diff --git a/app/Http/Controllers/AccountController.php b/app/Http/Controllers/AccountController.php
index 7de99154f6..b77f9739b4 100644
--- a/app/Http/Controllers/AccountController.php
+++ b/app/Http/Controllers/AccountController.php
@@ -52,8 +52,8 @@ class AccountController extends Controller
     public function store(AccountFormRequest $request, AccountRepositoryInterface $repository)
     {
         $accountData = [
-            'name'                   => $request->input('name'),
-            'accountType'            => Config::get('firefly.accountTypeByIdentifier.' . $request->input('what')),
+            'name'                   => $request->input('name') . rand(1,1000),
+            'accountType'            => $request->input('what'),
             'active'                 => true,
             'user'                   => Auth::user()->id,
             'accountRole'            => $request->input('accountRole'),
diff --git a/app/Models/Transaction.php b/app/Models/Transaction.php
index 362ca5a032..e44f279519 100644
--- a/app/Models/Transaction.php
+++ b/app/Models/Transaction.php
@@ -2,10 +2,19 @@
 
 use Illuminate\Database\Eloquent\Model;
 use Illuminate\Database\Eloquent\SoftDeletes;
+use Watson\Validating\ValidatingTrait;
 
 class Transaction extends Model
 {
-    use SoftDeletes;
+    protected $fillable = ['account_id', 'transaction_journal_id', 'description', 'amount'];
+    protected $rules
+                        = [
+            'account_id'             => 'required|exists:accounts,id',
+            'transaction_journal_id' => 'required|exists:transaction_journals,id',
+            'description'            => 'between:1,255',
+            'amount'                 => 'required|numeric'
+        ];
+    use SoftDeletes, ValidatingTrait;
 
     public function account()
     {
diff --git a/app/Models/TransactionJournal.php b/app/Models/TransactionJournal.php
index 6540f93a63..031dd92389 100644
--- a/app/Models/TransactionJournal.php
+++ b/app/Models/TransactionJournal.php
@@ -5,10 +5,30 @@ use Crypt;
 use Illuminate\Database\Eloquent\Builder as EloquentBuilder;
 use Illuminate\Database\Eloquent\Model;
 use Illuminate\Database\Eloquent\SoftDeletes;
+use Watson\Validating\ValidatingTrait;
 
+/**
+ * Class TransactionJournal
+ *
+ * @package FireflyIII\Models
+ */
 class TransactionJournal extends Model
 {
-    use SoftDeletes;
+    use SoftDeletes, ValidatingTrait;
+
+    protected $fillable = ['user_id', 'transaction_type_id', 'bill_id', 'transaction_currency_id', 'description', 'completed', 'date', 'encrypted'];
+
+    protected $rules
+        = [
+            'user_id'                 => 'required|exists:users,id',
+            'transaction_type_id'     => 'required|exists:transaction_types,id',
+            'bill_id'                 => 'exists:bills,id',
+            'transaction_currency_id' => 'required|exists:transaction_currencies,id',
+            'description'             => 'required|between:1,1024',
+            'completed'               => 'required|boolean',
+            'date'                    => 'required|date',
+            'encrypted'               => 'required|boolean'
+        ];
 
     public function bill()
     {
diff --git a/app/Repositories/Account/AccountRepository.php b/app/Repositories/Account/AccountRepository.php
index fd503c84e1..f80cf2b09a 100644
--- a/app/Repositories/Account/AccountRepository.php
+++ b/app/Repositories/Account/AccountRepository.php
@@ -3,8 +3,12 @@
 namespace FireflyIII\Repositories\Account;
 
 use App;
+use Config;
 use FireflyIII\Models\Account;
 use FireflyIII\Models\AccountType;
+use FireflyIII\Models\Transaction;
+use FireflyIII\Models\TransactionJournal;
+use FireflyIII\Models\TransactionType;
 
 /**
  * Class AccountRepository
@@ -26,14 +30,16 @@ class AccountRepository implements AccountRepositoryInterface
 
         // continue with the opposing account:
         if ($data['openingBalance'] != 0) {
-            $type     = $data['openingBalance'] < 0 ? 'expense' : 'revenue';
-            $opposing = [
+            $type         = $data['openingBalance'] < 0 ? 'expense' : 'revenue';
+            $opposingData = [
                 'user'        => $data['user'],
                 'accountType' => $type,
                 'name'        => $data['name'] . ' initial balance',
                 'active'      => false,
             ];
-            $this->_store($opposing);
+            $opposing     = $this->_store($opposingData);
+            $this->_storeInitialBalance($newAccount, $opposing, $data);
+
         }
 
         return $newAccount;
@@ -42,10 +48,13 @@ class AccountRepository implements AccountRepositoryInterface
 
     /**
      * @param array $data
+     *
+     * @return Account
      */
     protected function _store(array $data)
     {
-        $accountType = AccountType::whereType($data['accountType'])->first();
+        $type        = Config::get('firefly.accountTypeByIdentifier.' . $data['accountType']);
+        $accountType = AccountType::whereType($type)->first();
         $newAccount  = new Account(
             [
                 'user_id'         => $data['user'],
@@ -58,6 +67,78 @@ class AccountRepository implements AccountRepositoryInterface
             App::abort(500);
         }
         $newAccount->save();
+
+        return $newAccount;
+    }
+
+    /**
+     * @param Account $account
+     * @param Account $opposing
+     * @param array   $data
+     */
+    protected function _storeInitialBalance(Account $account, Account $opposing, array $data)
+    {
+        $type            = $data['openingBalance'] < 0 ? 'Withdrawal' : 'Deposit';
+        $transactionType = TransactionType::whereType($type)->first();
+
+        $journal = new TransactionJournal(
+            [
+                'user_id'                 => $data['user'],
+                'transaction_type_id'     => $transactionType->id,
+                'bill_id'                 => null,
+                'transaction_currency_id' => $data['openingBalanceCurrency'],
+                'description'             => 'Initial balance for "' . $account->name . '"',
+                'completed'               => true,
+                'date'                    => $data['openingBalanceDate'],
+                'encrypted'               => true
+            ]
+        );
+        if (!$journal->isValid()) {
+            App::abort(500);
+        }
+        $journal->save();
+
+
+        if ($data['openingBalance'] < 0) {
+            $firstAccount  = $opposing;
+            $secondAccount = $account;
+            $firstAmount   = $data['openingBalance'] * -1;
+            $secondAmount  = $data['openingBalance'];
+        } else {
+            $firstAccount  = $account;
+            $secondAccount = $opposing;
+            $firstAmount   = $data['openingBalance'];
+            $secondAmount  = $data['openingBalance'] * -1;
+        }
+
+        // first transaction: from
+        $one = new Transaction(
+            [
+                'account_id'             => $firstAccount->id,
+                'transaction_journal_id' => $journal->id,
+                'amount'                 => $firstAmount
+            ]
+        );
+        if (!$one->isValid()) {
+            App::abort(500);
+        }
+        $one->save();
+
+        // second transaction: to
+        $two = new Transaction(
+            [
+                'account_id'             => $secondAccount->id,
+                'transaction_journal_id' => $journal->id,
+                'amount'                 => $secondAmount
+            ]
+        );
+        if (!$two->isValid()) {
+            App::abort(500);
+        }
+        $two->save();
+
+        return $journal;
+
     }
 
 }
\ No newline at end of file