Differences between advanced and essential accounts

Money 2005 and later introduced the concept of advanced and essential accounts, which are described below:

Essential Accounts

Essential accounts are 'online' accounts. They provide a simplified set of functions for managing your account, and are suited to those people who do not require full functionality.

Transactions are downloaded automatically for you, and you do not need to enter the data yourself. However, because of this, you can only use this mode if the bank offers 2-way banking (see Article 235).

Advanced Accounts

These type of accounts allow you to experience the full features of the program - entering data yourself, downloading and matching statements. You can work with these accounts offline.

An account with VAT enabled will need to be in advanced mode.

In general, non-US users will almost exclusively use the advanced account register, due to the lack of 2 way banking facilities.

Common Notes

To switch between these accounts, choose the 'change account settings' option in the left hand pane of the Money window. On the 'Register Detail' page, there is an option to switch from one to the other.

Category: Accounts

Keywords: account, essential, advanced