Why doesn't GnuCash auto-reconcile non-bank accounts?
"The answer is just close your eyes and ignore it (in your words). I'm right there with you, the amount of detail that I track in my personal finances would be called obscene by some people.  But as you look at these features in any accounting application, you need to ask the question ""What does this information represent?"" In the case of your bank and credit card accounts, the reconciliation marker represents that you have received documentation from the issuing institution which you have verified against your accounts.  Marking them off confirms that you have reviewed the information, and that you checked for errors.   These markers exist on all transactions, whichever end of the splits you are looking at.  When reviewing the Expense side of the transaction, it might make less sense to see these reconciliation markers, because as you stated, nobody receives documentation related to their expenses.  However, if you itemized your expenses and kept a separate log of certain transactions (like a notebook where you track gasoline and/or mileage on your car), it might be useful to 'reconcile' your records once a month.  Checking off individual transactions, and verifying a new 'balance' in terms of gas consumed or miles driven, would allow you to identify any inconsistencies in your records. Not everyone would find such an activity useful, thus the reconciliation markers are present everywhere but required nowhere."
Almost any financial institution has the technical ability to do this (simply called sweeps, auto sweeps, or deposit sweeps); the issue you face is finding an institution that is willing to do it for you.  I think you will have the most luck at your primary financial institution where you currently keep the majority of your banking relationship.  You will have better luck at small-town banks and credit unions.  The mega banks will likely not waver from their established policies. Deposit sweeps are common for business accounts.  They are usually tied to a savings account, which is usually held within the same institution, however this is not a requirement.  The sweep can send money to any US bank if you can provide the routing number and account number.  The sweep will establish a peg balance, or floor balance, on the checking account.  At the end of the day, any amount above the peg is swept into the savings account automatically. I doubt you will find what you’re asking for within an online banking system.  You will likely have to go into a branch and speak with a personal banker.  Explain to them you want to establish a sweep on your checking account and want to send the funds to another financial institution.  You will have better luck asking for a peg of $100, or some other small amount.  They may not take your request seriously if you want to completely empty the checking account to zero. Part 1 Quite a few [or rather most] countries allow USD account. So there is no conversion.   Just to illustrare; In India its allowed to have a USD account. The funds can be transfered as USD and withdrawn as USD, the interest is in USD. There no conversion at any point in time. Typically the rates for CD on USD account was Central Bank regulated rate of 5%, recently this was deregulated, and some banks offer around 7% interest.   Why is the rate high on USD in India? - There is a trade deficit which means India gets less USD and has to pay More USD to buy stuff [Oil and other essential items]. - The balance is typically borrowed say from IMF or other countries etc. - Allowing Banks to offer high interest rate is one way to attract more USD into the country in short term. [because somepoint in time they may take back the USD out of India] So why isn't everyone jumping and making USD investiments in India? - The Non-Residents who eventually plan to come back have invested in USD in India. - There is a risk of regulation changes, ie if the Central Bank / Country comes up pressure for Forex Reserves, they may make it difficut to take back the USD. IE they may impose charges / taxes or force conversion on such accounts. - The KYC norms make it difficult for Indian Bank to attract US citizens [except Non Resident Indians] - Certain countries would have explicit regulations to prevent Other Nationals from investing in such products as they may lead to volatility [ie all of them suddenly pull out the funds] - There would be no insurance to foreign nationals.   Part 2 The FDIC insurance is not the reason for lower rates. Most countires have similar insurance for Bank deposits for account holdes.   The reason for lower interst rate is all the Goverments [China etc] park the excess funds in US Treasuries because; 1. It is safe 2. It is required for any international purchase 3. It is very liquid.   Now if the US Fed started giving higher interest rates to tresaury bonds say 5%, it essentially paying more to other countries ... so its keeping the interest rates low even at 1% there are enough people [institutions / governemnts] who would keep the money with US Treasury.   So the US Treasury has to make some revenue from the funds kept at it ... it lends at lower interest rates to Bank ... who in turn lend it to borrowers [both corporate and retail].   Now if they can borrow cheaply from Fed, why would they pay more to Individual Retail on CD?, they will pay less; because the lending rates are low as well.   Part 3 Check out the regulations The GnuCash manual has a page with examples of opening new accounts. The tl;dr is: use the Equity:Opening Balance to offset your original amounts. The further explanation from the GnuCash page is: As shown earlier with the Assets:Checking account, the starting   balances in an account are typically assigned to a special account   called Equity:Opening Balance. To start filling in this chart of   account, begin by setting the starting balances for the accounts.   