Categories and accounts
WealthMgr gives every bucket of money a type. The Terminology setting on the Configuration page lets you pick which vocabulary the app uses for two of those types: spending and income. Everything else — assets, liabilities, budgets, pockets, transactions, reports — is named the same either way.
Two words for the same things
- In Accounts wording, a bucket that groups your spending is an expense account, and a bucket that tracks money coming in is an income account.
- In Categories wording, the spending bucket is a category and the money-coming-in bucket is a source.
These are not different features and not different data. A category is an expense account. A source is an income account. The app just shows the word your setting chooses.
Glossary
| Concept | Accounts | Categories |
|---|---|---|
| Something you own — cash, bank accounts, investments. | Asset | Asset |
| Something you owe — loans, credit card balances. | Liability | Loan or debt |
| Where your spending goes — groceries, rent, restaurants. | Expense | Category |
| Where your money comes from — salary, freelance, interest. | Income | Source |
| The section listing your spending buckets. | Expenses | Categories |
| The section listing your money coming in. | Income | Income |
Info
Where the wording shows up
The dial reaches every surface that names these types: the sidebar, account lists and their type filters, the create-account form and its Account type picker, the onboarding tutorials and their step-by-step tooltips, bills and automation rules, and reports. If a screen tells you to set a type, it uses the word your setting picked — so the instructions always match the button in front of you.
Why two vocabularies
Some people think of their money as a list of accounts; others think in categories — groceries, rent, salary. Neither is more correct. WealthMgr started with accounting words because they stay precise as your finances get complex, and added Categories wording so everyday tracking never feels like bookkeeping. Start wherever the words feel natural; switch whenever you like.