I would like to hear other user’s thoughts about this suggestion.
The combination of
Cash Accounts and
Bank Accounts with version 16.5.6 put different kinds of accounts under the same tab, but seemed to be a logical change. After all, these were the accounts where one could spend, receive, and transfer money. The operations available with them were similar. So it made sense to have them together.
Now, version 16.5.32 allows us to assign these accounts to control accounts of our own choosing. One welcome result is the ability to show pending credit card balances as liabilities rather than contra asset accounts. Revolving charge accounts with merchants, where a purchase invoice makes little sense, are another example. As a consequence, the Balance Sheet can more intuitively show how much cash is actually available, without the deduction of pending credit balances on which payments might be adjusted to match cash flow, etc. But after such credit accounts are moved to a newly created liability control account, they must still be accessed under the
Cash Accounts tab.
My suggestion is to rename the
Cash Accounts tab to something that better reflects its current purpose rather than its historical origin. I believe this will make the overall interface more intuitive, since you won’t be going to a misleadingly named
Cash Accounts tab to record a credit card purchase that shows up under Liabilities. The common factor among these accounts is no longer that they are cash accounts. In fact, many will now explicitly not involve cash or a cash equivalent, but rather some form of credit. I especially believe this will help new users, who will have no idea of the history behind the current configuration.
The common factors between accounts in this tab are (1) you can move or obligate money, (2) they frequently involve external institutions, and (3) many share the possibility of having uncleared payments or deposits. For those that don’t share one or more of those characteristics, the presence of such features are obviously inapplicable or can be suppressed. I have had several ideas about how to rename the tab, including:
- Cash, Bank, and Credit Accounts (this is probably too long for the space available, and may not reflect all types of accounts that might reside here)
- Institutional Accounts
- Monetary Accounts
- Transaction Accounts
My personal favorite (at least for now) is the last one,
Transaction Accounts, because it clearly indicates what you can do in the tab. Whatever name is used, including the word Accounts shows what sort of thing is accessible under that tab. Those principles seem consistent with other naming conventions in Manager.
Other thoughts, anyone?