diff --git a/test/models/balance/forward_calculator_test.rb b/test/models/balance/forward_calculator_test.rb
index 98ee9b54..ccd98c96 100644
--- a/test/models/balance/forward_calculator_test.rb
+++ b/test/models/balance/forward_calculator_test.rb
@@ -11,7 +11,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
   # When syncing forwards, we don't care about the account balance.  We generate everything based on entries, starting from 0.
   test "no entries sync" do
     account = create_account_with_ledger(
-      account: { type: Depository, balance: 20000, cash_balance: 20000, currency: "USD" },
+      account: { type: Depository, currency: "USD" },
       entries: []
     )
 
@@ -25,7 +25,9 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: Date.current,
           legacy_balances: { balance: 0, cash_balance: 0 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 0, end: 0 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 0, end: 0 },
+          flows: 0,
+          adjustments: 0
         }
       ]
     )
@@ -34,7 +36,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
   # Our system ensures all manual accounts have an opening anchor (for UX), but we should be able to handle a missing anchor by starting at 0 (i.e. "fresh account with no history")
   test "account without opening anchor starts at zero balance" do
     account = create_account_with_ledger(
-      account: { type: Depository, balance: 20000, cash_balance: 20000, currency: "USD" },
+      account: { type: Depository, currency: "USD" },
       entries: [
         { type: "transaction", date: 2.days.ago.to_date, amount: -1000 }
       ]
@@ -49,12 +51,16 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: 3.days.ago.to_date,
           legacy_balances: { balance: 0, cash_balance: 0 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 0, end: 0 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 0, end: 0 },
+          flows: 0,
+          adjustments: 0
         },
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 1000, cash_balance: 1000 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 1000, end_non_cash: 0, end: 1000 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 1000, end_non_cash: 0, end: 1000 },
+          flows: { cash_inflows: 1000, cash_outflows: 0 },
+          adjustments: 0
         }
       ]
     )
@@ -62,7 +68,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
 
   test "reconciliation valuation sets absolute balance before applying subsequent transactions" do
     account = create_account_with_ledger(
-      account: { type: Depository, balance: 20000, cash_balance: 20000, currency: "USD" },
+      account: { type: Depository, currency: "USD" },
       entries: [
         { type: "reconciliation", date: 3.days.ago.to_date, balance: 18000 },
         { type: "transaction", date: 2.days.ago.to_date, amount: -1000 }
@@ -78,12 +84,16 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: 3.days.ago.to_date,
           legacy_balances: { balance: 18000, cash_balance: 18000 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 18000, end_non_cash: 0, end: 18000 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 18000, end_non_cash: 0, end: 18000 },
+          flows: 0,
+          adjustments: { cash_adjustments: 18000, non_cash_adjustments: 0 }
         },
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 19000, cash_balance: 19000 },
-          balances: { start: 18000, start_cash: 18000, start_non_cash: 0, end_cash: 19000, end_non_cash: 0, end: 19000 }
+          balances: { start: 18000, start_cash: 18000, start_non_cash: 0, end_cash: 19000, end_non_cash: 0, end: 19000 },
+          flows: { cash_inflows: 1000, cash_outflows: 0 },
+          adjustments: 0
         }
       ]
     )
@@ -92,7 +102,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
   test "cash-only accounts (depository, credit card) use valuations where cash balance equals total balance" do
     [ Depository, CreditCard ].each do |account_type|
       account = create_account_with_ledger(
-        account: { type: account_type, balance: 10000, cash_balance: 10000, currency: "USD" },
+        account: { type: account_type, currency: "USD" },
         entries: [
           { type: "opening_anchor", date: 3.days.ago.to_date, balance: 17000 },
           { type: "reconciliation", date: 2.days.ago.to_date, balance: 18000 }
@@ -107,12 +117,16 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
           {
             date: 3.days.ago.to_date,
             legacy_balances: { balance: 17000, cash_balance: 17000 },
-            balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 }
+            balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 },
+            flows: 0,
+            adjustments: { cash_adjustments: 17000, non_cash_adjustments: 0 }
           },
           {
             date: 2.days.ago.to_date,
             legacy_balances: { balance: 18000, cash_balance: 18000 },
-            balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 18000, end_non_cash: 0, end: 18000 }
+            balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 18000, end_non_cash: 0, end: 18000 },
+            flows: 0,
+            adjustments: { cash_adjustments: 1000, non_cash_adjustments: 0 }
           }
         ]
       )
@@ -122,7 +136,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
   test "non-cash accounts (property, loan) use valuations where cash balance is always zero" do
     [ Property, Loan ].each do |account_type|
       account = create_account_with_ledger(
-        account: { type: account_type, balance: 10000, cash_balance: 10000, currency: "USD" },
+        account: { type: account_type, currency: "USD" },
         entries: [
           { type: "opening_anchor", date: 3.days.ago.to_date, balance: 17000 },
           { type: "reconciliation", date: 2.days.ago.to_date, balance: 18000 }
@@ -137,12 +151,16 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
           {
             date: 3.days.ago.to_date,
             legacy_balances: { balance: 17000, cash_balance: 0.0 },
-            balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 17000, end: 17000 }
+            balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 17000, end: 17000 },
+            flows: 0,
+            adjustments: { cash_adjustments: 0, non_cash_adjustments: 17000 }
           },
           {
             date: 2.days.ago.to_date,
             legacy_balances: { balance: 18000, cash_balance: 0.0 },
-            balances: { start: 17000, start_cash: 0, start_non_cash: 17000, end_cash: 0, end_non_cash: 18000, end: 18000 }
+            balances: { start: 17000, start_cash: 0, start_non_cash: 17000, end_cash: 0, end_non_cash: 18000, end: 18000 },
+            flows: 0,
+            adjustments: { cash_adjustments: 0, non_cash_adjustments: 1000 }
           }
         ]
       )
@@ -151,7 +169,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
 
