Moneydance calculating bank balance in incorrect order

Christopher's Avatar

Christopher

23 Jan, 2020 05:02 AM

Hello,

I have been using Moneydance for a few months now and I enjoy it, however - I have come across a problem.

I use Money Foresight extension to plot a graph of my projected bank balance based on transactions and reminders. Recently I went into the red because the minimum balance was actually higher than the real bank balance - and there was no difference in the transactions in both my bank and Moneydance.

I have done some digging, and come to the conclusion that the 'Current Balance' that is calculated at the beginning of Money Foresight's projection is calculated in chronological order, which is incorrect, as real life transactions do not reconcile in this order!

If I have the following transactions, and an initial balance of 100.00, consider that my 'balance' column is not reflecting the actual reconciled balance of the bank, and therefore reporting incorrect balances:

January 1 (Cleared) 123 Deposit = 223.00
January 10 (Reconciling) 100 Payment = 123.00
January 10 (Uncleared) 50 Deposit = 173.00
January 15 (Cleared) 1000 Deposit = 1173.00

Now if I filter by Uncleared transactions, I see the following:

January 10 (Reconciling) 100 Payment = 123.00
January 10 (Uncleared) 50 Payment = 173.00

Moneydance SHOULD be showing the reconciled balance of initial balance + cleared (100 + 123 + 1000) = $1223 and then calculating the 'current balance' after that. The correct balance should be $1073. This is my reconciled $1223 less 100 less 50. Instead, Moneydance would display $173.00 because it is calculating the transactions in chronological order.

Is the solution seriously to alter the transaction date on every transaction when I clear them? I have used GnuCash, HomeBank, Skrooge and even an Excel spreadsheet and this would be expected behaviour. Is there an option to calculate balances differently, or am I just going to have to change my way of reconciliation? This is silly, and at that point if MD is not going to calculate balances based on the actual transactions in the current view then it is not going to work for me.

Please see attached example Moneydance file, and switch between All and Uncleared to see this effect.

  1. 1 Posted by Christopher on 23 Jan, 2020 05:05 AM

    Christopher's Avatar

    Attempting to re-attach Moneydance backup file to demonstrate issue.

  2. 2 Posted by jeff_l on 23 Jan, 2020 09:32 PM

    jeff_l's Avatar

    Hi Christopher,

    Not sure if your question relates to perceived anomalies in MD or the Money Foresight Extension. If it is with the extension you should address your comments to Mahana Road Software Ltd.

    If it relates to MD you should be aware that MD has great flexibility in how it displays items in the register. Highlight any item, then right click, go down to Sort By & you will see a multitude of different options. I have mine set to Date/Amount.

    This one feature alone convinced me that MD was the program to handle my finances. Non of the programs you mention have this ability nor does Quicken or Microsoft Money.

    Forgive me if I have misunderstood your question. But I can’t see anything wrong with your test file.

    Jeff – Fellow user

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