There are lots of options for configuring how an account in Monarch works. All these options are found in the "edit account" menu:
- Name - many people will rename their bank accounts with a purpose or person in them ("Jon's Vacation Savings")
- Type - this is important since the sum of each account type is used in the colors of the net worth graph. Also certain types are negative (credit cards, loans etc) and some are positive (bank accounts, investments etc)
- Visibility - options here allow you to hide accounts visually, or just from your net worth, or just from cash flow
- Actions - if you wish to close an account but keep its history or entirely remove the whole account you can do so here. Read more about how to remove or delete an account
See this video for more: