Your design looks like a log of transactions. To judge if it is good or not, you need to examine it against business requirements. For example, How can you tell the amount available in each account? How do you deal with a loan? How do you deal with a Credit Card? Do you need to communicate the transactions with another accounting system (in such case you need to use debit, credit, expense, liability, etc. and the rest of accounting rules). Of course you need a timestamp. However, some time you may perform a transaction but this transaction is not fully executed immediately (according to banking rules). This is common in case of international money transfers. In that case you need more than one timestamp. You'd also take care of recording cancelled transactions. Financial institutions never physically delete transactions. In addition who performed the transaction is also very important. Last point I am going to mention is related transactions. Back to the money transfer case, most of the time there would be transaction fees, and one needs to relate the feels to the transaction. Oh, one more point. Your current model assumes single currency which may or may not good - Check the business requirements. Designing such a system is not trivial as one may think. In fact its more complex than many would think.