   test "mixed accounts (investment) use valuations where cash balance is total minus holdings" do
     account = create_account_with_ledger(
-      account: { type: Investment, balance: 10000, cash_balance: 10000, currency: "USD" },
+      account: { type: Investment, currency: "USD" },
       entries: [
         { type: "opening_anchor", date: 3.days.ago.to_date, balance: 17000 },
         { type: "reconciliation", date: 2.days.ago.to_date, balance: 18000 }
@@ -167,12 +185,16 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: 3.days.ago.to_date,
           legacy_balances: { balance: 17000, cash_balance: 17000 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 },
+          flows: { market_flows: 0 },
+          adjustments: { cash_adjustments: 17000, non_cash_adjustments: 0 } # Since no holdings present, adjustment is all cash
         },
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 18000, cash_balance: 18000 },
-          balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 18000, end_non_cash: 0, end: 18000 }
+          balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 18000, end_non_cash: 0, end: 18000 },
+          flows: { market_flows: 0 },
+          adjustments: { cash_adjustments: 1000, non_cash_adjustments: 0 } # Since no holdings present, adjustment is all cash
         }
       ]
     )
@@ -184,7 +206,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
 
   test "transactions on depository accounts affect cash balance" do
     account = create_account_with_ledger(
-      account: { type: Depository, balance: 20000, cash_balance: 20000, currency: "USD" },
+      account: { type: Depository, currency: "USD" },
       entries: [
         { type: "opening_anchor", date: 5.days.ago.to_date, balance: 20000 },
         { type: "transaction", date: 4.days.ago.to_date, amount: -500 }, # income
@@ -200,22 +222,30 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: 5.days.ago.to_date,
           legacy_balances: { balance: 20000, cash_balance: 20000 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 20000, end_non_cash: 0, end: 20000 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 20000, end_non_cash: 0, end: 20000 },
+          flows: 0,
+          adjustments: { cash_adjustments: 20000, non_cash_adjustments: 0 }
         },
         {
           date: 4.days.ago.to_date,
           legacy_balances: { balance: 20500, cash_balance: 20500 },
-          balances: { start: 20000, start_cash: 20000, start_non_cash: 0, end_cash: 20500, end_non_cash: 0, end: 20500 }
+          balances: { start: 20000, start_cash: 20000, start_non_cash: 0, end_cash: 20500, end_non_cash: 0, end: 20500 },
+          flows: { cash_inflows: 500, cash_outflows: 0 },
+          adjustments: 0
         },
         {
           date: 3.days.ago.to_date,
           legacy_balances: { balance: 20500, cash_balance: 20500 },
-          balances: { start: 20500, start_cash: 20500, start_non_cash: 0, end_cash: 20500, end_non_cash: 0, end: 20500 }
+          balances: { start: 20500, start_cash: 20500, start_non_cash: 0, end_cash: 20500, end_non_cash: 0, end: 20500 },
+          flows: 0,
+          adjustments: 0
         },
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 20400, cash_balance: 20400 },
-          balances: { start: 20500, start_cash: 20500, start_non_cash: 0, end_cash: 20400, end_non_cash: 0, end: 20400 }
+          balances: { start: 20500, start_cash: 20500, start_non_cash: 0, end_cash: 20400, end_non_cash: 0, end: 20400 },
+          flows: { cash_inflows: 0, cash_outflows: 100 },
+          adjustments: 0
         }
       ]
     )
@@ -224,7 +254,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
 
   test "transactions on credit card accounts affect cash balance inversely" do
     account = create_account_with_ledger(
-      account: { type: CreditCard, balance: 10000, cash_balance: 10000, currency: "USD" },
+      account: { type: CreditCard, currency: "USD" },
       entries: [
         { type: "opening_anchor", date: 5.days.ago.to_date, balance: 1000 },
         { type: "transaction", date: 4.days.ago.to_date, amount: -500 }, # CC payment
@@ -240,22 +270,30 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: 5.days.ago.to_date,
           legacy_balances: { balance: 1000, cash_balance: 1000 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 1000, end_non_cash: 0, end: 1000 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 1000, end_non_cash: 0, end: 1000 },
+          flows: 0,
+          adjustments: { cash_adjustments: 1000, non_cash_adjustments: 0 }
         },
         {
           date: 4.days.ago.to_date,
           legacy_balances: { balance: 500, cash_balance: 500 },
-          balances: { start: 1000, start_cash: 1000, start_non_cash: 0, end_cash: 500, end_non_cash: 0, end: 500 }
+          balances: { start: 1000, start_cash: 1000, start_non_cash: 0, end_cash: 500, end_non_cash: 0, end: 500 },
+          flows: { cash_inflows: 0, cash_outflows: 500 },
+          adjustments: 0
         },
         {
           date: 3.days.ago.to_date,
           legacy_balances: { balance: 500, cash_balance: 500 },
-          balances: { start: 500, start_cash: 500, start_non_cash: 0, end_cash: 500, end_non_cash: 0, end: 500 }
+          balances: { start: 500, start_cash: 500, start_non_cash: 0, end_cash: 500, end_non_cash: 0, end: 500 },
+          flows: 0,
+          adjustments: 0
         },
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 600, cash_balance: 600 },
-          balances: { start: 500, start_cash: 500, start_non_cash: 0, end_cash: 600, end_non_cash: 0, end: 600 }
+          balances: { start: 500, start_cash: 500, start_non_cash: 0, end_cash: 600, end_non_cash: 0, end: 600 },
+          flows: { cash_inflows: 0, cash_outflows: 100 },
+          adjustments: 0
         }
       ]
     )
@@ -263,15 +301,12 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
 
   test "depository account with transactions and balance reconciliations" do
     account = create_account_with_ledger(
-      account: { type: Depository, balance: 20000, cash_balance: 20000, currency: "USD" },
+      account: { type: Depository, currency: "USD" },
       entries: [
-        { type: "opening_anchor", date: 10.days.ago.to_date, balance: 20000 },
-        { type: "transaction", date: 8.days.ago.to_date, amount: -5000 },
-        { type: "reconciliation", date: 6.days.ago.to_date, balance: 17000 },
-        { type: "transaction", date: 6.days.ago.to_date, amount: -500 },
-        { type: "transaction", date: 4.days.ago.to_date, amount: -500 },
-        { type: "reconciliation", date: 3.days.ago.to_date, balance: 17000 },
-        { type: "transaction", date: 1.day.ago.to_date, amount: 100 }
+        { type: "opening_anchor", date: 4.days.ago.to_date, balance: 20000 },
+        { type: "transaction", date: 3.days.ago.to_date, amount: -5000 },
+        { type: "reconciliation", date: 2.days.ago.to_date, balance: 17000 },
+        { type: "transaction", date: 1.day.ago.to_date, amount: -500 }
       ]
     )
 
