Reconciling
How do I reconcile my account for the first time? When I try, it shows my beginning balance as $0.
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1 Posted by dwg on 17 Feb, 2024 11:25 PM
The beginning balance is calculated by Moneydance, the formula used is:
Initial balance + cleared deposits - cleared withdrawals
A 0 balance means you have none of these yet. This is typical of a new bank account that has never been reconciled before. So on the surface I am not seeing an issue.
System closed this discussion on 18 May, 2024 11:30 PM.