How can I make it so that and "XFR"s between accounts show the positive amount coming into the destination account
Good afternoon all.
I hope my question makes sense!
I make heavy use of the income and expenses report in Moneydance as I categorise pretty much every transaction. This is becoming more important as I'll be taking early retirement in September and so my income will not be coming from a salary.
Instead, I'll be transferring money either from my SIPP drawdown or other investment accounts. However, if for example, I want to trnasfer some money out of one of my investment accounts into my bank account using "XFR", there's no way I can categorise the transaction on the bank account side of things so I can't get the transaction to appear in my income and expenses account.
What I'm having to do is use "MiscExp" on my investment side and then an incoming transaction on the bank side. I can then categorise both (an expense category on my investment side and income category on my bank side).
Is there an easier way to move money between accounts and still use categories (as the category cell is greyed out.
Many thanks in advance
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1 Posted by dwg on 31 Jul, 2025 01:41 PM
When you move money between accounts like this it is just moving money between different assets. The Investment account is an asset as is the bank account, hence the value of one asset goes down and the other goes up by the same amount, it has nothing to do with any Income and expense items.
This is all fundamental to the accounting model.
If you want to combine an asset movement with income and expense recording it is necessary to use 2 transactions rather than 1 as you have been doing. It is possible to do this within a split transaction if desired.
2 Posted by dwg on 31 Jul, 2025 02:07 PM
I understand if you are doing budgeting you want to look at this amount as "income" in order to budget against, so in reality have Moneydance support cash flow budgeting and this requirement has been discussed with the developer, the provision of this type of budgeting would be above the transaction recording, so in effect it would be the ability to add fund transfers to the budget system, so it includes movements between asset and asset or liability accounts.
We will have to see if it comes to fruition.
3 Posted by gaa on 31 Jul, 2025 02:12 PM
Thank for your detailed responses. I'll continue to record two transactions so that I can report the income part of the transaction and exclude the outgoing part of the transaction from the investment account.
System closed this discussion on 30 Oct, 2025 02:20 PM.