Year end processing

Allen Joseph's Avatar

Allen Joseph

25 Jun, 2020 06:23 PM

I'm thinking about switching to MoneyDance and have set up a trial test. Is there a way to save a database then start a new one with new beginning account or catagory balances to keep the database small? With Quicken they had a year end process to handle this.

  1. Support Staff 1 Posted by Ethan on 25 Jun, 2020 06:30 PM

    Ethan's Avatar

    Hello,

    In general, we don't recommend that people start new data files for new years. This was an issue for computers 20 years ago, but the file size of a database containing decades of data is usually fairly insignificant compared to the size of modern hard drives, if that's your main concern.

    You can do this if you want, but will need to do it manually. I think the easiest way to do this would be to create a copy of your data file, and note your current balances. Then go into each account register, and delete all of your transactions. You can then enter in the initial balances for each account in the Account -> Edit Account menu.

    Note however that this method will not work for investment accounts. You will need your initial purchases and price history to remain in the database, otherwise there is no way to calculate your cost basis.

    Again though, this generally shouldn't be needed. You can usually just filter out older transactions from the active view by using a combination of the filters at the top of the registers and setting a date range for reports.

    Ethan
    Infinite Kind Support

  2. 2 Posted by dwg on 25 Jun, 2020 11:39 PM

    dwg's Avatar

    I'm fellow user.

    I would also recommend Ethan's response of using filters and date limited reports to see the desired data.

    Deleting transaction will NOT reduce the size of your data, actually it will increase it because of the way Moneydance writes data.

  3. 3 Posted by dantdavis on 26 Jun, 2020 12:05 AM

    dantdavis's Avatar

    I have 35 years of data in my MD account. It "seems" large at 300mb, but that's not that big anymore. I use filters/dates to see the reports.

    It sort of feels good to have all 35 years there, but I can look at only recent stuff as well.

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