Home → Problems →

Convert Liability Account to Loan Account

• Edit

Kevin C

07 Jul, 2012 02:03 PM

I just imported data from Quicken into MoneyDance. I had 2 loans in Quicken, a car loan and a mortgage. When they were imported MoneyDance has them as Liability account, not Loan accounts. How do I convert them into Loan accounts?

1. 1 Posted by -Kevin N. on 07 Jul, 2012 02:31 PM

   

   Hi campbell.kevine,

   Once created, you can not change the 'type' of an acccount.

   I don't hold any Loan or Liability accounts in my data file so I'm flying a little blind.

   Having said that, you should be able to use 'Batch Change' to move the txns in the Liability account over to the Loan account.

   You'll need to create the new Account of the proper 'Type' and then use 'Batch Change' to move the txns from the old Account to the new Account.

   Always make sure that you have a recent backup or copy of your data file before using 'Batch Change'.
   Batch Change is a powerful tool. If a mistake is made using Batch Change with multiple txns selected, things can get ugly in a hurry.

   1) Create the new Account. Tools > Accounts > New

   2) Next, Tools > Accounts, Locate the old Account that you want to move the txns out of and right-click it (CTRL-click for Mac). Choose 'Open in New Window'.

   3) This will open the register for the old Account in a new window. Select (highlight) any txn then use key-combo CTRL-A. All of the txns in the register should now be selected (highlighted).

   4) Right click (CTRL-click for Mac) any of the highlighted txns, choose 'Batch Change', then 'Account'. From the resulting 'Account' drop-down list, select the name of the new Account that you created in Step 1.

   This process will remove all txns from the register of the old Account and move them to the register of the new Account.

   You can then close the New Window.

   You can then delete the old Account.

   Again make sure you have a backup or copy of your data file before attempting this process.

   HTH -Kevin N.

   • Edit

2. 2 Posted by Kevin C on 07 Jul, 2012 02:47 PM

   

   Thanks Kevin. That's sort of what I thought I'd have to do. Another question. When I add a transaction reminder for a credit card payment, how do I specify the amount for the recurring transaction? In Quicken I could set it up so that it would automatically set the payment amount to the balance of the card. IAW each month the payment amount in the reminder would be set to whatever the balance was on the credit card.

   • Edit

3. 3 Posted by Kevin C on 07 Jul, 2012 02:49 PM

   

   Another question. On reminders, in Quicken if I had a recurring reminder set for a specific transaction I had the ability to override the next scheduled transaction and change the date or change the amount of that one occurance without affecting the overall recurring transaction. Is there a way to do this in MoneyDance? I only see where I can defer the reminder, but that doesn't seem to allow me to defer it to a specific date or to change the amount of that one occurance.

   • Edit

4. 4 Posted by -Kevin N. on 07 Jul, 2012 03:21 PM

   

   Hi campbell.kevine,

   What I do with Credit Card Reminders is to leave the amount blank and I do not auto-commit them. I fill in the amount when I record the Reminder.
   The amount of the txn for a Reminder can not be set based on the remaining balance of the CC account. That sounds like a nice feature though.

   Once the Reminder date is established it can not be changed for one occurrence. You can however change the date and / or amount when you record the Reminder to your register. Doing so has no effect on the original Reminder.

   HTH -Kevin N.

   • Edit

5. 5 Posted by -Kevin N. on 07 Jul, 2012 03:38 PM

   

   Hi campbell.kevine,
   Amendment to my prior post. With regards to CC Reminders, I do not leave the amount blank, I create the Reminder with an estimated amount so as to provide cash flow information.
   HTH -Kevin N.

   • Edit

6. Kevin C closed this discussion on 15 Sep, 2012 02:12 PM.