I'm not a Mac user, but over the years I have only seen backups not created if the location goes away or if the destination is full, alas I believe Moneydance fails silently in both cases i.e. just closes.
I would suggest looking at the errlog.txt file to see if there are any clues there.
I can confirm that the backup location is definitely there and configured properly. Also, I did check the “errlog.txt” but alas nothing about the auto-backup process is contained within. It does show the manual backup I did a couple days ago but nothing else concerning backups at all…
I had this issue once.
To fix try this. Change the backup location, close Moneydance then reopen Moneydance and change the backup location back to your preferred location. Close Moneydance and check if a backup is now created.
I tested using different locations and the behavior doesn't change. The backup file is never generated automatically. The only time a backup file generated without being prompted to do so is when the app is closed.
The auto backups are only generated when a data set is closed, this only happens when the application is closed or when you switch to a different data set. Moneydance does not have a scheduled backup function.
Understood - MD really should change the wording in the preferences. The phrase "Save backup daily" really doesn't apply and leads to misunderstanding how the system works. At the very least, there should be a sticky thread or similar describing exactly how the settings work.
It is something that I think would be best handled in documentation.
I've seen people question why multiple backups are not created each day when people have multiple sessions during the day. Explaining the exact meaning on the preference screen and how it works would I think be just too much text.
I expect the designer was thinking of PC usage with the software being used once a day or left running during the day and shutdown when not in use, pretty much classic style usage.