Overdrafts on Bank Checking A/c's

mypfinance's Avatar

mypfinance

10 May, 2009 09:44 PM

Hi all

A newbie to Moneydance here. Can anyone tell me how to set up a bank account with an overdraft facility? All I can see is an option to enter the initial balance in the edit account tab, but nothing to acknowledge the £500 overdraft facility that I have.

Any answers are gratefully received.

Warm regards

Mark

  1. 1 Posted by Brian Adler on 12 May, 2009 10:33 PM

    Brian Adler's Avatar

    Mark, I would suggest that you create a separate account for the overdraft protection. And that account should be set up as a credit card account. Whenever you have a transaction that triggers your overdraft account, you can record a transfer (xfer) from that account into your bank account.

  2. Brian Adler closed this discussion on 12 May, 2009 10:33 PM.

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