Cash balance incorrect

bruceinlouisville's Avatar

bruceinlouisville

25 Jul, 2020 07:29 PM

Hello! Are there any known problems with the cash balance calculations in investment accounts?

I am trying to reconcile my Moneydance transaction register with my broker's statements, and am finding multiple places where Moneydance just doesn't subtract correctly. Example:

Cash balance – 370,233.13
Purchase – 22,779.54
Correct result – 347,453.59
Moneydance balance – 347,452.81

Obviously, an error of 0.78 isn't going to matter in the grand scheme of things – but still, I would expect the program to be able to do basic math. :-)

Any ideas?

  1. 1 Posted by bruceinlouisvil... on 25 Jul, 2020 07:57 PM

    bruceinlouisville's Avatar

    Extra information -- After doing some more spreadsheet work, I found that Moneydance subtracted incorrectly on every other transaction for a series of seven transactions, always subtracting too much, as follows:

    #1 – off by 0.78
    #2 – correct
    #3 – off by 0.39
    #4 – correct
    #5 – off by 0.78
    #6 – correct
    #7 – off by 0.39

    The resulting 2.34 was the difference between the ending Moneydance cash balance and my broker's ending cash balance.

  2. 2 Posted by bruceinlouisvil... on 01 Aug, 2020 06:11 PM

    bruceinlouisville's Avatar

    I'm a little surprised that this hasn't gotten any attention from support staff. A bookkeeping app that doesn't subtract properly seems, uhm, problematic.

    Thoughts?

  3. 3 Posted by dantdavis on 03 Aug, 2020 03:13 AM

    dantdavis's Avatar

    just a user here.
    I'm sure you are being a little facetious in saying moneydance can't subtract correctly, but obviously you want a solution to the problem.

    I'm assuming you are getting the values downloaded via direct connect, right? If so, have you examined that file to see what your brokerage is telling moneydance? as you point out, the values are small, so maybe the OFX values have a rounding problem from the brokerage?

    I DO NOT know the answer, just that the problem is not "inaccurate subtraction", but more like values provided are rounded at the last decimal place or something else, but similar.

    I do expect that support staff should get back to you. Sometimes messages do get missed on weekends.

    Hope that at least provides some direction on where the inaccuracies might be coming from.

  4. 4 Posted by dantdavis on 03 Aug, 2020 03:20 AM

    dantdavis's Avatar

    I do find it interesting (but not revelatory) that all the inaccuracies are either 0, .39, or .78 which is off, in a sense, by "0, 1, or 2" (with .39 being indicative)

    I have no idea what that means, but did find it interesting.

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