Worthic Knowledge base

Accounts are the operating layer beneath Worthic’s dashboards, transactions, documents, forecasts, and net worth reports. Each account belongs to a workspace, can be linked to one or more reporting lines, and carries its own currency, ownership allocation, balance model, and access rules. Worthic uses those settings to decide whether the account behaves like a transaction ledger, a tracked asset or investment, or a simple balance record.

Adding accounts

You can add accounts during workspace setup or later from workspace settings. Account setup captures the display name, institution or provider, optional account number or identifier, currency, ownership, account users, account type, and starting value. Accounts are optional during setup, so you can create a workspace first and add account structure later.

For investment accounts with detailed tracking, Worthic can also create dedicated cash ledger accounts for selected cash currencies. These cash ledgers are linked back to the investment account so trades, dividends, fees, and cash movement can be analysed together.

Account types and subtypes

Worthic supports three main account types:

1. Transactional accounts: bank accounts, credit accounts, and cash accounts. These always use transaction logging and running balances.

2. Liability accounts: loan and mortgage accounts. These can either track repayments through a transaction ledger or operate as balance-tracking accounts.

3. Asset / investment accounts: investments and other assets. These support three practical models:

• Ledger-backed investment tracking: detailed investment accounts with transactions, running balance, valuation tracking, holdings, and linked cash ledgers.
• Asset-tracked value tracking: detailed asset value tracking without a transaction ledger.
• Balance-tracked assets: simple current-value tracking without transactions or detailed valuation history.

Find out more about asset and investment accounts here.

Account controls

Account settings control the data Worthic uses in reports and calculations:

• Settings: account name, institution, currency, account type metadata, and investment type where relevant.
• Balance auto-adjustment: available for balance-tracking-only accounts. It can increase or decrease balances by fixed amounts, percentages, or, for liabilities, amortisation-style schedules.
• Account ownership: percentage allocations determine how much of an account contributes to each reporting line’s net worth and balance sheet.
• Account users: for ledger-capable accounts, selected reporting lines can use the account for transactions.
• Currency: accounts have a three-letter currency. Changing currency after activity exists requires confirmation because Worthic rewrites related transaction, candidate, event, and group currency values.
• Account identifier: account numbers or identifiers are stored encrypted, with hashed matching fields for lookup without exposing the raw value. Although account numbers are optional, setting an account number improves transaction allocation from account statements.
• Opening balance method: ledger accounts can use the earliest statement balance or a manual opening balance. Manual balances become a firm baseline from the selected date. With "Use earliest statement balance" set, the system will use statement opening balances rather than a user-defined opening balance. Closing/current balance is calculated from transaction amounts and reconciliation done with statement closing balances where available.
• Forecast assumptions: available for ledger-backed and value-tracked accounts, not simple balance-tracking-only accounts. Use these for expected cash returns, portfolio return assumptions, fixed forecast movements, or liability amortisation forecasts. For simple balance-tracking-only accounts, use balance auto-adjustment instead.

Closure and archiving

Accounts can be closed and archived from Workspace settings, Accounts, Manage accounts. Archiving marks an account as archived and removes it from active account views. Where allowed, owners or platform admins can also archive while deleting historical account data, including transactions, candidates, account events, investment holdings, links, and unreferenced documents. Some managed real-estate accounts are disabled through the property feature rather than treated as ordinary archive-only accounts.

Account health and reconciliation

Worthic monitors account health and indicates account health status as Clear, Processing or Attention. Attention items can be either an amber alert or red warning, depending on the severity.

Account attention issues can be reviewed, deferred, resolved, or sent through AI-assisted reconciliation review.

Account health status and severity states:

Integration requests

Worthic facilitates custom account integrations. Integration requests can be sent to [email protected].