Automatic transfer of funds to investments?

wa1oui's Avatar

wa1oui

19 Oct, 2020 03:15 PM

I have a mutual fund investment listed in Moneydance (V2020.1 on macOS 10.15.7) with direct connect. Purchases are made with funds from an account that is not in MD, and I just ignore the cash fields in the investment account. As a side note, I just rebuilt my Mac, erasing the entire drive and installing programs as new, to clean up years of crud. I mention this in case there were a setting I had made in the past that got lost.

A day or so I noticed that direct connect had downloaded a transaction for $100 that I made from the account that is not in MD. What did surprise me however is that MD virtually removed the funds from my default account and put them in the investment account to cover the purchase.

How can this be? Is there a setting that I couldn't find that made this happen?

Thanks.

  1. 1 Posted by Stuart Beesley ... on 19 Oct, 2020 04:07 PM

    Stuart Beesley - JUST A FELLOW USER's Avatar

    Presumably you can see a Xfr or BuyXfr transaction in your investment account that represents the $100? If so, is the transfer account used on this txn set to the ‘default’ account in question? I’m not answering why it downloaded the txn, but I can tell you that it will use the account/category you have set up as the default account for your investment account. If you don’t like this, and you really don’t want to track the cash properly , then create a ‘junk’ category and set this as your default category for the investment account; and then ignore this ‘junk’ account from all your reports...

    Regards Stuart
    [a fellow user, not support]
    

  2. 2 Posted by wa1oui on 19 Oct, 2020 04:16 PM

    wa1oui's Avatar

    No, actually it's a BUY transaction, and I've been doing this for months and this never happened before. The xfer transaction right after was generated by the system.

  3. 3 Posted by Stuart Beesley ... on 19 Oct, 2020 04:27 PM

    Stuart Beesley - JUST A FELLOW USER's Avatar

    There must have been a ’transfer’ into your online investment account and MD is trying to replicate this with the Xfer

  4. 4 Posted by wa1oui on 22 Oct, 2020 11:41 AM

    wa1oui's Avatar

    Bump... no there was no transfer... the last transaction was a BUY, and MD is trying to cover the amount apparently, which it can't do as the funds aren't in MD... and this never happened before on buys,

  5. 5 Posted by dwg on 22 Oct, 2020 08:30 PM

    dwg's Avatar

    If you perform buy transactions without any money coming into the account or an adjustment being made to the initial balance then you will get in increasing negative balance in the account. This will have the effect of throwing net worth reporting out for one thing.

    With Direct Connect Moneydance creates transactions based on the contents of the download, it will not create a transaction out of thin air so there must be something in the downloaded data to trigger the creation of the transaction.

  6. 6 Posted by wa1oui on 22 Oct, 2020 09:45 PM

    wa1oui's Avatar

    @dwg I"m quite familiar with the increasing negative balance, but as I don't use the net worth reporting out of Moneydance it's just an annoyance.

  7. System closed this discussion on 21 Jan, 2021 09:50 PM.

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