@@ -280,63 +315,41 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
     assert_calculated_ledger_balances(
       calculated_data: calculated,
       expected_data: [
-        {
-          date: 10.days.ago.to_date,
-          legacy_balances: { balance: 20000, cash_balance: 20000 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 20000, end_non_cash: 0, end: 20000 }
-        },
-        {
-          date: 9.days.ago.to_date,
-          legacy_balances: { balance: 20000, cash_balance: 20000 },
-          balances: { start: 20000, start_cash: 20000, start_non_cash: 0, end_cash: 20000, end_non_cash: 0, end: 20000 }
-        },
-        {
-          date: 8.days.ago.to_date,
-          legacy_balances: { balance: 25000, cash_balance: 25000 },
-          balances: { start: 20000, start_cash: 20000, start_non_cash: 0, end_cash: 25000, end_non_cash: 0, end: 25000 }
-        },
-        {
-          date: 7.days.ago.to_date,
-          legacy_balances: { balance: 25000, cash_balance: 25000 },
-          balances: { start: 25000, start_cash: 25000, start_non_cash: 0, end_cash: 25000, end_non_cash: 0, end: 25000 }
-        },
-        {
-          date: 6.days.ago.to_date,
-          legacy_balances: { balance: 17000, cash_balance: 17000 },
-          balances: { start: 25000, start_cash: 25000, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 }
-        },
-        {
-          date: 5.days.ago.to_date,
-          legacy_balances: { balance: 17000, cash_balance: 17000 },
-          balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 }
-        },
         {
           date: 4.days.ago.to_date,
-          legacy_balances: { balance: 17500, cash_balance: 17500 },
-          balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 17500, end_non_cash: 0, end: 17500 }
+          legacy_balances: { balance: 20000, cash_balance: 20000 },
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 20000, end_non_cash: 0, end: 20000 },
+          flows: 0,
+          adjustments: { cash_adjustments: 20000, non_cash_adjustments: 0 }
         },
         {
           date: 3.days.ago.to_date,
-          legacy_balances: { balance: 17000, cash_balance: 17000 },
-          balances: { start: 17500, start_cash: 17500, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 }
+          legacy_balances: { balance: 25000, cash_balance: 25000 },
+          balances: { start: 20000, start_cash: 20000, start_non_cash: 0, end_cash: 25000, end_non_cash: 0, end: 25000 },
+          flows: { cash_inflows: 5000, cash_outflows: 0 },
+          adjustments: 0
         },
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 17000, cash_balance: 17000 },
-          balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 }
+          balances: { start: 25000, start_cash: 25000, start_non_cash: 0, end_cash: 17000, end_non_cash: 0, end: 17000 },
+          flows: 0,
+          adjustments: { cash_adjustments: -8000, non_cash_adjustments: 0 }
         },
         {
           date: 1.day.ago.to_date,
-          legacy_balances: { balance: 16900, cash_balance: 16900 },
-          balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 16900, end_non_cash: 0, end: 16900 }
+          legacy_balances: { balance: 17500, cash_balance: 17500 },
+          balances: { start: 17000, start_cash: 17000, start_non_cash: 0, end_cash: 17500, end_non_cash: 0, end: 17500 },
+          flows: { cash_inflows: 500, cash_outflows: 0 },
+          adjustments: 0
         }
       ]
     )
   end
 
