Portfolio or accounting
The first time you sign in, SimplyLedger asks How do you want to start? and offers two kinds of workspace. This choice sets the entity's mode, and it shapes which parts of the product you see.
The same two options appear later in the New workspace dialog whenever you create another entity.
Choose deliberately
Accounting includes everything portfolio does, but you cannot switch a portfolio entity to accounting yourself; you have to ask support, using the Upgrade button in entity settings. See support tickets. If you already know you need to post and reconcile, pick Accounting now.
Portfolio
Track balances and activity. A lighter workspace for wallets, balances, transactions, portfolio views, and cost basis. Ready to use immediately.
Pick this if you want to see what you hold and how it has moved, without keeping a ledger. It covers:
- Wallets, exchanges, and token cards
- Portfolio and balance charts
- Transaction history and cost basis
- No posting or reconciliation setup
There is no naming step. The entity is created the moment you choose, named after you (Ada's Portfolio), and you land straight in it.
Accounting
Full ledger workflow. The complete auditing workspace with posting, reconciliation, and QuickBooks, plus everything in portfolio mode.
Pick this if the numbers have to end up in a set of books. It adds:
- Posting, categories, and rules
- Reconciliation and adjustments
- QuickBooks integration
- Full ledger tools
Choosing Accounting adds a second step, Name your entity. Use the name the books are kept under, such as Acme Holdings. Select Create entity to finish.
An accounting entity may need to be approved before you can open it. Until then it shows on your entity list as pending, and while one accounting entity is awaiting approval the Accounting option is unavailable for creating another.
What each mode gives you
Both modes share the whole tracking side of the product:
| Section | Portfolio | Accounting |
|---|---|---|
| Portfolio and balances | Yes | Yes |
| Wallets and exchanges | Yes | Yes |
| Token cards | Yes | Yes |
| Wallet and exchange transactions | Yes | Yes |
These are the accounting-only sections. In a portfolio entity they are not in the sidebar, and opening one directly returns you to the entity home page:
| Section | Portfolio | Accounting |
|---|---|---|
| Posting: overview, pending, discarded, categories, rules | No | Yes |
| All postings | No | Yes |
| Reconciliation and reconciliations | No | Yes |
| Adjustments | No | Yes |
| QuickBooks accounts, journal entries, bills and invoices | No | Yes |
| Customers and suppliers | No | Yes |
Which should you pick?
Choose Portfolio if you are tracking treasury holdings, want balance and cost-basis visibility, and your accounting happens elsewhere. It is available the instant you choose it.
Choose Accounting if you need journal entries, period-end reconciliation, or a QuickBooks sync. It is the full product, and portfolio's features come with it.
Next
Once your entity exists, choose an entity covers the selection screen, invitations, and switching between entities, and roles and permissions explains what each member can do.