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Beginning Balance

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Dan Sutliff

06 Apr, 2012 01:59 PM

I have been using MoneyDance since the beginning of the year. (3 months)

I download my transactions into my checking account about once a week.

When the monthly statement arrives - I try to reconcile. Each transaction is correct, but the Beginning Balance is wrong - every single month! It does not correspond to the beginning balance on the statement. Nor will it then balance after entering the Ending Balance from the statement.

Why can't the Beginning Balance be entered manually?
(p.s I don't think enter a dummy transaction is the answer)

Thanks,
Dan

1. 1 Posted by Jon Hoover on 06 Apr, 2012 02:13 PM

   

   Hi Dan,
   Did you import prior account history from Quicken?
   Sincerely,
   Jon Hoover, Moneydance Support

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2. 2 Posted by Daniel Sutliff on 06 Apr, 2012 05:55 PM

   

   Yes, 3 months ago.

   -Dan

   Daniel Sutliff
   [email blocked]

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3. 3 Posted by Andy A on 06 Apr, 2012 07:07 PM

   

   I'm having the same issue when downloading transactions for the first time from my account online. I have noticed that it does not download a complete history of transactions. I agree with Dan, adding an "adjustment" is not the answer.

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4. 4 Posted by Daniel Sutliff on 07 Apr, 2012 11:43 AM

   

   It seems to be different than not downloading.

   I am checking with the statement, so all transactions gave been downloaded - plus it's every month.
   The 1st time I did try to add a dummy transaction, but the next 2 each had a different discrepancy.
   It's the starting value that is different, and not equal to the last ending value..

   Daniel Sutliff
   [email blocked]

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5. 5 Posted by -Kevin N. on 07 Apr, 2012 01:38 PM

   

   Hi All,
   The Beginning Statement Balance [BSB] is a calculated value and can not be overriden per se. The calculation is derived from the 'Initial Balance' plus the sum total of all 'Cleard' txns in the register. Overriding the BSB would only mask an underlying problem.
   To affect the BSB, you need to either edit the 'Initital Balance' (Acccount > Edit Account) or change the 'Cleared' status of a txn or txns within the account.
   HTH -Kevin N.

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6. 6 Posted by Daniel Sutliff on 07 Apr, 2012 01:57 PM

   

   OK - but why do I have to do that every month?

   Daniel Sutliff
   [email blocked]

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7. 7 Posted by -Kevin N. on 07 Apr, 2012 02:29 PM

   

   Hi Daniel,
   Is it possible that you have Reminders which are marked as 'Cleared' that are being auto-commited into the account?
   There must be some change in the 'Cleared' status of your monthly txns that is causing the BSB to change.
   HTH -Kevin N.

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8. 8 Posted by Daniel Sutliff on 04 Jul, 2012 02:42 PM

   

   No - I auto download all transactions from the bank.

   This is the 6th month (out of 6 months) that I can not balance my bank statement for my primary bank account.
   I have no problems with a 2nd account (in which all entries are manual)

   I request a refund - the product is not as I expected.

   Daniel Sutliff
   [email blocked]

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9. 9 Posted by Scott Meehan on 04 Jul, 2012 02:59 PM

   

   Hi Daniel,

   I've asked our payment processor to refund the cost of your license, which usually takes less than 24 hours. Sorry that Moneydance didn't work out for you!

   Scott Meehan
   Moneydance Support

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10. Scott Meehan closed this discussion on 04 Jul, 2012 02:59 PM.