The Problem
You cannot safely learn a new system on your real money. One wrong click on a real account is stressful, and that fear slows you down. You need a practice space that behaves exactly like the real app, with nothing at risk. You also need to understand the one number every balance in this app grows from: the statement closing balance.
What You'll Do
First, generate a full set of sample accounts, transactions, and budgets. Then look at how the app anchors an account's balance to a statement, so that when you add your own accounts you get it right the first time.
Try It: Generate Your Demo Data
You need an account for this. Don't have one? Sign up for free, confirm your email, and come back.
- Navigate: user menu → Onboarding Steps
- Click: "Generate Demo Data"
- Click: "OK" in the confirmation dialog
- Wait: for the message beginning "Demo data created" to appear
- Navigate: Accounts
- Verify: 4 accounts are listed: Primary Checking, Cash, Credit Card, Auto Loan
- Navigate: Transactions → List
- Verify: transactions from the last 3 months are listed
- Navigate: Budgets → List
- Verify: one budget per month of demo data is listed
Demo data also includes 60+ spending categories (tags) and a starter set of TagMatcher rules. You will use both in Module 4.
How Balances Work Here
The app never guesses a balance. Every account balance is built the same way:
Statement closing balance
+ every transaction dated after that statement
= current balance
The statement is the anchor. You enter the closing balance and the closing date from a real bank statement. The app runs every later transaction forward from there. When your bank and the app agree, you know the whole chain is right. When they disagree, the difference points you straight at the missing or doubled transaction.
That is why the first thing you do with a real account is add a statement. Not a guess at today's balance. A closing balance, on a closing date, from a document.
Try It: Anchor an Account to a Statement
Practice on a demo account so you know the flow before you do it for real.
- Navigate: Accounts
- Click: "Primary Checking"
- Click: "Statements"
- Click: "New Statement"
- Type: Statement Date — the closing date on the statement (demo accounts already have one for each month end, so pick a date that does not)
- Type: Closing Balance — 2500.00
- Click: "Create"
- Verify: the statement appears in the account's statement list with the date and balance you entered
Entering the date fills the Reconciliation panel: prior closing balance, the deposits and spending in the period, the expected closing, and the delta against what you typed. Module 9 uses that panel every month.
When you add your own accounts later, use the same two steps. Create the account ("New Account" on the Accounts page: Name, Balance, Opened On, and the Debt checkbox for credit cards and loans). Then add a statement with the closing balance and date from your most recent bank statement. The free tier covers two active accounts; past that, adding one asks you to subscribe. Demo data already creates four, so clear it when you are ready for your real finances.
What Happens to Demo Data Later
When you are ready for your real finances, the app prompts you to clear the demo data. You can also keep it around as a reference while you set up. Your call.
Key Takeaway: Demo data gives you a full, realistic sandbox in under a minute. Practice the rest of this course on it. And remember the anchor: every balance in this app starts from a statement closing balance you entered, never from a guess.
Check Your Understanding
Why use demo data instead of your real accounts for this course?
Answer: Practicing on real accounts risks real mistakes with real money. Demo data behaves the same way with no risk.
How many sample accounts does demo data create, and what are they?
Answer: Four: Primary Checking, Cash, Credit Card, and Auto Loan.
Where does an account's balance come from in this app?
Answer: A statement closing balance you entered, plus every transaction dated after that statement. The app never estimates it.
What is the first thing to do after creating a real account?
Answer: Add a statement with the closing balance and closing date from your most recent bank statement, so the account has an anchor.