Fixing reconciliation h*ll

Andrew's Avatar

Andrew

17 Dec, 2021 01:30 AM

Moneydance
v. 2022.2 (4060)

iMac (Retina 5K,27-inch, 2017)
Big Sur, Version 11.6.1

Subject: Reconciling

I’ve been a user of Moneydance for many years, balancing my credit card and checking accounts virtually every month and resorting to placeholders for those few times that I haven’t been able to find my error.

But due to some pretty difficult personal times this year I made a few big mistakes and didn’t have the time to spend fix this mess. And now I’m months behind and ready to go back to paper and pencil! I tried fixing a couple months, then more, then I went as far as stripping off all of the reconciling for the entire calendar year of 2021 (short the last month) — and I did find some errors this way — but I haven’t been able to patch it all back together again. And Citibank confuses me with their terms, so I don’t always know which numbers go in the box for “new balance” and others.

I have read much of the documentation online for MD and some of it is just as obscure as the Citibank online banking. I’m hoping one or more of you could help me get functional again with MD.

Thank you.

Andrew

————

Before going ahead I need to point out few things:
* My “month” in Citibank goes from approximately the 24th of the month to 22nd, though it changes each month.
* I don’t download my transactions — I enter them by hand (is it worth learning how to use and vs. the time to set it up and clean up the entries?)
* I have kept all of the data except the reconciling. And even with that I don’t know where my mistakes are (I’m guessing one account is a few months gone bad and the other 7 or 8 months broken). I’m ready fix a year and just use that from then on, or patch it all together — whatever you recommend
* I just can’t grasp the arguments made on how to set up the initial starting balance — whether it’s important to understand how MD sets it up or just letting it do it on its own. Some of the same numbers come back from time to time, so I think I’m getting somewhere, but most of the time I can’t even reconcile one month. My brain doesn’t seem as sharp as it once was, so I would appreciate your patience as I work through this.

———

One problem, as mentioned, is understanding which number to answer until “New balance.” That sounds easy on the face of it, but this is what Citibank shows me:

ACCOUNT SUMMARY
Prev. balance. $2,482.12
Payments -$2,472.51
Credits -$9.61
Purchases +2,083.22
Cash advances +$0.00
Fees +$29.00
Interest +$35.83
————————————— —
New balance $2,148.03

Thanks for your help.

  1. System closed this discussion on 18 Mar, 2022 01:30 AM.

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