second request; MD is downloading duplicate transactions
This seems to be a new issue. Downloading from Bank of America ( I pay monthly for the BofA downloading) I'm getting duplicate transaction which completely ruins my daily balance. Still trying to learn this program after using Quicken for many years.
What is best way for me to simplify online downloading and categorize my transactions and more importantly how to STOP the duplicate transaction downloads.
Thanks for your help.
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1 Posted by dwg on 29 Mar, 2024 03:33 AM
I'm a fellow user.
How Moneydance works to try to avoid duplicates is that the source provides transaction IDs as part of the transaction, Moneydance stores these with the transaction and can then use these to identify duplicate downloads.
A fairly straightforward approach, there are some places it can go wrong.
1. If the source where to change the Transaction IDs (it does happen) that breaks the system and it cannot be fixed you will get duplicates and have to use the confirm and merge process to deal with it.
2. You manually enter some transactions, so the download will result in a duplicate, you cannot avoid this the first time because there is no ID to use in the manual transaction. The confirm and merge process is used to prevent it occurring again, it merges the two transactions together so that the entry in the register then has the ID. Some people have deleted the downloaded transaction and then find the transaction downloads again, it will because the ID is still missing, hence the use of confirm and merge is necessary.
The confirmation process is where you assign a category to the transaction. After you have been doing this the process will begin to suggest the category for new transactions, which you can accept if correct.
The software will not try to automatically categorize transactions, this would be unlikely to be error free, there will never be enough data to be able to do this with absolutely reliability.
These processes are documented at:
https://infinitekind.tenderapp.com/kb/online-banking-and-bill-pay/confirm-downloaded-data
https://infinitekind.tenderapp.com/kb/online-banking-and-bill-pay/merging-downloaded-transactions
For information, you can access all of the Moneydance documentation at:
https://infinitekind.tenderapp.com/kb
System closed this discussion on 28 Jun, 2024 03:40 AM.