If I am reading your post correctly then Moneydance is performing correctly.
If you spend money on your credit card to say purchase petrol then that is a CHARGE and the balance of your credit card goes more negative. When you transfer money to you credit card say from your bank account it’s a PAYMENT and your balance heads in the positive direction.
So normally with a credit card account your in the red, a negative value.
on 25 Aug, 2019 08:51 PM
Thanks for your input. I didn’t realize the values showed red when negative, so my balance was showing positive. I know I don’t have a positive balance so I was getting confused. I am so new at this, I thought I had done something to screw the program up. I just transferred over from Quicken, so I have a few things to learn. Now, I guess I have to figure out why there is a positive balance.
Thanks again for your help!
on 26 Aug, 2019 06:58 PM
Yes, manipulating the initial debt allowed me to get the previous balance on reconciliation to match the credit card company. My problem now is that at one point in the last year or so, my computer entered the data wrong for Quicken software and the balance became off by tens of thousands of dollars and I couldn't see any problem with my entries so had to fudge it to make it come out right. In coming over to Moneydance, I am not able to match up both the previous debt (so it matches reconciliation,) and the credit card balance. I can do only one or the other. I decided I should just open a new account, starting with the figures after this reconciliation. I have a feeling my bank statement will be the same, again due to some computer glitch. (The Quicken software was from 2004, and the computer was also very old.)
Anyway, I really appreciate your help in this matter!
Thank you very much
Fudges often do find a way of coming back to haunt you. :)
You can mark your 'old' credit card account as 'Inactive' so as to preserve the historical data without it effecting your net worth. You do so, on the same form as the 'Initial Debt'; just tick the checkbox next to 'Inactive'.
on 26 Aug, 2019 09:47 PM
Ha, Ha, I guess they do eventually find you out.
I just inactivated the account, thank you. What does “parent account” mean? It automatically filled in my checking account with my savings account as the parent account when I transferred the information from Quicken. I don’t think that is right. I don’t think my checking account is paired with any account (from my perspective).
on 29 Aug, 2019 04:14 PM
I see that everything you said is correct. I don’t understand why there is a category Parent Account. The top of my list is a credit card so my banking account has for the parent account my credit card. Is it just that MD uses this as a file name, a way of storing all the other files under this heading? Otherwise, obviously, the credit card has nothing to do with my bank account except that they are at the same bank, so they have the same name.