tag:infinitekind.tenderapp.com,2009-01-14:/discussions/switching-from-another-personal-finance-program/18578-account-balances-wrongInfinite Kind: Discussion 2021-06-22T20:20:23Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/490932932021-03-17T16:52:04Z2021-03-17T16:52:04ZAccount Balances Wrong<div><p>just a user,</p>
<p>Is this the first time you balanced those accounts?<br>
Did you set the starting balance ?</p></div>mhoggietag:infinitekind.tenderapp.com,2009-01-14:Comment/490932932021-03-17T17:07:23Z2021-03-17T17:07:24ZAccount Balances Wrong<div><p>This is the first time and I did not set a starting balance. I just downloaded the transactions just like I have done on Quicken in the past. Thanks!</p>
<p></p>
<p>Anas Ouadi|Project Manager, Jacobs | Facilities Management</p>
<p>Rush University Medical Center | 1750 W. Harrison St. 603 Jelke, Chicago, IL 60612</p>
<p>C: 708.323.6396 | <a href="mailto:anas_ouadi@rush.edu">anas_ouadi@rush.edu</a></p>
<hr></div>Dennis Quaditag:infinitekind.tenderapp.com,2009-01-14:Comment/490932932021-03-19T19:51:54Z2021-03-19T19:51:55ZAccount Balances Wrong<div><p>Hi,</p>
<p>I really would like to get my accounts corrected otherwise your software is unusable. I have started with zero balance and downloaded my bank account info and none of them match. Please help!</p></div>douda_atag:infinitekind.tenderapp.com,2009-01-14:Comment/490932932021-03-19T20:43:19Z2021-03-19T20:43:19ZAccount Balances Wrong<div><p>Unless each of your accounts had a zero balance at the bank prior to your first download then you'll need to tell MD where to start. That value is neither downloadable nor guessable by MD.</p>
<p>Try searching the knowledgebase or discussions for "starting balance". Here's one I found...<br>
<a href="https://infinitekind.tenderapp.com/discussions/general-questions/25227-putting-in-a-starting-balance">https://infinitekind.tenderapp.com/discussions/general-questions/25...</a></p>
<p>-tony (a fellow user)</p></div>tgilbert666tag:infinitekind.tenderapp.com,2009-01-14:Comment/490932932021-03-19T20:47:02Z2021-03-19T20:47:02ZAccount Balances Wrong<div><p>I'm fellow user.</p>
<p>Direct connect for many banks just provides the last 30-60 days worth of transactions, it does not provide what the balance was prior to those transactions, so it is necessary for you to set the opening balance as at the date of the first transaction that is downloaded, the software has no way of knowing what this is.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/490932932021-03-20T20:58:11Z2021-03-20T20:58:11ZAccount Balances Wrong<div><p>Just to add, you can also enter in an equation in the Initial Balance field to have Moneydance calculate this value for you. For example, if your current balance in Moneydance is $300, but you know it should be $400, you can enter in 400-300 into the Initial Balance field and Moneydance will calculate that amount. This should be a one-time setup adjustment. Entering in an initial balance is one of the most common setup steps for accounts that do not have the full transaction history.</p>
<p>Ethan<br>
Infinite Kind Support</p></div>Ethantag:infinitekind.tenderapp.com,2009-01-14:Comment/490932932021-03-23T20:14:29Z2021-03-23T20:14:30ZAccount Balances Wrong<div><p>Ethan,</p>
<p>The solution below worked like a charm for my banking accounts, on the other hand, my 401K is out of whack. It shows way too many shares for some of my mutual funds. Is there any way I can manually adjust the shares and price to match Vanguard?</p>
<p>Thanks!</p></div>douda_a