct value in your selected standard currency.

6. Current balance of the new account

This amount is used for the Accounts screen and the Net worth graph. Please enter the value that you know or estimate to be the balance end of today. You can always update it later. For money you owe e.g. a mortgage or debt, enter a negative amount.

If you don’t know the balance or are only interested in budgets, then leave it zero. The app will work just fine.

7. Create the new account

The minimum you must enter to create an account in FiQu is a unique name. Then you will notice that the CREATE button will become active, indicated by the blue background. You must tap this button to make the new account in FiQu.

Congratulations, you have created your first account in FiQu. Now it is time to enter some transactions, either expenses or income.