-  test "accounts with transactions in multiple currencies convert to the account currency" do
+  test "accounts with transactions in multiple currencies convert to the account currency and flows are stored in account currency" do
     account = create_account_with_ledger(
-      account: { type: Depository, balance: 20000, cash_balance: 20000, currency: "USD" },
+      account: { type: Depository, currency: "USD" },
       entries: [
         { type: "opening_anchor", date: 4.days.ago.to_date, balance: 100 },
         { type: "transaction", date: 3.days.ago.to_date, amount: -100 },
@@ -357,22 +370,30 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: 4.days.ago.to_date,
           legacy_balances: { balance: 100, cash_balance: 100 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 100, end_non_cash: 0, end: 100 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 100, end_non_cash: 0, end: 100 },
+          flows: 0,
+          adjustments: { cash_adjustments: 100, non_cash_adjustments: 0 }
         },
         {
           date: 3.days.ago.to_date,
           legacy_balances: { balance: 200, cash_balance: 200 },
-          balances: { start: 100, start_cash: 100, start_non_cash: 0, end_cash: 200, end_non_cash: 0, end: 200 }
+          balances: { start: 100, start_cash: 100, start_non_cash: 0, end_cash: 200, end_non_cash: 0, end: 200 },
+          flows: { cash_inflows: 100, cash_outflows: 0 },
+          adjustments: 0
         },
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 500, cash_balance: 500 },
-          balances: { start: 200, start_cash: 200, start_non_cash: 0, end_cash: 500, end_non_cash: 0, end: 500 }
+          balances: { start: 200, start_cash: 200, start_non_cash: 0, end_cash: 500, end_non_cash: 0, end: 500 },
+          flows: { cash_inflows: 300, cash_outflows: 0 },
+          adjustments: 0
         },
         {
           date: 1.day.ago.to_date,
           legacy_balances: { balance: 1100, cash_balance: 1100 },
-          balances: { start: 500, start_cash: 500, start_non_cash: 0, end_cash: 1100, end_non_cash: 0, end: 1100 }
+          balances: { start: 500, start_cash: 500, start_non_cash: 0, end_cash: 1100, end_non_cash: 0, end: 1100 },
+          flows: { cash_inflows: 600, cash_outflows: 0 }, # Cash inflow is the USD equivalent of €500 (converted for balances table)
+          adjustments: 0
         }
       ]
     )
@@ -381,7 +402,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
   # A loan is a special case where despite being a "non-cash" account, it is typical to have "payment" transactions that reduce the loan principal (non cash balance)
   test "loan payment transactions affect non cash balance" do
     account = create_account_with_ledger(
-      account: { type: Loan, balance: 10000, cash_balance: 0, currency: "USD" },
+      account: { type: Loan, currency: "USD" },
       entries: [
         { type: "opening_anchor", date: 2.days.ago.to_date, balance: 20000 },
         # "Loan payment" of $2000, which reduces the principal
@@ -399,12 +420,16 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 20000, cash_balance: 0 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 20000, end: 20000 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 20000, end: 20000 },
+          flows: 0,
+          adjustments: { cash_adjustments: 0, non_cash_adjustments: 20000 } # Valuations adjust non-cash balance for non-cash accounts like Loans
         },
         {
           date: 1.day.ago.to_date,
           legacy_balances: { balance: 18000, cash_balance: 0 },
-          balances: { start: 20000, start_cash: 0, start_non_cash: 20000, end_cash: 0, end_non_cash: 18000, end: 18000 }
+          balances: { start: 20000, start_cash: 0, start_non_cash: 20000, end_cash: 0, end_non_cash: 18000, end: 18000 },
+          flows: { non_cash_inflows: 2000, non_cash_outflows: 0, cash_inflows: 0, cash_outflows: 0 }, # Loans are "special cases" where transactions do affect non-cash balance
+          adjustments: 0
         }
       ]
     )
@@ -413,7 +438,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
   test "non cash accounts can only use valuations and transactions will be recorded but ignored for balance calculation" do
     [ Property, Vehicle, OtherAsset, OtherLiability ].each do |account_type|
       account = create_account_with_ledger(
-        account: { type: account_type, balance: 10000, cash_balance: 10000, currency: "USD" },
+        account: { type: account_type, currency: "USD" },
         entries: [
           { type: "opening_anchor", date: 3.days.ago.to_date, balance: 500000 },
 
