Income and Expenses or Transfers Balance

HB's Avatar

HB

18 Jan, 2022 09:19 PM

Hi there,
Attached gives the stucture of the curent accounts I have and corresponding credit cards. I am having problems in trying to detemine what is my net balance per month across all the accounts.
Can you please suggest what the best approach that I can take?

I have fully purchased Moneydance version - 2022.2 (4060).

Many thanks in advance.
HB

  1. 1 Posted by HB on 01 Feb, 2022 07:23 PM

    HB's Avatar

    Any thoughts on which report that can provide me the monthly net from my income and expenditure across my different current bank accounts and credit cards, see attached spreadsheet giving an example of the structure?
    Thanks in advance.
    HB

  2. 2 Posted by dwg on 01 Feb, 2022 08:19 PM

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    I'm a fellow user.

    I'm not quite sure what you are after, In one sentence you are talking about the net balance across all accounts in another about Income and expense across accounts, there are two different things and show different results.

    If you want to find your net account balance at a point in time, you can use the Account Balances report, if you want to see Income and expense details and any surplus/deficit you can use either of the Income and Expense reports - depending on the level of detail required.

    If these do not meet your needs perhaps you can expand on your requirements.

  3. 3 Posted by HB on 03 Feb, 2022 09:25 PM

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    Hi dwg,
    Thanks for your reply.
    As in the attached spreadsheet, I trying to show what current accounts and credit cards I have. The main checking account is Bank1. From this I transfer some monies to Bank 2 & 3. Also the full credit card payments for Bank1CC and Bank2CC come from Bank1. Whereas for full payment for Bank3CC comes from Bank3. Furthermore, occussionally I use debit card for Bank2 & 3.
    Therefore, what I want to know is how much I have spent and whether am I in surplus or overspent for a given month.
    I hope this helps.
    Many thanks in advance

  4. 4 Posted by HB on 03 Feb, 2022 10:08 PM

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    Please find updated attached file exmple.

  5. 5 Posted by dwg on 03 Feb, 2022 10:26 PM

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    It looks like you are trying to show surplus/deficit on an account by account basis and also what you call some expenses Moneydance thinks of as transfers.

    The movement of money between accounts to Moneydance is a transfer not an expense in the software the expense is incurred when you use the credit card to buy something, you are looking more at cash flow this point, but cash flows are typically not reported at an account level.

    While many of the reports in Moneydance can be set to give you a view of one account they are more geared to give a view of your finances in total but not split on an account by account basis s this generally has little meaning in a total sense.

    I do not think there will be one report that will give you the sort of summary you are after. Certainly the cash flow report on an account by account basis will give you some of the detail you want, you can use an account balances report to get your balances at a specific date, the transactions reports can show transactions but there is not going to be a debit and credit column like you have in a journal.

    There is not journal report and that is something the company may like to consider for a future enhancement I'm not sure what level of demand there would be for such a report, but I do not think it would be a hard report to create.

    Other users may be able to think of some other approaches that could be taken, but they are escaping me at the moment.

  6. System closed this discussion on 05 May, 2022 10:30 PM.

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