diff --git a/handler/transaction.go b/handler/transaction.go
index 99494a3..5713be6 100644
--- a/handler/transaction.go
+++ b/handler/transaction.go
@@ -137,7 +137,8 @@ func (h TransactionImpl) handleUpdateTransaction() http.HandlerFunc {
 			TreasureChestId: r.FormValue("treasure-chest-id"),
 			Value:           r.FormValue("value"),
 			Timestamp:       r.FormValue("timestamp"),
-			Note:            r.FormValue("note"),
+			Party:           r.FormValue("party"),
+			Description:     r.FormValue("description"),
 		}
 
 		if input.Id == "new" {
diff --git a/migration/006_transaction_description.up.sql b/migration/006_transaction_description.up.sql
new file mode 100644
index 0000000..a667fd0
--- /dev/null
+++ b/migration/006_transaction_description.up.sql
@@ -0,0 +1,4 @@
+
+ALTER TABLE "transaction" DROP COLUMN note;
+ALTER TABLE "transaction" ADD COLUMN party TEXT;
+ALTER TABLE "transaction" ADD COLUMN description TEXT;
diff --git a/service/transaction.go b/service/transaction.go
index eb2c2d7..4b789f9 100644
--- a/service/transaction.go
+++ b/service/transaction.go
@@ -73,14 +73,14 @@ func (s TransactionImpl) Add(user *types.User, transactionInput types.Transactio
 	}
 
 	r, err := tx.NamedExec(`
-		INSERT INTO "transaction" (id, user_id, account_id, treasure_chest_id, value, timestamp, note, error, created_at, created_by)
-		VALUES (:id, :user_id, :account_id, :treasure_chest_id, :value, :timestamp, :note, :error, :created_at, :created_by)`, transaction)
+		INSERT INTO "transaction" (id, user_id, account_id, treasure_chest_id, value, timestamp, party, description, error, created_at, created_by)
+		VALUES (:id, :user_id, :account_id, :treasure_chest_id, :value, :timestamp, :party, :description, :error, :created_at, :created_by)`, transaction)
 	err = db.TransformAndLogDbError("transaction Insert", r, err)
 	if err != nil {
 		return nil, err
 	}
 
-	if transaction.AccountId != nil {
+	if transaction.Error == nil && transaction.AccountId != nil {
 		r, err = tx.Exec(`
 			UPDATE account
 			SET current_balance = current_balance + ?
@@ -91,7 +91,7 @@ func (s TransactionImpl) Add(user *types.User, transactionInput types.Transactio
 		}
 	}
 
-	if transaction.TreasureChestId != nil {
+	if transaction.Error == nil && transaction.TreasureChestId != nil {
 		r, err = tx.Exec(`
 			UPDATE treasure_chest
 			SET current_balance = current_balance + ?
@@ -141,7 +141,7 @@ func (s TransactionImpl) Update(user *types.User, input types.TransactionInput)
 		return nil, types.ErrInternal
 	}
 
-	if transaction.AccountId != nil {
+	if transaction.Error == nil && transaction.AccountId != nil {
 		r, err := tx.Exec(`
 			UPDATE account
 			SET current_balance = current_balance - ?
@@ -151,7 +151,7 @@ func (s TransactionImpl) Update(user *types.User, input types.TransactionInput)
 			return nil, err
 		}
 	}
-	if transaction.TreasureChestId != nil {
+	if transaction.Error == nil && transaction.TreasureChestId != nil {
 		r, err := tx.Exec(`
 			UPDATE treasure_chest
 			SET current_balance = current_balance - ?
@@ -167,7 +167,7 @@ func (s TransactionImpl) Update(user *types.User, input types.TransactionInput)
 		return nil, err
 	}
 
