Why is every bank transaction tagged as ATM withdrawl?
Just trying everything out and did my first online import from my bank via plaid - every transaction, debit or deposit, is tagged as ATM withdrawal.
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1 Posted by mhoggie on Dec 06, 2024 @ 05:35 PM
just a user,
I suspect you haven't used MD long enough for the program to learn the category's you would use for certain expenses. So the default category in your account setup is being used. You can change that default by clicking on the account, then account, edit account, and then set the default category as you want. I created a category just called "expense" and set it as my default categories on all accounts. But as MD learns which categories you assign for certain transaction types, it will show that category instead.
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Support Staff 2 Posted by Maddy on Dec 06, 2024 @ 05:41 PM
Hi Will,
Thank you for contacting Moneydance support.
After downloading/importing your data, you should go through the confirmation process, as outlined here.
To begin the confirmation process, you should select the first transaction in the register with a 'blue dot'. A panel will appear on the right of your screen which shows the 'Current Transaction' details. You should amend the category within this panel, then select 'Confirm'.
You'll see the solid blue dot change to a blue circle. Moneydance will then move to the next unconfirmed transaction in the register.
As you go through this process it will become quicker and easier. Moneydance will begin to recognize the information you have previously confirmed, and start to suggest the correct categories within 'Similar Payees' in the panel on the right.
The next time you download from the bank many of the correct categories will automatically be assigned, and this will improve as you confirm more transactions.
I hope this information is helpful. Please let us know if you have further questions or need more assistance.
--
Maddy, Infinite Kind Support
3 Posted by willphule on Dec 06, 2024 @ 08:04 PM
Thanks. Yes, this is brand new setup for me - I am new to Moneydance. Finally sick of using the big Q.
System closed this discussion on Mar 07, 2025 @ 08:10 PM.