Concern about reported problems with Moneydance

larryrich's Avatar


26 Dec, 2016 10:54 PM

I am choosing between Quicken and Moneydance. I would rather go with moneydance but for the following concerns.
1. As reported by an Amazon user: "When Moneydance processes downloaded transactions, it tries to align similar transactions. In the process, it goes and changes past transactions that have been confirmed and cleared." Past mortgage payments, for example, were reported to have been changed to be consistent with the most recent payment.
2. It was reported that payments dates can change without prompting.
3. I wish to specify where data is to be stored. Can I?
4. Will a PC version synchronize with a Mac version over a LAN?
5. It was also reported that downloading information from credit card companies and banks may not work as a result of software changes on those sites. (This is not a deal-breaker.)
If Moneydance changes previous entries in any way without alerting me, then I will not buy it. I am led to believe, however, that versions prior to 2015 did not have such problems. If this is true, then I would be willing to purchase an older, but stable version. Otherwise I'll go with Quicken.

  1. 1 Posted by derekkent23 on 27 Dec, 2016 08:38 AM

    derekkent23's Avatar

    I am not support staff, just a user.

    I can’t help you regarding downloading as I don’t use that feature, hopefully others can.
    However in 2017. You can store your data as well as the auto and manual backups anywhere you won’t.
    Moneydance will sync across operating systems. Unlike older versions the new 2017 sync engine allow the same data set to be open in two or more devices at the same time. The data is end to end encrypted. Initial syncing can take some time, a duplicate data set is automatically created in the other computers default data set location. Once running syncing takes place about every 30 seconds. Make a change on one computer and the change appears on the other computers. You can also make changes to your data set whilst the other computer are off, you don’t even need to be connected to the internet. These comments are based on using Dropbox, as this is the method I am using, but the new syncing engine also has the option ‘Shared Files’ with some reduced features, for other cloud providers. Take a look at ‘Sharing data using the Moneydance 2017 syncing engine’ at
    Also take a look at the knowledge base page at
    I suggest you download the latest version and try things out before you decide if you want to buy. I am using the preview version as this fixes some small issue compared to the released version and can be found at
    Don’t use Amazon or the Apple store, use this site as you get faster access to updates and free access to the next version plus a 50% discount on subsequent versions and you only need one purchase per household. Take a look at
    The only difference between this and a paid for version is that you are limited to 100 manually entered transactions, no limit to downloads or other features. Paying for the software unlocks the 100 transaction limitation.

    Hope this helps.

  2. 2 Posted by larryrich on 27 Dec, 2016 07:52 PM

    larryrich's Avatar

    Thank you for your response derekkent23. I will look at the links you posted however my key concern has not been addressed. I am reluctant to spend the time for an evaluation without a high probability of success.

  3. 3 Posted by dwg on 27 Dec, 2016 08:30 PM

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    From my observations of people using the features you mention it would seem that the only way Moneydance could in itself just change things is if the user selects "Automatically Merge Downloaded Transactions" this is user selectable, dates could also be changed is if the user selects "Use Bank Date for Merged Transactions". If the user goes through the Confirmation process manually then he/she should be aware of any changes.

    If a bank changes security requirements then any software will likely require to be updated since it is likely that a new security certificate will be required, if a bank changes connection information the software provider will likely need to update their software or change the connection information if it is held separately.

    Only you can determine what success or failure is and some users may have more problems then others.

  4. 4 Posted by larryrich on 29 Dec, 2016 01:05 AM

    larryrich's Avatar

    Ref concern #3: I downloaded Moneydance_windows_amd64.exe. With my first account setup I found no way to direct it to a drive and folder of my choice. In preferences there is no preference for a Moneydance default file location. How do I change the default file location?

  5. 5 Posted by dwg on 29 Dec, 2016 01:46 AM

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    After creating a new data set, close it, then use your Operating system file management software i.e. Explorer to move the data set to the location of choice. In Moneydance then use Open Other to navigate to the location and open the data set.

  6. 6 Posted by larryrich on 29 Dec, 2016 05:04 PM

    larryrich's Avatar

    Thank you again dwg. Does this mean that I always have to move the folder after creating it? i.e. that I cannot change the default?

  7. 7 Posted by dwg on 29 Dec, 2016 08:40 PM

    dwg's Avatar

    I do not know of a way to change the default. On the other hand creating a new data set occurs pretty infrequently.

  8. larryrich closed this discussion on 29 Dec, 2016 10:04 PM.

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