Reconciliation end statement balance is always zero

wjmadia's Avatar

wjmadia

31 May, 2020 02:36 PM

I have my investment accounts all set up for online banking. but when I go to reconcile them, the end statement balance always shows as zero instead of the balance that my bank account shows. All the transactions get downloaded but not the correct end statement balance.
what am I doing wrong?

  1. 1 Posted by -Kevin N. on 31 May, 2020 02:50 PM

    -Kevin N.'s Avatar

    Hi wjmadia,

    The reconcile process of an investment account only pertains to the cash balance of the account.

    The 'Cash Balance' of an investment account register is an indicator of the amount of free cash in the account - not the value of the underlying investments.

    It is not uncommon for the 'Cash Balance' column of an investment account register to indicate a $0.00 balance. In fact, it's something I strive for. Free cash in my investment accounts is swept into a Money Market Fund which zero's out the 'Cash Balance'.

    if on the other hand, you are not talking about the 'Cash Balance' could you describe in more detail the issue? Maybe provide a screenshot or two.

    Keep in mind that these are public forums. Make sure that there is no sensitive information in the screenshot (e.g. account numbers) before attaching it.

    -Kevin N. (not a member of MD support)

  2. 2 Posted by wjmadia on 31 May, 2020 04:23 PM

    wjmadia's Avatar

    Thanks Kevin,
    I’d really like to keep track of value of my investment account, which in my “register” view is called the “cash balance”. But when I try to reconcile that account, it shows the “beginning statement balance” but the “end statement balance” is always zero, instead of the balance shown on my back statement.

    bill

    From: "-Kevin N." <[email blocked]>
    Reply-To: "[email blocked]" <[email blocked]>

  3. 3 Posted by -Kevin N. on 31 May, 2020 05:46 PM

    -Kevin N.'s Avatar

    Hi Bill,

    I’d really like to keep track of value of my investment account, which in my “register” view is called the “cash balance”.

    The above statement is incorrect unless you only hold cash in your investment account. As I stated in my prior post, the 'Cash Balance' column in the 'Register' of an investment account does NOT reflect the value of the underlying investments. It reflects the value of the free cash in the account.

    To view the value of your underlying investments, look to the 'Portfolio View' tab of the investment account.

    -Kevin N. (not a member of MD support)

  4. 4 Posted by wjmadia on 31 May, 2020 06:11 PM

    wjmadia's Avatar

    Kevin,
    Thanks for trying to help, I’ll try one more time. The value of my investment is available in the portfolio view but unlike the other accounts, it does not update automatically as values change. My checking and savings accounts update and show my current balances (which agree with my back statements) but my investment cash balances never change even though the value of the underlying stocks/bonds do change daily. How do I keep these investment balances up to date with the changing values of my investments?

    bill

    From: "-Kevin N." <[email blocked]>
    Reply-To: "[email blocked]" <[email blocked]>

  5. 5 Posted by -Kevin N. on 31 May, 2020 09:49 PM

    -Kevin N.'s Avatar

    Hi Bill,

    OK, I think we need to take a different approach.

    First, is that the value of your investments in the account is NOT the same as the Cash Balance of the account. It may sound like semantics, but when the two terms are misused, it can cause confusion.

    In order for the value of investments to update, you need to import price quotes into Moneydance.

    Are you importing price quotes for your investments? To clarify, importing transactions is NOT the same as importing price quotes.

    Moneydance provides two extensions to import price quotes. The Quote Loader and the Quotes and Exchange Rates Updater. You can also manually import a formatted .csv file but that's a discussion for another time.

    If you haven't done so already, install one of two price quote updater extensions and run it so as to download and import your price quotes. IMO, the Quote Loader is superior.

    Look to the following post from forum member derekkent23 for information on the latest version of the Quote Loader extension. Download the pdf files linked to his post. Within the pdf file, along with written instructions, is a link to a video of instructions on how to use the extension.
    https://infinitekind.tenderapp.com/discussions/investments/4914-the...

    Let me know how you make out. OK?

    -Kevin N. (not a member of MD support)

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