Inverting transaction balance

Danny Tsang's Avatar

Danny Tsang

03 Apr, 2016 11:20 AM

Hi,

I've noticed some credit card file exports (I mainly deal with qif and ofx formats) have the transaction as negative for spending and positive when settling the balance. On others its the opposite i.e a spend on the card is counted as a positive balance and settling the transaction is negative.

Is there a way I can convert a file or during import so that it inverses the transaction so that all my accounts use the same method.

Also what do you think is the correct way of showing the balance in money dance?

  1. 1 Posted by Ben Spencer on 04 Apr, 2016 02:02 PM

    Ben Spencer's Avatar

    I am afraid there is no way of inverting the sign on these transactions during the import process.

    Have you looked in the OFX file and determined that the data in the file is actually different. In an OFX file expenses on a credit card should have a negative sign before the amount. Where as payments made to the credit card should be positive (no sign on the amount.) This is according to the OFX specification.

    One somewhat common confusion with credit card accounts in Moneydance is if a user enters a transaction that over pays the credit card. e.g. if you enter a payment to the card that is created that is balance. This gives the account a positive balance and makes it look like expenses go in the wrong direction. If you have looked at the OFX files in a text editor and the signs on the amounts are correct you might have over paid the card.

    Ben Spencer
    Infinite Kind Support

  2. 2 Posted by Danny Tsang on 04 Apr, 2016 05:05 PM

    Danny Tsang's Avatar

    Hi Ben,

    It's not a problem with MoneyDance but more with the way some banks exports
    their data. For example on a credit card I'd expect the transactions to be
    a negative value. When you pay off a credit card statement it would be a
    positive value to settle the statement.

    On some files from certain institutions the purchases are positive value
    and your payment is a negative so is there a way to convert the positive to
    a negative and vise-versa?

    Cheers,

    - Danny

  3. 3 Posted by Ben Spencer on 04 Apr, 2016 05:17 PM

    Ben Spencer's Avatar

    Just to be clear, please confirm that you have opened the OFX file in a text editor and are certain the values are reversed in the OFX file?

    Ben Spencer
    Infinite Kind Support

  4. 4 Posted by Danny Tsang on 04 Apr, 2016 05:22 PM

    Danny Tsang's Avatar

    I've got examples in .qif files. I will check the ofx and get back to you.

  5. 5 Posted by Danny Tsang on 04 Apr, 2016 08:54 PM

    Danny Tsang's Avatar

    Hi Ben,

    I can only see .qif with the example.

    Regards,

    - Danny

  6. 6 Posted by Danny Tsang on 05 Apr, 2016 06:45 AM

    Danny Tsang's Avatar

    I just checked and all the files I have of this example are .qif

    On Monday, 4 April 2016, Danny Tsang <[email blocked]> wrote:

  7. 7 Posted by Ben Spencer on 05 Apr, 2016 11:55 AM

    Ben Spencer's Avatar

    I am afraid there is no solution to this problem. I have seen a few QIF files that get this wrong. I think the only solution is to contact the bank and tell them of their error.

    Ben Spencer
    Infinite Kind Support

  8. System closed this discussion on 05 Jul, 2016 12:00 PM.

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