-	if transaction.AccountId != nil {
+	if transaction.Error == nil && transaction.AccountId != nil {
 		r, err := tx.Exec(`
 			UPDATE account
 			SET current_balance = current_balance + ?
@@ -177,7 +177,7 @@ func (s TransactionImpl) Update(user *types.User, input types.TransactionInput)
 			return nil, err
 		}
 	}
-	if transaction.TreasureChestId != nil {
+	if transaction.Error == nil && transaction.TreasureChestId != nil {
 		r, err := tx.Exec(`
 			UPDATE treasure_chest
 			SET current_balance = current_balance + ?
@@ -195,7 +195,8 @@ func (s TransactionImpl) Update(user *types.User, input types.TransactionInput)
 			treasure_chest_id = :treasure_chest_id,
 			value = :value,
 			timestamp = :timestamp,
-			note = :note,
+			party = :party,
+			description = :description,
 			error = :error,
 			updated_at = :updated_at,
 			updated_by = :updated_by
@@ -275,33 +276,45 @@ func (s TransactionImpl) Delete(user *types.User, id string) error {
 		_ = tx.Rollback()
 	}()
 
-	r, err := tx.Exec(`
-		UPDATE account
-		SET current_balance = current_balance - (SELECT value FROM "transaction" WHERE id = ? AND user_id = ?)
-		WHERE id = (SELECT account_id FROM "transaction" WHERE id = ? AND user_id = ?)
-		`, uuid, user.Id, uuid, user.Id)
-	err = db.TransformAndLogDbError("transaction Delete", r, err)
-	if err != nil && err != db.ErrNotFound {
-		return err
-	}
-	r, err = tx.Exec(`
-		UPDATE treasure_chest
-		SET current_balance = current_balance - (SELECT value FROM "transaction" WHERE id = ? AND user_id = ?)
-		WHERE id = (SELECT treasure_chest_id FROM "transaction" WHERE id = ? AND user_id = ?)
-		`, uuid, user.Id, uuid, user.Id)
-	err = db.TransformAndLogDbError("transaction Delete", r, err)
-	if err != nil && err != db.ErrNotFound {
+	var transaction types.Transaction
+	err = tx.Get(&transaction, `SELECT * FROM "transaction" WHERE user_id = ? AND id = ?`, user.Id, uuid)
+	err = db.TransformAndLogDbError("transaction Delete", nil, err)
+	if err != nil {
 		return err
 	}
 
-	r, err = tx.Exec("DELETE FROM \"transaction\" WHERE id = ? AND user_id = ?", uuid, user.Id)
+	if transaction.Error == nil && transaction.AccountId != nil {
+		r, err := tx.Exec(`
+			UPDATE account
+			SET current_balance = current_balance - ?
+			WHERE id = ?
+				AND user_id = ?`, transaction.Value, transaction.AccountId, user.Id)
+		err = db.TransformAndLogDbError("transaction Delete", r, err)
+		if err != nil && err != db.ErrNotFound {
+			return err
+		}
+	}
+
+	if transaction.Error == nil && transaction.TreasureChestId != nil {
+		r, err := tx.Exec(`
+			UPDATE treasure_chest
+			SET current_balance = current_balance - ?
+			WHERE id = ?
+				AND user_id = ?`, transaction.Value, transaction.TreasureChestId, user.Id)
+		err = db.TransformAndLogDbError("transaction Delete", r, err)
+		if err != nil && err != db.ErrNotFound {
+			return err
+		}
+	}
+
+	r, err := tx.Exec("DELETE FROM \"transaction\" WHERE id = ? AND user_id = ?", uuid, user.Id)
 	err = db.TransformAndLogDbError("transaction Delete", r, err)
 	if err != nil {
 		return err
 	}
 
 	err = tx.Commit()
-	err = db.TransformAndLogDbError("transaction RecalculateBalances", nil, err)
+	err = db.TransformAndLogDbError("transaction Delete", nil, err)
 	if err != nil {
 		return err
 	}
@@ -375,8 +388,9 @@ func (s TransactionImpl) RecalculateBalances(user *types.User) error {
 		if err != nil {
 			return err
 		}
+
 		if transaction.Error != nil {
-			log.Info("err: %s", *transaction.Error)
+			continue
 		}
 
 		if transaction.AccountId != nil {
@@ -491,8 +505,14 @@ func (s TransactionImpl) validateAndEnrichTransaction(tx *sqlx.Tx, oldTransactio
 		return nil, fmt.Errorf("could not parse timestamp: %w", ErrBadRequest)
 	}
 
