Account reconciles, but bank balance does not match moneydance balance
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Debian SID, Moneydance 2015.2.(1145)
I've been using Moneydance since my OS/2 days, way back when
I have an interesting problem, that's developed this year sometime. And I'm in need of. an answer.
Moneydance is reconciling the checking account with no problem. Even though everything is reconciling, the account balance is incorrect.
Moneydance is showing a balance of $500.00, while the bank was showing a balance of $0.00.
I am totally lost on what happended or how this happened. Any tips or helpful tips would be greatly appreciated.
Thank you
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1
sth
on 23 May, 2015 09:17 PM
It looks like you have an un-reconciled item. I assume your "cleared" balance matches the bank?
In this case just go to the top of the register and select "unconfirmed" or "uncleared" items and you should find the odd item(s).
2
Rodney Myers
on 23 May, 2015 10:37 PM
i have, before I posted the message, and just now looked.
"Uncleared" only shows what I expected, only entries from this month.
"Unconfirmed" shows nothing.
Clicking on "all" nothing is showing out of the ordinary.
I just scrolled through the whole catalog of entries, and nothing appears to be out of ordinary.
3
sth
on 24 May, 2015 02:39 PM
Maybe I am confused about the idea that the account reconciles. If you click on the account balance at the bottom it gives a "cleared balance" as well as current balance and ledger balance. I assume you mean by the account reconciling that the cleared balance matches your bank. But the ledger balance is off by $500?
Did the "opening value" get changed somehow?
4
rdmyers.42
on 24 May, 2015 10:22 PM
On Sun, 24 May 2015 14:39:34 +0000
sth <[email blocked]> wrote:
By my bank I was $500+ off. Moneydance said I had $590 in the bank,
while the bank said I had $0.00
5
rdmyers.42
on 24 May, 2015 10:23 PM
On Sun, 24 May 2015 14:39:34 +0000
sth <[email blocked]> wrote:
As for the "opening values:. No idea. I'm breaking out the PDF
statements and looking at them (re-reconciling the statements) to
double check
6
sth
on 25 May, 2015 04:51 PM
So the account is not really reconciled. I have had this happen occasionally when download transactions and having things duplicate. Sometimes typing the wrong date can really confuse things. Every time it has been an entry error.
If you have an older backup from the first of the year, without the error, open that and print the register to a PDF. Then just start scrolling though the pdf and your current file looking at the balance and date and seeing where they diverge.
7
Scott Meehan
on 25 May, 2015 07:13 PM
Hi Rdmyers.42,
You're using a slightly outdated version of Moneydance 2015, so I'd recommend upgrading to the latest version for bug fixes:
http://infinitekind.com/downloads
The "Beginning Statement Balance" on the reconcile window is a calculated value, which is
**Initial Balance of the Account + Cleared Deposits - Cleared Payments**
To change the Beginning Statement Balance, you'll need to adjust one of these variables. To change the Initial Balance of the account, open the account register and go to Account->Edit Account. You can enter mathematical equations in the Initial balance field in the credit card account to calculate the amount it should be. For example if your current credit card balance is 1476.62, and the balance shown in Moneydance is 27.65, then enter 1476.62-27.65 (use the minus sign) in the Initial Balance field and hit enter. Moneydance will automatically calculate the proper Initial Balance.
If you reconciled your account last month and this month you came to reconcile and the beginning statement balance this month does not match the ending statement balance from last month there are a limited number of possible causes.
* You modified the amount of a transaction that was already marked as cleared.
* You deleted a transaction that was already marked as cleared.
* You manually cleared a transaction in the intervening time.
* You deleted a category that contained cleared transactions. Deleting a category deletes all transaction that use that category.
* You deleted an account that had transfers to or from the account you are reconciling.
Deleting an account will delete all transfers that use that account.
* You changed the "Initial balance" on the account under Account->Edit Account...
* You manually marked a cleared transaction as uncleared.
* You had the option under File -> Preferences -> Network "Mark transactions as cleared when confirmed" checked and then performed a download and confirmed transactions, automatically clearing those transactions
If you have done any of these things it can be quite tricky to track down the cause of the change in cleared balance, although clicking the "Uncleared" filter may make it easier to see if you've accidentally uncleared an old transaction. The only way to fix such a problem is to go over the register and your old back statements and see if you can find anything that has changed. If the discrepancy is relatively small it might be simpler to enter a new transaction (Categorize it "reconcile discrepancy") and clear that transaction.
Some people find it helpful to enter a dummy transaction with a zero amount and enter a description stating what the cleared balance was on this date as a marker they can refer back to later.
Scott Meehan
Infinite Kind Support
8
Rodney Myers
on 25 May, 2015 11:45 PM
In looking at the beginning of this account, I have found a few errors in the first 2 years of rechecking the balances. Once I found them, I looked though the rest of Moneydance for those transactions. They all were off (loan payments, so I could not readily edit to make them correct).
Quick solution is to start with this month, and keep better track of everything I enter
Not sure my license will allow for an upgrade, but i'll attempt that as well
Marking as closed
Thank you
Rodney Myers closed this discussion on 25 May, 2015 11:45 PM.