Bank Accounts represent accounts like checking and savings.
Credit Card Accounts keep track of your current balance on a single credit card. The balance of your credit card account represents your current debt on the card. Moneydance will not calculate interest due on credit cards, but if you download your card's transaction data from your bank, interest adjustments will be taken care of automatically.
Investment Accounts hold securities ‒– stocks, bonds, mutual funds, etc. ‒– as well as cash. The account's cash balance can be used to purchase shares, and receives the proceeds from the sale of securities.
Loan Accounts track a loan with regularly scheduled payments, a known interest rate, and a fixed starting debt. When you open a loan account in Moneydance you can choose to add the principal of your new loan to the balance of another account.
Asset Accounts are a “catchall”
account. They can be used to track the value of a home, to keep a
household inventory for insurance purposes, or track any other
items you would like included in your net worth.
Liability Accounts are another “catchall”. This could be used to track other liabilities you would like included in your net worth.