-	if input.Note != "" {
-		err = validateString(input.Note, "note")
+	if input.Party != "" {
+		err = validateString(input.Party, "party")
+		if err != nil {
+			return nil, err
+		}
+	}
+	if input.Description != "" {
+		err = validateString(input.Description, "description")
 		if err != nil {
 			return nil, err
 		}
@@ -506,7 +526,8 @@ func (s TransactionImpl) validateAndEnrichTransaction(tx *sqlx.Tx, oldTransactio
 		TreasureChestId: treasureChestUuid,
 		Value:           valueInt,
 		Timestamp:       timestamp,
-		Note:            input.Note,
+		Party:           input.Party,
+		Description:     input.Description,
 
 		CreatedAt: createdAt,
 		CreatedBy: createdBy,
diff --git a/template/transaction/transaction.templ b/template/transaction/transaction.templ
index 207f469..d60288d 100644
--- a/template/transaction/transaction.templ
+++ b/template/transaction/transaction.templ
@@ -30,13 +30,14 @@ templ EditTransaction(transaction *types.Transaction, accounts []*types.Account,
 	{{
 		var (
 			timestamp time.Time
-			value     string
 
 			id        string
 			cancelUrl string
 		)
-		note := ""
+		party := ""
+		description := ""
 		accountId := ""
+		value := "0.00"
 		treasureChestId := ""
 		if transaction == nil {
 			timestamp = time.Now().UTC().Truncate(time.Minute)
@@ -45,7 +46,8 @@ templ EditTransaction(transaction *types.Transaction, accounts []*types.Account,
 			cancelUrl = "/empty"
 		} else {
 			timestamp = transaction.Timestamp.UTC().Truncate(time.Minute)
-			note = transaction.Note
+			party = transaction.Party
+			description = transaction.Description
 			if transaction.AccountId != nil {
 				accountId = transaction.AccountId.String()
 			}
@@ -74,11 +76,18 @@ templ EditTransaction(transaction *types.Transaction, accounts []*types.Account,
 					value={ timestamp.String() }
 					class="bg-white input datetime"
 				/>
-				<label for="note" class="text-sm text-gray-500">Note</label>
+				<label for="party" class="text-sm text-gray-500">Party</label>
 				<input
-					name="note"
+					name="party"
 					type="text"
-					value={ note }
+					value={ party }
+					class="mr-auto bg-white input"
+				/>
+				<label for="description" class="text-sm text-gray-500">Description</label>
+				<input
+					name="description"
+					type="text"
+					value={ description }
 					class="mr-auto bg-white input"
 				/>
 				<label for="value" class="text-sm text-gray-500">Value (€)</label>
diff --git a/types/transaction.go b/types/transaction.go
index 9aaf74c..3eaa9ad 100644
--- a/types/transaction.go
+++ b/types/transaction.go
@@ -17,8 +17,10 @@ type Transaction struct {
 	Id     uuid.UUID
 	UserId uuid.UUID `db:"user_id"`
 
-	Timestamp time.Time
-	Note      string
+	Timestamp   time.Time
+	Company     string
+	Party       string
+	Description string
 
 	// account id is only nil, if the transaction is a deposit to a treasure chest
 	AccountId       *uuid.UUID `db:"account_id"`
@@ -40,5 +42,6 @@ type TransactionInput struct {
 	TreasureChestId string
 	Value           string
 	Timestamp       string
-	Note            string
+	Party           string
+	Description     string
 }