Exclude account from Net Worth calculation

Zoltan Koczkas's Avatar

Zoltan Koczkas

09 May, 2021 07:00 AM


I need tor track some amounts that are included in a bank account. So I created an 'Asset' account and enter these amounts there. But since these amounts are already included in the bank account, now I have them in the 'Net Worth' twice. Is there a way to exclude the 'Asset' account from the 'Net Worth' calculation? Another solution would be to add a 'sub'-account to a bank account. Is this possible? Either solution would be ok for me. The sub-account would be the cleaner solution, but exclude an account from the 'Net Worth' calculation seems simpler to implement to me.

Kind Regards,

  1. 1 Posted by Stuart Beesley ... on 09 May, 2021 07:09 AM

    Stuart Beesley - JUST A FELLOW USER and Toolbox ‘guy’'s Avatar

    Which NW calculation? Home screen; report; graph?

    (Not support, just a fellow user)

  2. 2 Posted by sultan on 09 May, 2021 07:15 AM

    sultan's Avatar

    Home screen (Summary page).

  3. Support Staff 3 Posted by Ethan on 09 May, 2021 08:10 PM

    Ethan's Avatar

    I would recommend going with the subaccount option. If you add the same information again as an asset account, Moneydance will just could it as an additional asset, because that's what you've told the program to do. If you create a subaccount, you can then transfer the funds of whatever you're tracking from the parent to the child account, and then do whatever kinds of other transactions you need to in there. Everything should still be totaled up correctly in things like your net worth reports. You can use this method to do things like 'putting aside' money for taxes, for example, even though those funds are still technically still in the same account.

    If that doesn't seem to meet your needs, perhaps we could offer more suggestions about how to handle this if you described what this asset is and what you are trying to do with it in more detail.

    Infinite Kind Support

  4. 4 Posted by sultan on 10 May, 2021 02:01 PM

    sultan's Avatar

    The solution with subaccounts worked.



  5. Maddy closed this discussion on 10 May, 2021 03:31 PM.

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