diff --git a/schema.graphql b/schema.graphql
index d007be7a..a867fc94 100644
--- a/schema.graphql
+++ b/schema.graphql
@@ -242,9 +242,15 @@ type ReserveMetrics @entity {
   allocations: [ReserveAllocationMetrics] @derivedFrom(field: "reserveMetrics")
 }
 
-type Balances @entity {
+type Balance @entity {
   id: ID!
   address: String @index
   balance: BigInt
   denom: String  @index
-}
\ No newline at end of file
+  account: Account!
+}
+
+type Account @entity {
+  id: ID!
+  balances: [Balance] @derivedFrom(field: "account")
+}
diff --git a/src/mappings/events/balances.ts b/src/mappings/events/balances.ts
index 9e574673..63ee67de 100644
--- a/src/mappings/events/balances.ts
+++ b/src/mappings/events/balances.ts
@@ -1,4 +1,4 @@
-import { Balances } from '../../types';
+import { Account, Balance } from '../../types';
 import { BALANCE_FIELDS } from '../constants';
 import { b64decode } from '../utils';
 import { CosmosEvent } from '@subql/types-cosmos';
@@ -72,7 +72,7 @@ export const balancesEventKit = () => {
     address: string,
     denom: string
   ): Promise<boolean> {
-    const balance = await Balances.getByFields([
+    const balance = await Balance.getByFields([
       ['address', '=', address],
       ['denom', '=', denom],
     ]);
@@ -88,16 +88,25 @@ export const balancesEventKit = () => {
     denom: string,
     primaryKey: string
   ) {
-    const newBalance = new Balances(primaryKey);
+    const newBalance = new Balance(primaryKey, address);
     newBalance.address = address;
     newBalance.balance = BigInt(0);
     newBalance.denom = denom;
-
     await newBalance.save();
 
+    await createAccountIfNotExists(address);
+
     logger.info(`Created new entry for address: ${address}`);
   }
 
+  async function createAccountIfNotExists(address: string): Promise<void> {
+    const account = await Account.get(address);
+    if (!account) {
+      const newAccount = new Account(address);
+      await newAccount.save();
+    }
+  }
+
   function validateTransaction(amount: string | null): TransactionData {
     const result: TransactionData = {
       isValidTransaction: false,
@@ -127,7 +136,7 @@ export const balancesEventKit = () => {
     amount: bigint,
     operation: Operation
   ): Promise<void> {
-    const balances = await Balances.getByFields([
+    const balances = await Balance.getByFields([
       ['address', '=', address],
       ['denom', '=', denom],
     ]);
diff --git a/src/mappings/mappingHandlers.ts b/src/mappings/mappingHandlers.ts
index 46b5471f..7e8a5ed0 100644
--- a/src/mappings/mappingHandlers.ts
+++ b/src/mappings/mappingHandlers.ts
@@ -1,20 +1,6 @@
 import {
   StateChangeEvent,
-  OraclePrice,
-  OraclePriceDaily,
-  PsmMetric,
-  PsmGovernance,
-  Wallet,
-  Vault,
-  VaultManagerMetrics,
-  VaultManagerGovernance,
-  ReserveMetrics,
-  ReserveAllocationMetrics,
-  BoardAux,
-  VaultManagerMetricsDaily,
-  PsmMetricDaily,
-  ReserveAllocationMetricsDaily,
-  Balances,
+  Balance,
 } from "../types";
 import { CosmosBlock, CosmosEvent } from "@subql/types-cosmos";
 import {
@@ -33,7 +19,7 @@ import {
   STORE_NAME_KEY,
   SUBKEY_KEY,
   UNPROVED_VALUE_KEY,
-  BALANCE_FIELDS
+  BALANCE_FIELDS,
 } from "./constants";
 import { psmEventKit } from "./events/psm";
 import { boardAuxEventKit } from "./events/boardAux";
@@ -240,7 +226,7 @@ export async function initiateBalancesTable(block: CosmosBlock): Promise<void> {
     for (let element of data.balances) {
       let newBalance;
       for (const coin of element.coins) {
-        newBalance = new Balances(`${element.address}-${coin.denom}`);
+        newBalance = new Balance(`${element.address}-${coin.denom}`, element.address);
         newBalance.address = element.address;
         newBalance.balance = BigInt(coin.amount);
         newBalance.denom = coin.denom;