Similar Payees list
I am using Moneydance version 2024.3
It looks like this has been discussed in the past but I'm not seeing a resolution.
I use the similar payee function when entering my paycheck into Moneydance. My paycheck has approx. 24 splits and this function makes entering the data very quick because many of the splits are the same from paycheck to paycheck. However sometimes the splits do change, either in dollar value or in number of splits and the "similar payee" need to be updated.
How do I create a new "similar payee" template when splits change? Many of the similar payees on the list are outdated and I see no way to delete the old ones or force a new one to be created. I have tried to create a completely new entry for my paycheck deposit with a new description and recreating all the necessary splits, but I can not get it to show up on the similar payees for future entries. What am I missing. This is a basic function that the application should be able to accommodate. Please address this. Thanks.
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1 Posted by mhoggie on 16 Feb, 2025 09:40 PM
just a user,
Your best bet is to create a reminder with all the split details needed. Then don't auto commit the reminder, but manually choose it as it comes up and check all your splits for any changes needed. Then record the transaction. That works best for me because most of the time my paycheck use the same splits and amounts. But those that change can be tweeked from the reminder setup before recording
2 Posted by lorax_misc on 16 Mar, 2025 06:13 PM
mhoggie...Thank you for answering this but I'm still not completely clear. I created a "reminder" with all the splits as I want them...but how do I pick reminder that when I am going through the unconfirmed transactions that were downloaded from my bank? In other words when I download transactions from the bank, the line item in the unconfirmed register says "deposit xxx company payroll" At that point I want to apply the reminder to that entry so that the splits would apply. That works for the similar payee list on the right side of the window but I'm not seeing how to apply the reminder to that entry...thanks again
3 Posted by lorax_misc on 16 Mar, 2025 07:13 PM
Okay maybe I figured it out...It looks like I have to create the entry in the ledger first and when I do so, I can choose the reminder transaction and make sure all the splits are correct...then when I download the transactions from the bank and I go to that transaction in the unconfirmed list, there is now an option on the right side of the screen to merge that transaction with the one I created with the splits correct. I select that transaction to merge and it is now applied.
That seems like round-about way of doing things. Let me know if there's an easier way to accomplish that. Seems like there should be a way to apply a split template to any transaction from the unconfirmed window.
Is it just me or does anyone else find Moneydance to be counter-intuitive?
4 Posted by mhoggie on 16 Mar, 2025 07:32 PM
just a user,
Here is how it worked for me before I retired. I may not be understanding your issue completely.
I created a reminder that shows the anticipated total pay with all the deductions as splits. I.E. Taxes, Medicare, 401K contributions, United Way, Medical plan payment, etc. I got paid twice a month, so I created a reminder for 1st and the 15th because some of the deductions only occur once a month and are different each paycheck. I didn't set the reminder to auto commit, so as the reminders came up on my pay day I would click the reminder, modify any amounts and splits as needed and then record the transaction. My checking would then show the one transaction with the total amount minus all the deductions. When I subsequently downloaded the transactions from my bank, MD would see that identical pay amount and allow me to merge it with the transaction I entered from my reminder. All was good. All I had to do is tweek the amounts and sometimes the splits when the reminder came up. But my job was salaried so the most pay checks were exactly the same except for the single monthly deductions that only appeared on one check a month. It work fine for me. I think I had at the most 19 or 20 splits per pay check.