Unconfirmed downloaded transactions show wrong description!
I usually only match up transactions once a month. Prior to that, I assumed that downloaded transactions would show the description that was downloaded. Imagine my confusion on finding that Moneydance tries to guess what transaction to match, and then shows that transaction. This is especially bad for any paper checks that I (or my wife) wrote. Sometimes, I forget to enter those in until the end of the month, or I am waiting for my wife's checkbook to enter in those checks. I have repeatedly been very confused when Moneydance shows an apparently random Payee for those unconfirmed check transactions, rather than simply showing CHECK #3762 as downloaded from the bank.
How MD chooses to match transactions during the confirmation process is a completely separate issue. Distinct from that is the fact that it should always show the downloaded description before the transaction is confirmed.
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1 Posted by Ben Spencer on 04 Jan, 2011 04:12 PM
Do you have the option File->Preferences->Network "Automatically Merge Downloaded Transactions" enabled? If you do unckeck this option and the unconfirmed transactions will not be modified.
Sincerely
Ben Spencer
Moneydance Support
2 Posted by bill on 30 Mar, 2011 02:36 AM
I also had this issue. So took Ben's suggestion. It leads to the question then, How and when can we use "Automatically Merge downloaded Transactions"?
Thanks in advance
3 Posted by Ben Spencer on 09 Apr, 2011 06:11 PM
Using the "Automatically Merge downloaded Transactions" option carries some risk. There is the possibility of a false positive occurring. The option performs two functions.
1) It will merge transactions that are obviously duplicates. (Exact amounts, very close dates and a very high match on the description.)
2) It will try to identify repeat payees. Which is to say transactions that are to the same payee. The payee name is in the description/payee field. If the software finds a transaction with a very similar payee name it will change the new transactions payee name to match the existing one and adjust the category to match the old one. If you have a Bank that is putting the word "CHECK" in the payee name this feature is going to return false positives on these transactions. In such situations I do not recommend turning on this option.
Ben Spencer
Moneydance Support
4 Posted by Brian Hawthorne on 20 Jun, 2011 05:37 PM
I really wish these were two separate settings. I always want Moneydance to merge transactions that are obviously duplicates so that my downloaded transactions will get merged with what I entered for debit transactions and the like. I never want Moneydance to try to identify repeat payees, especially for checks (which show "Check #nnnn") and for business with the same first part of the name (e.g., Williamsburg Market, Williamsburg General Store, Williamsburg Pharmacy all get truncated and confused).
I was hopeful that Moneydance 2011 would fix this, but now that I have updated, I see that there is still just one preference item. Any chance of getting a fix so that there are two separate options:
Automatically merge identical downloaded transactions
Automatically guess repeat payees for downloaded transactions
5 Posted by Ben Spencer on 20 Jun, 2011 06:44 PM
There is a suggestion ticket in our issue tracking proposing dividing the two processes into two options. However the developers are currently considering removing the option completely due to the significant problems that are caused if a false positive match occurs.
Sincerely
Ben Spencer
Moneydance Support
6 Posted by Jerry on 30 Jun, 2011 10:13 AM
I've been using MD about 1 year without a single problem. I've just started having the "wrong description" problem twice in 2 weeks.
Merge is now unchecked.
7 Posted by Ben Spencer on 30 Jun, 2011 11:08 AM
Hi Jerry
Can you tell me what version of Moneydance you are running. To see the version number run Moneydance and select Help->Console Window. If you are not running build 790 or late please download it from here:
http://moneydance.com/other
Ben Spencer
Moneydance Support
8 Posted by jerskip on 30 Jun, 2011 11:55 AM
Hi Ben,
I HAD '10. When I saw I was eligible for upgrade to '11, I downloaded and installed it.
I'll give it a test drive with the option checked if you like.
Some extra background:
So far, 2 transaction descriptions were entered incorrectly.
I download transactions daily.
This problem just began this week.
Until now, it's been flawless.
The only new thing I've done, just prior to this event, I manually entered a check.
I really like Moneydance.
Regards,
--
Jerry
9 Posted by jerskip on 30 Jun, 2011 12:01 PM
Hi Ben,
I HAD '10. When I saw I was eligible for upgrade to '11, I downloaded and installed it.
I'll give it a test drive with the option checked if you like.
Some extra background:
So far, 2 transaction descriptions were entered incorrectly.
I download transactions daily.
This problem just began this week.
Until now, it's been flawless.
The only new thing I've done, just prior to this event, I manually entered a check.
I really like Moneydance.
Regards,
--
Jerry
10 Posted by Ben Spencer on 30 Jun, 2011 04:45 PM
Hi Jerry
Let me know how it goes with MD2011. It shouldn't be changing any descriptions for you automatically unless you confirm a transaction as a repeat payee.
Ben Spencer
11 Posted by Jerry/Skip Schn... on 30 Jun, 2011 09:00 PM
Will do.
Jerry
12 Posted by Jerry/Skip Schn... on 09 Aug, 2011 01:53 AM
Ben,
It's gone well with the new update.
I'm really liking your product!
Thanks,
Jerry
13 Posted by Ben Spencer on 09 Aug, 2011 02:03 AM
Thanks for letting me know. I am pleased to hear that you like the software.
Sincerely
Ben Spencer
Ben Spencer closed this discussion on 09 Aug, 2011 02:03 AM.