Best use of MD

doug's Avatar


10 Dec, 2011 07:21 PM

I recently switched from Quicken. There are a number of areas of MD which I would like to understand better. It is more philosophy than specific how-to.

For instance, transfers. I've had my way of handling transfers for years in Quicken. I know I have not been utilizing them to best advantage. In fact I seldom used them at all. Now I have an opportunity to learn how to use them more effectively. It would be really helpful if the MD developers would publish a discussion about best practices. How do you view using transfers?

One area I am working on right now is between investments and bank. I sell an investment and the money goes to my bank account. Each institution generates a transaction which I download and record into their specific account. But they are not linked. Should they be? If I record them as a transfer, they would be. How could I use that information?

There are other areas where understanding the MD philosophy would allow me to make more effective use of the program. Descriptions/memo, category/tags, different uses of the check# field, how reports are organized. I suspect other users have their own areas that they would like to learn more about. ( I see a series of tutorials)

  1. 1 Posted by Jon Hoover on 16 Dec, 2011 04:21 PM

    Jon Hoover's Avatar

    Hi Doug,
    That sounds like a very helpful idea. It would be a good opportunity to explain the Moneydance philosophy and also some principles of accounting. I will pass the idea on to the support staff who do writing for Moneydance.
    Regarding transfers from investment accounts, I would recommend that in the case you described you use the sellxfer action when you write the sell transaction. Under the transfer box in the register you can specify the account you want the proceeds to go to and under the action box you specifiy 'sellxfer'.
    Please let us know if you have any more questions.
    Jon Hoover, Moneydance Support

  2. System closed this discussion on 31 Mar, 2015 03:40 PM.

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