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Home Equity Line of Credit with USAA Federal Savings Bank

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Susannah

24 Jun, 2010 07:10 PM

Hi, I'm setting up Moneydance for my parents and they have a home equity line of credit with USAA Federal Savings Bank. I gathered from other discussions that a HELOC should be set up as a credit card account in Moneydance. However, USAA seems to treat it as a checking account for the purposes of online banking because it does not show up as an option when I set it up as a credit account, but if I set it up as a checking account, I see it as an option and I can download the transactions. The problem is that when I download the transactions as a checking account, the interest is downloaded as a payment and is being subtracted from the principal when it shouldn't be. I'm not sure this is clear, but I'm wondering if there is another solution to syncing the HELOC as a checking account with USAA?

1. 1 Posted by Angie Rauscher on 05 Jul, 2010 06:03 PM

   

   Susannah,

   This issue will be fixed in our next beta build (which I believe is slated for release in mid-July). This will make Moneydance more flexible around importing, and will resolve the issue you are having with this account. Until then I would probably suggest tracking this as a credit card and entering your transactions manually. I'm sorry I don't have a more elegant short-term solution.

   Please let me know if I can be of further assistance,

   Angie Rauscher
   Moneydance Support

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2. Angie Rauscher closed this discussion on 05 Jul, 2010 06:03 PM.