basic check book type application design

[bookouri]

I have to do something I've never tried before. I have to create a very basic check book type application. The user will have several different accounts, each year when they get their budget, they will set an available budget amount and as they spend the budget money in each account they will add transactions so they can tell at any time how much they have left in each account. My plan is to create a table of accounts that would just be the account number and total available. I'd have another table of transactions, and every time a transaction is added I would have it update the account table amount for the appropriate account number. I also thought about just having a transaction table with debits and credits that continually generates a current amount. Can anybody give me a brief synopsis of the "right" way to do something like this?

thanks for any suggestions.