@@ -430,12 +455,16 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
           {
             date: 3.days.ago.to_date,
             legacy_balances: { balance: 500000, cash_balance: 0 },
-            balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 500000, end: 500000 }
+            balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 0, end_non_cash: 500000, end: 500000 },
+            flows: 0,
+            adjustments: { cash_adjustments: 0, non_cash_adjustments: 500000 }
           },
           {
             date: 2.days.ago.to_date,
             legacy_balances: { balance: 500000, cash_balance: 0 },
-            balances: { start: 500000, start_cash: 0, start_non_cash: 500000, end_cash: 0, end_non_cash: 500000, end: 500000 }
+            balances: { start: 500000, start_cash: 0, start_non_cash: 500000, end_cash: 0, end_non_cash: 500000, end: 500000 },
+            flows: 0, # Despite having a transaction, non-cash accounts ignore it for balance calculation
+            adjustments: 0
           }
         ]
       )
@@ -452,7 +481,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
   # Holdings are calculated separately and fed into the balance calculator; treated as "non-cash"
   test "investment account calculates balance from transactions and trades and treats holdings as non-cash, additive to balance" do
     account = create_account_with_ledger(
-      account: { type: Investment, balance: 10000, cash_balance: 10000, currency: "USD" },
+      account: { type: Investment, currency: "USD" },
       entries: [
         # Account starts with brokerage cash of $5000 and no holdings
         { type: "opening_anchor", date: 3.days.ago.to_date, balance: 5000 },
@@ -462,7 +491,7 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
       holdings: [
         # Holdings calculator will calculate $1000 worth of holdings
         { date: 1.day.ago.to_date, ticker: "AAPL", qty: 10, price: 100, amount: 1000 },
-        { date: Date.current, ticker: "AAPL", qty: 10, price: 100, amount: 1000 }
+        { date: Date.current, ticker: "AAPL", qty: 10, price: 110, amount: 1100 } # Price increased by 10%, so holdings value goes up by $100 without a trade
       ]
     )
 
@@ -476,29 +505,36 @@ class Balance::ForwardCalculatorTest < ActiveSupport::TestCase
         {
           date: 3.days.ago.to_date,
           legacy_balances: { balance: 5000, cash_balance: 5000 },
-          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 5000, end_non_cash: 0, end: 5000 }
+          balances: { start: 0, start_cash: 0, start_non_cash: 0, end_cash: 5000, end_non_cash: 0, end: 5000 },
+          flows: 0,
+          adjustments: { cash_adjustments: 5000, non_cash_adjustments: 0 }
         },
         {
           date: 2.days.ago.to_date,
           legacy_balances: { balance: 5000, cash_balance: 5000 },
-          balances: { start: 5000, start_cash: 5000, start_non_cash: 0, end_cash: 5000, end_non_cash: 0, end: 5000 }
+          balances: { start: 5000, start_cash: 5000, start_non_cash: 0, end_cash: 5000, end_non_cash: 0, end: 5000 },
+          flows: 0,
+          adjustments: 0
         },
         {
           date: 1.day.ago.to_date,
           legacy_balances: { balance: 5000, cash_balance: 4000 },
-          balances: { start: 5000, start_cash: 5000, start_non_cash: 0, end_cash: 4000, end_non_cash: 1000, end: 5000 }
+          balances: { start: 5000, start_cash: 5000, start_non_cash: 0, end_cash: 4000, end_non_cash: 1000, end: 5000 },
+          flows: { cash_inflows: 0, cash_outflows: 1000, non_cash_inflows: 1000, non_cash_outflows: 0, net_market_flows: 0 }, # Decrease cash by 1000, increase holdings by 1000 (i.e. "buy" of $1000 worth of AAPL)
+          adjustments: 0
         },
         {
           date: Date.current,
           legacy_balances: { balance: 5000, cash_balance: 4000 },
-          balances: { start: 5000, start_cash: 4000, start_non_cash: 1000, end_cash: 4000, end_non_cash: 1000, end: 5000 }
+          balances: { start: 5000, start_cash: 4000, start_non_cash: 1000, end_cash: 4000, end_non_cash: 1000, end: 5000 },
+          flows: { net_market_flows: 100 }, # Holdings value increased by 100, despite no change in portfolio quantities
+          adjustments: 0
         }
       ]
     )
   end
 
   private
-
     def assert_balances(calculated_data:, expected_balances:)
       # Sort calculated data by date to ensure consistent ordering
       sorted_data = calculated_data.sort_by(&:date)
diff --git a/test/support/ledger_testing_helper.rb b/test/support/ledger_testing_helper.rb
index 75c25f98..8a10dd50 100644
--- a/test/support/ledger_testing_helper.rb
+++ b/test/support/ledger_testing_helper.rb
@@ -12,6 +12,8 @@ module LedgerTestingHelper
     created_account = families(:empty).accounts.create!(
       name: "Test Account",
       accountable: account_type.new,
+      balance: 0, # Doesn't matter, ledger derives this
+      cash_balance: 0, # Doesn't matter, ledger derives this
       **account_attrs
     )
 
