tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/157-how-can-i-reconcile-my-account-errorsInfinite Kind: Discussion 2011-09-20T11:21:10Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/1544042009-05-07T16:50:01Z2009-05-07T16:50:01Zhow can I reconcile my account errors?<div><p>It sounds like the reconciling got one month ahead of itself.
For example (using random dates for purposes of example), you may
have had both the June and July recurring payments appearing in the
register before you reconciled, and either you or Moneydance
erroneously matched up the June charge on your bill to the July
payment in the Moneydance register. Thus, everything would have
reconciled but the June payment got skipped and stayed skipped, if
you kept reconciling to a transaction one month ahead. Check to see
if the most recent reconciled monthly payment is indeed for the
correct month, or if it is for one month later than it should
be.</p></div>John Seldentag:infinitekind.tenderapp.com,2009-01-14:Comment/1544042009-05-07T17:15:55Z2009-05-07T17:15:56Zhow can I reconcile my account errors?<div><p>For those things that I cannot find what the error is, I end up
making it report correctly by entering an Adjustment entry to get
the balance back to what it is supposed to be. I put an explanation
for what the fake adjustment is for so that later, if I do find the
error, I can also find that adjustment amount and erase it too. I
have a misc. category for things that are a mystery.</p>
<p>Others might have some more ideas.</p></div>Marytag:infinitekind.tenderapp.com,2009-01-14:Comment/1544042009-05-08T03:44:41Z2009-05-08T03:44:41Zhow can I reconcile my account errors?<div><p>The only way you'll really know is by reconciling it against a
bank statement or a statement from whoever is paid that monthly
payment. When you reconcile Moneydance against your bank, the idea
of performing a bank reconciliation is to match each transaction,
not simply the balance.</p>
<p>If it's a monthly payment for the same amount or relatively the
same amount paid on approximately the same date each month, then it
really shouldn't be hard to find. You can filter transaction
amounts in Moneydance through the search box and scan your bank
statements. Keep the transactions ordered by date and look for a
skipped month?</p>
<p>As for the $150, keep in mind when you book transactions against
Account (not to be confused with income/expense Categories),
Moneydance will enter both sides of the transaction. Meaning if I
book a payment in my checking account against my savings account,
Moneydance will automatically book the deposit in my savings
account. If I downloaded the savings account transaction from my
bank, then I would now have a duplicate entry in my savings
account. One I downloaded from my bank and another Moneydance
created when I entered a transaction in my checking account, using
the savings account as the Category.</p>
<p>With all of that said, as an accountant by profession, there is
no easy way to bypass checking each transaction. Generally, I
always start by looking for dates where the balance in Moneydance
deviates from the bank statement. My thought process is, do the
balances match on the 15th of the month? No? What about the 1st of
the month? Yes? What about the 10th? Just keep narrowing it down
and you'll find it.</p></div>Hans N.tag:infinitekind.tenderapp.com,2009-01-14:Comment/1544042009-05-08T12:37:53Z2009-05-08T12:37:58Zhow can I reconcile my account errors?<div><p>Thanks everyone for the advice. Yes, I looked back to see if I
had skipped or misdated a monthly payment. I just couldn't find
anything. And this month's statement the bank sent me just didn't
help. Then I went online and looked at my account. And I thought:
hey, I can see everything that's come in, and test it against every
check and debit that's not come in yet, and my MD balance ought to
match the balance online! So I went through 2 months worth of
transactions one by one, finding a couple of missed transactions
along the way, and when all was said and done it was about $40
different. You're right Hans, going through one by one was the only
way to get it right. What happened to the $350 recurring
transaction? Well, I archived my MD file to only have this year's
transactions, and checked the option to NOT keep unreconciled old
transactions. Maybe that's the wrong way to do it, but I seems to
have eliminated that old payment, or at least put it out of sight.
I still never figured that out. Thanks for the help!</p></div>aldensingstag:infinitekind.tenderapp.com,2009-01-14:Comment/1544042009-05-08T13:51:42Z2009-05-08T13:51:47Zhow can I reconcile my account errors?<div><p>Sometimes it is just impossible to find the mistake. You end
having to ask yourself if all the time to search for it is worth it
or should you just fake it to get it to match up and start fresh.
I've had this happen and then months later, I'll accidentally find
the error and erase both the fake adjustment and whatever caused
the error. We are imperfect.</p></div>Marytag:infinitekind.tenderapp.com,2009-01-14:Comment/1544042009-05-11T19:57:10Z2009-05-11T19:57:10Zhow can I reconcile my account errors?<div><p>I really appreciate all of you for contributing your thoughts to
help out fellow users. Not simply because it helps lighten the load
for us support staff. Rather it is more to do with my feeling
positive about the mutual aid community that has developed around
this piece of software. Thank you!</p></div>Ben Spencer