American Funds and Moneydance

Phil's Avatar


13 Aug, 2016 01:51 AM

Testing out Moneydance to see if it will replaced my gimped Quicken...

So I'm trying the account downloads. I figured out I need to do the separate funds by reading the faq, but I've run into a bit of an accounting issue.

American funds downloaded and input into MD ONLY input the equity purchase. That worked well, as it is tracking the exact amounts for cost basis per security.
The issue I have is that since no deposits exist against the transactions, the account value itself is all messed up (the total fund value based on the number of shares however is correct, so that's good).

Do I then need (at least for American Funds) enter into the register a deposit amount for every fund purchase?

  1. 1 Posted by -Kevin N. on 14 Aug, 2016 11:24 PM

    -Kevin N.'s Avatar

    Hi Phil,

    If I understand you correctly, you may want to enter an 'Initial Balance' to cover the cost of your existing fund purchases.

    To do so, open Moneydance to the investment account of the fund in question.
    From the menu bar, go to Account > Edit Account.
    In the resulting form, you can enter / edit the 'Initial Balance'.

    Going forward, you would want to more accurately reflect the 'real world' funding of the account, likely through a payroll deduction or a transfer from savings / checking.

    HTH -Kevin .

  2. System closed this discussion on 13 Nov, 2016 11:30 PM.

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