Definition
Your account balance is how much money is currently in an account — or, for a credit card or loan, how much you currently owe.
Why It Matters
The balance you see is only accurate if the account is connected and every transaction has been recorded. A missed or duplicate transaction throws the balance off, which can lead to overspending, a missed payment, or an inaccurate net worth figure.
How This Works
In Simplifi and Quicken Business & Personal, each connected account displays its current balance, which updates automatically as transactions download and post. All your connected accounts and account balances are shown on your dashboard.