Default catagory

Jon Winders's Avatar

Jon Winders

29 May, 2016 02:11 PM

When I imported my accounts from the institutions to begin using Moneydance I left the "default category" at ATM Withdrawal. All of the accounts downloaded properly. As I went in to change the Category to the proper income and expense category changed the account balances. Is there a proper step I am missing. I ended up deleting the account and starting over, but do not know how to proceed. I am sure it is simple.

  1. Support Staff 1 Posted by Ethan on 29 May, 2016 02:44 PM

    Ethan's Avatar

    The only way I can think of where changing a category would affect an account balance would be when the category is changed to another account, meaning that transaction is a transfer. Moneydance will then automatically create the other side of that transaction in the other account, increasing or decreasing the value of that account accordingly. You likely have a corresponding transaction downloaded from your bank in the other account. After correcting one of the transactions, you will likely need to merge the two transactions in the confirmation process. More information on the confirmation process with screenshots can be found on pages 38-9 of the user guide (http://help.infinitekind.com/kb/user-guides/moneydance-2015-user-guide).

    Ethan
    Moneydance Support

  2. 2 Posted by Jon Winders on 29 May, 2016 03:32 PM

    Jon Winders's Avatar

    Yea, it is odd. The bank account is on its own and all the transactions where downloaded from their web site. The balance is correct and the data is correct. It asked for the default category and I left it at ATM Withdrawal which is an expense account of course. When I went in to change all the transactions to their proper category it changed the balance of the account. I did not do the entire account. All the transactions where in the proper debit and credit columns. Maybe I need to do the entire account to get back to the original balance? If you change from a expense category to an income category it is bound to change the balance even if the amount is debit or credit? I have use Quicken for 20 years so I understand the processes, but this one is odd. The answer is probably very obvious.

    Thanks,
    Jon

  3. 3 Posted by Jon Winders on 29 May, 2016 03:42 PM

    Jon Winders's Avatar

    I am currently going thru another Bank account and changing the categories. I appears I did something wrong prior, because the changes are having no effect on the balance. I will continue thru all the accounts and see if the problem I had was just due to my eagerness to start using Moneydance. Sorry for the bother, I’ll let you know how it moves along.

    Thanks,
    Jon

  4. 4 Posted by Ben Spencer on 29 May, 2016 03:56 PM

    Ben Spencer's Avatar

    One way changing the category could change the balance is if you changed the category to be the bank account itself. Doing this would create a transfer from the bank account back to the same bank account.

    Also make sure you are changing the category within the bank account register and not within the register of the category its self.

    Ben Spencer
    Infinite Kind Support

  5. System closed this discussion on 02 Oct, 2016 02:36 AM.

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