What are Custom Accounts? Custom Accounts are entries you manually create in Shayr to track financial items that cannot be linked through our secure Plaid integration. These can be assets (things you own that have value) or liabilities (debts or financial obligations you owe) that are not automatically synced.
Examples include:
Assets: Primary home, investment properties, vehicles, valuable collections (e.g., art, jewelry), physical cash, personal loans extended to others, or even a child's piggy bank savings.
Liabilities: Personal loans from friends or family, mortgages not yet linked, or other debts not held at a financial institution.
Why Use Custom Accounts?
Accurate Net Worth: Including all your assets and liabilities ensures Shayr calculates a complete and accurate view of your family's financial health.
Comprehensive Financial Planning: Custom accounts allow you to track all your financial resources and obligations when setting and tracking your financial goals.
Unified View: Keep all your financial information in one secure place and eliminate the need for external spreadsheets or notes for unlinked assets and liabilities.
How to Add a Custom Account:
Navigate to Accounts: From your home dashboard, select the "+ Add Account" button;
Or from the hamburger menu, select the Accounts page.You will be presented with options to link a bank account or add a custom account. Select the custom account option.
Enter Details:
Account Name: Give your custom account a clear name (e.g., "Family Home," "Cash Savings Jar," "Loan to John").
Current Balance/Value: Input the current value of the asset or the outstanding amount of the liability. Note: No need to enter a negative number — Shayr automatically treats loans and debts as negative values.
Define Account Type: Choose the type of account you're adding (i.e., Cash, Credit, Investment, or Loan). This helps Shayr categorize it correctly on your dashboard.
Confirm & Save: Review the details and save your new custom account.
Managing Your Custom Accounts:
Updating Balances: Since custom accounts are manually entered, you will need to update their balances periodically to keep your net worth accurate.
Go to the "Accounts" section.
Tap the three-dot menu on the account card
Select "Edit Account balance"
Select the account that you want to update and click "Edit"
Enter the new balance and save.
Viewing in Net Worth: Once added, your custom accounts will automatically be factored into your total family Net Worth, Assets, and Liabilities calculations on your Shayr dashboard. They will appear under their respective subcategories (Cash, Investment, Loans, Other).
Family Access: If you are the primary member (e.g., Peter) and have invited family members (e.g., Freya) to your Shayr family, they will have read-only access and visibility to these custom accounts, just like other linked accounts.
Important Notes:
Custom accounts do not have transaction history
All Custom Accounts are tied to the user who created them. To ensure correct ownership, each family member should add their own accounts manually.
We encourage you to use Custom Accounts to get the most accurate and complete financial picture for your family! If you have any questions, please reach out to our support team.