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Reconciling Credit Card Account

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Jan's Avatar

Jan

28 May, 2019 10:10 PM

I am switching from Quicken and am almost through trying out MoneyDance. Just about ready to purchase.
I successfully imported a Credit Card QFX file from my computer and confirmed my data. How can I now reconcile the account with my statement?
Thank you.

  1. 1 TonyRI's Avatar TonyRI on 28 May, 2019 10:36 PM

    Hi Jan,

    Here is the KB article:

    https://infinitekind.tenderapp.com/kb/register-and-transactions/rec...

    You may have to modify your initial balance on the account the first go around:

    https://infinitekind.tenderapp.com/kb/accounts-and-categories/initi...

    Regards,

    Tony (NOT from Moneydance Support)

  2. 2 TonyRI's Avatar TonyRI on 28 May, 2019 10:43 PM

  3. 3 Jan Derdiger's Avatar Jan Derdiger on 28 May, 2019 11:05 PM

    Thank you Tony. This is the 1st time that I will be reconciling the credit
    card account after migrating from Quicken. Will MoneyDance pick up the
    previous balance?
    Jan

  4. 4 dwg's Avatar dwg on 28 May, 2019 11:19 PM

    I'm a fellow user.

    I believe what you are referring to as the previous balance is what Moneydance refers to as the beginning statement balance. Moneydance calculates this each time using the formula

    Initial Balance of the Account + Cleared Deposits - Cleared Payments

    This should be the ending balance from the last statement, if it is not it generally means that something has been changed that should not have been changed and is something that should be investigated and fixed. If Moneydance used a saved number then it is quite possible that errors could be overlooked.

  5. System closed this discussion on 27 Aug, 2019 11:20 PM.

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