Moneydance and bank statement balances are +way+ off from each other
I recently purchased Moneydance and tied it to one of my checking account. The information seemed to come across fairly well and quickly however the balance that Moneydance shows and what the bank account itself show are different - by nearly $2K and when I look back in time, i.e., earlier dates all of the data is different from the bank statements. Any idea as to what is going on or how to resolve this?
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1 Posted by -Kevin N. on Oct 25, 2010 @ 01:42 PM
Hi glhufford,
Most financial institutions will only make available a few months worth of data for download.
You may need to set your intitial balance so that it reflects what it should for that time frame.
To do so, access the register of the account in question, then from the Menu bar, click 'Account' then 'Edit Account...' In the resulting form you can set the initial balance.
Also, you can click on the 'Balance' figure in the lower right hand corner of your register to get more detailed information.
HTH -Kevin N.
2 Posted by Ben Spencer on Oct 25, 2010 @ 01:47 PM
If Kevins advice does not resolve the issue can you tell me if there is any pattern to the transactions that do not seem correct?
Ben Spencer
Moneydance Support
3 Posted by glhufford on Oct 25, 2010 @ 05:44 PM
Can I set Moneydance to start at a specific date? For example, rather than
downloading whatever the bank permits (Regions), can I set Moneydance to
begin on October 1, 2010 with what I know to be the balance as of that
date? I really don't care about 2010 but am setting this up to track
starting in 2011 and am using 2010 as "learning opportunity." I'd want to
do the same for credit card and other loan balances and for savings...
Thanks
On Oct 25, 2010 9:44am, kmnugent
<[email blocked]> wrote:
> // Add your reply above here
4 Posted by -Kevin N. on Oct 25, 2010 @ 06:55 PM
Hi glhufford,
As far as direct connect goes, you can't set the date but the OFX file format that most banks use (including Regions) contain a unique identifier so that once it's downloaded into Moneydance it won't get downloaded again.
However, Regions bank along with direct connect offers web downloads which DO allow for a date time frame.
HTH -Kevin N.
5 Posted by jim on Oct 26, 2010 @ 04:42 PM
I have downloaded one years of transactions and now I can only get 3 months to show up. The balance is completely wrong. I have no way of contacting support other than here. If this is not fixed in 24 hours I will request a refund.
6 Posted by -Kevin N. on Oct 26, 2010 @ 05:57 PM
Hi jim,
Make sure the 'All' tab is selected in the register view.
HTH -Kevin N.
7 Posted by Angie Rauscher on Oct 26, 2010 @ 07:17 PM
Jim,
Kevin is correct that the filter may be the issue. Please make sure you have selected the "All" button at the top of your register. If this does not help, would you please let me know the OS you using and the versions of Java and Moneydance you are running? This will assist us in diagnosing the issue. Please let me know how I can be of further assistance,
Angie Rauscher
Moneydance Support
Check out our new blog series, Moneydance on the Road.
8 Posted by jim on Oct 26, 2010 @ 07:54 PM
tried all of that, nothing works. I have asked for a refund. I can't trust the program to give me accurate balances...
Regards,
Jim Murray
[email blocked]
910-638-5774
9 Posted by Angie Rauscher on Oct 26, 2010 @ 07:59 PM
Jim,
I've responded to your request on the thread you posted earlier this evening.
Angie Rauscher
Moneydance Support
Angie Rauscher closed this discussion on Oct 26, 2010 @ 07:59 PM.
jim re-opened this discussion on Oct 26, 2010 @ 08:13 PM
10 Posted by jim on Oct 26, 2010 @ 08:13 PM
I am using Mac 10.6.4 Java and Moneydance were the latest versions as of yesterday.
I tried the all button and the year button. No help, my other account kept the entire year intact so far.
I think your program has a lot of potential to be a player but there has to be better support. Some 'how to videos' maybe a quicker response, I can't shut my business down hoping to resolve an issue in 24-48 hours!! I would not even purchased it had it not been for an accountant with computer skills to help me. I have used Quicken for 15 years with no trouble but this one has me stumped. I don't know what caused it and I can't fix it, nor do I have the time to fix it. And I would always worry that it will do it to me again.
Regards,
Jim Murray
[email blocked]
910-638-5774
11 Posted by Ben Spencer on Oct 27, 2010 @ 01:33 PM
I am sorry that you have decided to leave Moneydance. I understand your reasons for doing so and I respect them. I feel confident that with more information we would have determined what was happening and I understand your desire to get this resolved more quickly.
Sincerely
Ben Spencer
Moneydance Support
Ben Spencer closed this discussion on Oct 27, 2010 @ 01:33 PM.
glhufford re-opened this discussion on Oct 27, 2010 @ 01:36 PM
12 Posted by glhufford on Oct 27, 2010 @ 01:36 PM
Unfortunately I'm finding MoneyDance significantly more difficult to use
than I had anticipated. From the reviews I had read I thought this would be
a slam-dunk but having to jump through all the hoops necessary to get it to
(perhaps) work as I need/want is simply not worth the investment in my
time. So far, in spite of the assistance of the Moneydance folks I have
been unable to load a subsection of the Regions accounts. Because of this I
continue to get balances that are wildly different from what I know to be
true. Please ask BMT Micro to issue a refund.
Thanks.
On Oct 26, 2010 4:15pm, jim
<[email blocked]> wrote:
> // Add your reply above here
13 Posted by Tom Freeman on Oct 27, 2010 @ 01:49 PM
I am sorry that Moneydance hasn't worked out for you. I have sent you a refund.
Tom
14 Posted by Ben Spencer on Oct 27, 2010 @ 02:01 PM
I have also created a suggestion ticket in our issue tracking to allow users to enter a start date for direct connect downloads.
Ben
15 Posted by glhufford on Oct 27, 2010 @ 02:38 PM
Thanks Ben/Tom - I'll keep checking back to see how the product evolves.
I've used Quicken in the past but don't appreciate how they stop supporting
their products fairly quickly as each new version comes out so their
product is not one I'm particularly interested in.
On Oct 27, 2010 10:03am, Ben Spencer
<[email blocked]> wrote:
> // Add your reply above here
16 Posted by jim on Oct 27, 2010 @ 03:52 PM
Thank you, I hope that you can continue to improve the program, Quicken is getting away from it's customer base with the high handed renewals.
I just can't take the time to solve the issues to get it running for my business now.
Regards,
Jim Murray
[email blocked]
910-638-5774
17 Posted by jim on Oct 27, 2010 @ 04:10 PM
I did all of that, had a one year start date, I had two accounts, both transferred with no problems
All was well until I was working on categories for the entries. Looked back and the main account would only show 90 days. I tried everything to bring it up including downloading. The ending balance was over $1,500 off as well. I have no idea how it did that and after several hours of trying I had to give up. I lost my trust that the program would give me an accurate balance every time. I can't afford that and stay in business.
Regards,
Jim Murray
[email blocked]
910-638-5774
System closed this discussion on Mar 31, 2015 @ 03:31 PM.