@@ -170,25 +172,62 @@ module LedgerTestingHelper
         end
 
         # Flow assertions
-        if flows.any?
-          assert_equal flows[:cash_inflows], calculated_balance.cash_inflows.to_d,
-            "Cash inflows mismatch for #{date}" if flows.key?(:cash_inflows)
+        # If flows passed is 0, we assert all columns are 0
+        if flows.is_a?(Integer) && flows == 0
+          assert_equal 0, calculated_balance.cash_inflows.to_d,
+            "Cash inflows mismatch for #{date}"
 
-          assert_equal flows[:cash_outflows], calculated_balance.cash_outflows.to_d,
-            "Cash outflows mismatch for #{date}" if flows.key?(:cash_outflows)
+          assert_equal 0, calculated_balance.cash_outflows.to_d,
+            "Cash outflows mismatch for #{date}"
 
-          assert_equal flows[:non_cash_inflows], calculated_balance.non_cash_inflows.to_d,
-            "Non-cash inflows mismatch for #{date}" if flows.key?(:non_cash_inflows)
+          assert_equal 0, calculated_balance.non_cash_inflows.to_d,
+            "Non-cash inflows mismatch for #{date}"
 
-          assert_equal flows[:non_cash_outflows], calculated_balance.non_cash_outflows.to_d,
-            "Non-cash outflows mismatch for #{date}" if flows.key?(:non_cash_outflows)
+          assert_equal 0, calculated_balance.non_cash_outflows.to_d,
+            "Non-cash outflows mismatch for #{date}"
 
-          assert_equal flows[:net_market_flows], calculated_balance.net_market_flows.to_d,
-            "Net market flows mismatch for #{date}" if flows.key?(:net_market_flows)
+          assert_equal 0, calculated_balance.net_market_flows.to_d,
+            "Net market flows mismatch for #{date}"
+        elsif flows.is_a?(Hash) && flows.any?
+          # Cash flows - must be asserted together
+          if flows.key?(:cash_inflows) || flows.key?(:cash_outflows)
+            assert flows.key?(:cash_inflows) && flows.key?(:cash_outflows),
+              "Cash inflows and outflows must be asserted together for #{date}"
+
+            assert_equal flows[:cash_inflows], calculated_balance.cash_inflows.to_d,
+              "Cash inflows mismatch for #{date}"
+
+            assert_equal flows[:cash_outflows], calculated_balance.cash_outflows.to_d,
+              "Cash outflows mismatch for #{date}"
+          end
+
+          # Non-cash flows - must be asserted together
+          if flows.key?(:non_cash_inflows) || flows.key?(:non_cash_outflows)
+            assert flows.key?(:non_cash_inflows) && flows.key?(:non_cash_outflows),
+              "Non-cash inflows and outflows must be asserted together for #{date}"
+
+            assert_equal flows[:non_cash_inflows], calculated_balance.non_cash_inflows.to_d,
+              "Non-cash inflows mismatch for #{date}"
+
+            assert_equal flows[:non_cash_outflows], calculated_balance.non_cash_outflows.to_d,
+              "Non-cash outflows mismatch for #{date}"
+          end
+
+          # Market flows - can be asserted independently
+          if flows.key?(:net_market_flows)
+            assert_equal flows[:net_market_flows], calculated_balance.net_market_flows.to_d,
+              "Net market flows mismatch for #{date}"
+          end
         end
 
         # Adjustment assertions
-        if adjustments.any?
+        if adjustments.is_a?(Integer) && adjustments == 0
+          assert_equal 0, calculated_balance.cash_adjustments.to_d,
+            "Cash adjustments mismatch for #{date}"
+
+          assert_equal 0, calculated_balance.non_cash_adjustments.to_d,
+            "Non-cash adjustments mismatch for #{date}"
+        elsif adjustments.is_a?(Hash) && adjustments.any?
           assert_equal adjustments[:cash_adjustments], calculated_balance.cash_adjustments.to_d,
             "Cash adjustments mismatch for #{date}" if adjustments.key?(:cash_adjustments)