It's Still Much Too Tedious and Difficult
Several years ago I switched to MD because the process of downloading Vanguard data was too tedious and difficult. MD has only been a little better. The basic problem is that when I transfer money from one account to another, or from my money market account to Vanguard's checking account, I can't treat it as money simply going from one account to the other. I have to deal when sell transactions, transfers, and buy transactions. For me, it shouldn't be any more complicated than moving money from A to B.
I just spent 5 hours dealing with this, partly because I always delay my Vanguard downloads because I know it will be such a hassle. The things I am doing are things that computers are good at, and humans are bad at. This should be done by your application. MD should see, for example, that I transferred $10,000 from the Total Stock Fund to the Prime Money Market fund, and take care of EVERYTHING.
Since I do this stuff only every few months, I have to rely on notes as to how to do it, and relearn everything each time. If I find another application that will make it easier, I'm gone. This is a great opportunity for you to attract customers: AUTOMATE.
Here are just some of my notes:
**In the Prme MM, you'll see a sell transaction (Description SWEEP TO BROKERAGE). Just change the category from "Advertising" to nothing, and Confirm the transaction.
WARNING: followed this last month and still got duplicates
On the VanguardAdvantage side, you'll see an Xfr transaction with a positive value. Change the "Transfer" category to "Prime MM Normal" and Confirm it.
Do the above for all of the positive values. Then view only the unconfirmed transations. They should all be negative. Fill is the payee and category (For example, set payee to Mastercard Payment and the Transfer to "Mastercard." Or, for example, change it to Farmer's Insurance and the category to "Car:Echo:Insurance"), and confirm.
You can view or print all of the Billpay transactions, and then go through them and set the correct payees. Tags are not implemented here.
Check that the cash balance is zero. If not, find the place where it stops "returning to zero" after every few transactions.**
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1 Posted by Jon Hoover on Mar 22, 2013 @ 07:55 PM
Hi xxtemp,
Thanks for your suggestion. I have created a ticket for this issue. The ticket is attached to this discussion. By posting in this discussion your interest in the ticket has been registered. This is equivalent to voting for it.
Thanks again for your suggestion, and thanks for your interest in Moneydance!
Jon Hoover, Moneydance Support
2 Posted by david.reitter on Apr 02, 2013 @ 02:07 PM
I encounter this regularly - when my credit card is paid. The transaction shows up in both my checking account and in the c/c account with slightly different dates. MD is unable to automatically recognize that this is a transfer. Once the category is set, one ends up with a double transaction requiring manual merge or delete, and even then the date will be incorrect in one of the accounts.
System closed this discussion on Mar 31, 2015 @ 04:04 PM.