Accounts & Currencies
Assets Module overview
Understand how the Wageso Assets Module uses accounts, wallets, balances, instruments, and positions to track financial assets.
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What the Assets Module is for
The Assets Module helps you track balances and asset-related activity without connecting a bank account. It is for organizing what you own, where balances are held, and how positions change over time.
The main concepts are:
- Wallets: Groups of related accounts.
- Accounts: Balances such as cash, bank accounts, or other money accounts.
- Instruments: Assets you can buy or sell.
- Positions: Holdings created from buy and sell activity.
- Account movements: Transfers, deposits, and withdrawals.
Assets and Positions
The Assets area includes an Assets view and a Positions view.
Use Assets when you want to review accounts and balances. Use Positions when you want to review holdings created by buying or selling instruments.
If there are no positions yet, Wageso prompts you to buy or sell instruments to start tracking portfolio performance.
How data flows through Assets
Start with accounts and wallets. Then record movements as they happen.
- Add an account to track a balance.
- Deposit money when money enters an account.
- Withdraw money when money leaves an account.
- Transfer money between accounts when funds move internally.
- Buy or sell instruments when you want to track positions.
These actions keep account balances and position tracking easier to understand later.
How currencies fit in
Accounts and movements can involve different currencies. Use the real currency for each account or transaction. When transferring between accounts with different currencies, record the conversion deliberately so the movement reflects what happened.
For general currency settings, use Settings, then Currency.
Good first setup
Begin with a small model of your real finances:
- One wallet for cash or everyday accounts.
- One account for each balance you actually want to track.
- Only the instruments you actively want to follow.
- Clear movement records for deposits, withdrawals, transfers, buys, and sells.
Avoid creating every possible account or instrument on day one. Add more only when the extra detail helps you review your money.