If you have any trouble finding your Home Library folder you can open Finder and hold down the option key while selecting the Go menu and the Library folder option should occur or you can open Finder and select Go -> Go to Folder and copy and paste in the following:
This should pull up your local Library folder.
If you're using Windows, it should be located under your login directory at:
C:\Documents and Settings\(yourusername)\.moneydance\errlog.txt
Depending on your version of Windows
If you're using Linux it should be located in your home folder at: