tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/87030-reducing-a-savings-account-balance-to-zero-and-marking-as-inactiveInfinite Kind: Discussion 2019-08-10T10:30:22Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/472530732019-05-10T14:25:51Z2019-05-10T14:25:51ZReducing a savings account balance to zero and marking as inactive<div><p>I'm just a user, but I'd say this is a simple two part process.</p>
<p>First, show the transaction which transferred the money away. I'm assuming you have no record of the new account(s) in Moneydance, so you won't show this as a transfer, simply an expense, but howyou categorise it will depend on how you have the accounts set up*. You may need to create a new category for the transaction(s) so they won't affect your income and expenditure.</p>
<p>Once the accounts are zero, you can then edit them by ticking the make inactive box. Optionally, add a z to the front of their account name to move them out of the way to the end of any list of accounts.</p>
<p>*If I had similar accounts in my copy of Moneydance, I'd have a matching liability account, so any credit to the children's accounts would increase the liability account, i.e the amount I owe them, as the children's accounts should never affect my net worth. If you've done something similar, then the transfer of funds from the childrens accounts should be recorded as a transfer transaction to the liability account, such that they all equal zero.</p>
<p>Hope this helps</p>
<p>RobS</p></div>RobStag:infinitekind.tenderapp.com,2009-01-14:Comment/472530732019-05-11T10:23:07Z2019-05-11T10:23:07ZReducing a savings account balance to zero and marking as inactive<div><p>Hi RobS,</p>
<p>Thank you for the advice. That works for me.</p></div>David Lombard