Assume that there is $1000 in the savings account and $500 charged on   the credit card. Open the Assets:Savings account register. Select View from the menu and check to make sure you are in Basic Ledger style. You will   view your transactions in the other modes later, but for now let’s   enter a basic transaction using the basic default style. From the Assets:Savings account register window, enter a basic 2 account transaction to set your starting balance to $1000, transferred   from Equity:Opening Balance. Remember, basic transactions transfer   money from a source account to a destination account. Record the   transaction (press the Enter key, or click on the Enter icon). From the Assets:Checking account register window, enter a basic 2 account transaction to set your starting balance to $1000, transferred   from Equity:Opening Balance. From the Liabilities:Visa account register window, enter a basic 2 account transaction to set your starting balance to $500, transferred   from Equity:Opening Balance. This is done by entering the $500 as a   charge in the Visa account (or decrease in the Opening Balance   account), since it is money you borrowed. Record the transaction   (press the Enter key, or click on the Enter icon). You should now have 3 accounts with opening balances set. Assets:Checking, Assets:Savings, and Liabilities:Visa. Use one journal entry, and split the expenses into the appropriate accounts. This can happen even if you never mix business and personal on the same receipt: say you order office supplies (which where I live are immediately deductible as an expense) and software or hardware (which must be depreciated because they are assets) on the same order. We have an account called Proprietors Loan which represents money the company is lending to the humans who own it, or that the humans are lending to the company. Were I to pay for my personal lunch on a business credit card, it would go through that account, increasing the amount the company has lent me or decreasing the amount I have lent it. Similarly if I made a business purchase with a personal card it would go through that account in the other direction. Where I live, I can lend my company all the money I want any time, but if the company lends me money there can't be an outstanding balance over the corporate year end. If you make two credit card entries of 5 and 10 when you go to reconcile your accounts it will be harder because you'll have to realize they together match the single 15 line on your statement. Making a single entry (your A option) will make reconciling your statement much easier. And that way, you'll probably reconcile your statements, which is vital to knowing you actually recorded everything. "I added ""Shared money in account"" (SMIA) as sub-account of my bank checking (CA) account and moved current difference to that account so total of CA was not changed but now private and shared money is separated. My cases would be handled the following The only downside I see is that now my balance in CA transaction log do not match exactly with bank so reconciliation will be slightly harder." I'm not familiar with Gnucash, but I can discuss double-entry bookkeeping in general. I think the typical solution to something like this is to create an Asset account for what this other person owes you. This represents the money that he owes you. It's an Accounts Receivable. Method 1: Do you have/need separate accounts for each company that you are paying for this person? Do you need to record where the money is going? If not, then all you need is: When you pay a bill, you credit (subtract from) Checking and debit (add to) Friend Account. When he pays you, you credit (subtract from) Friend Account and debit (add to) Checking. That is, when you pay a bill for your friend you are turning one asset, cash, into a different kind of asset, receivable. When he pays you, you are doing the reverse. There's no need to create a new account each time you pay a bill. Just keep a rolling balance on this My Friend account. It's like a credit card: you don't get a new card each time you make a purchase, you just add to the balance. When you make a payment, you subtract from the balance. Method 2: If you need to record where the money is going, then you'd have to create accounts for each of the companies that you pay bills to. These would be Expense accounts.  Then you'd need to create two accounts for your friend: An Asset account for the money he owes you, and an Income account for the stream of money coming in. So when you pay a bill, you'd credit Checking, debit My Friend Owes Me, credit the company expense account, and debit the Money from My Friend income account.  When he repays you, you'd credit My Friend Owes Me and debit Checking. You don't change the income or expense accounts. Method 3: You could enter bills when they're received as a liability and then eliminate the liability when you pay them. This is probably more work than you want to go to. Perhaps you should use your own tracking software, such as GnuCash, Quicken, Mint, or even Excel.  The latter would work given you say you're manually putting in your transactions.   There's lots of pre-done spreadsheets for tracking investments if you look around.    I'm hoping that a web search gets you help on migrating transaction data, but I've yet to run into any tools to do the export and import beyond a manual effort.  Then again, I haven't checked for this lately. Not sure about your other questions, but I'd recommend you edit the question to only contain what you're asking about in the subject. You can use a service like Transferwise to send money. The trick is that they allow sending money to yourself, from a GBP account to an EUR account, effectively making it an exchange shop. Their rates are usually very good, with the transfers happening on the same day most of the time.