reconciliation
hi.. ok.. so i am mostly converted from windows quicken.. getting the hang of it.. but..... i really need to understand the difference between a check mark (cleared), and the yellow diamond (reconciliation).. i am having trouble matching the balance with my bank when i try to reconcilate.....
what i do know.
when i confirm transactions it puts a green check mark... when does
it go to yellow? and then after i reconciliate, what does it change
to? i am trying to figure that part out?? its not really clear..
would LOVE if i could speak to someone.. personally it would help
me a lot and i could move along faster...
thanks
roz
602-762-6262
p.s. last time i tried to reach out it took quite a while for someone to get back to me.. customer support is really really impt when switching banking software.. please help..
i also want to verify that i am sending my online pmts correctly. i want to understand the date stuff in the reminder window..
thanks
i have more than one screen shot, but can only add 1. . even
emailing back and forth with someone would be so helpful.. this is
so limiting.
Screen_Shot_2015-03-13_at_9.45.31_AM.png
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1 Posted by -Kevin N. on 13 Mar, 2015 05:54 PM
Hi roz40love,
I think that part of the problem you are running into is that you have chosen to 'Clear' your txns when you 'Confirm' them. This is not necessarily the wrong way to do it. As a matter of fact, it is exactly how I do it. However, doing so negates the need for using the 'Reconcile' option and renders it pretty much useless.
My thought process is that if I've downloaded a txn, looked it over & confirmed it, then there is little reason to revisit it again through a monthly reconcile process.
If on the other hand, you would prefer to use the 'Reconcile' option, then don't mark your txns as 'Cleared' when you 'Confirm' them. If it is happening automatically then there is an option in 'Preferences' on the 'Network' tab that you'll need to disable.
The gold/yellow diamond in an intermediate setting that is applied during the 'Reconcile' process. It essentially only appears during the Reconcile and when the Reconcile is over, it is changed to the green check-mark.
Look to Chapter 10, pg. 67 of the Moneydance 2015 User Guide for more information.
HTH -Kevin N.
2 Posted by Roz Goldberg on 14 Mar, 2015 03:44 PM
thanks, as for reconciliation, that makes alot of sense now.. i also want to know about the reminder section.. if i put a new transaction in, will it prompt me and then let me adjust the amt to be sent or is it going to send? what does the first date and last date mean? see screen shot-- and should i be using it?
ex.(see screen shot). if i need a bill to be paid on the 5th, did i set it up correctly? is it going to send it automatically? or will it prompt me a day or so in advance? will it also allow me to adjust the pymt amount? and add splits if needed? and will this do this every month the same way? i have only used send online bill pymt (see screen shot) for the first time for all my march pymts.. now i want it to be done monthly so i went to the reminder section for all my april bills and so forth... is that correct?
last thing.. is there a way to update my 3 accounts without always putting in my password for each one? they are with the same bank, same user name, same password.. everytime i open moneydance, it wants me to put password in for each acct?
appreciate the feedback.
Roz
602-762-6262
3 Posted by -Kevin N. on 14 Mar, 2015 04:16 PM
Hi Roz,
It sounds like you have a pretty good understanding of Reminders.
I don't use the internal bill pay system in Moneydance. However, I would assume that the behavior is that of any other Reminder in that, you will see a notification on the Summary page when the due date approaches. You can then click on the appropriate Reminder wherein you will be allowed to edit that instance as desired.
The 'First Date' field is provided so as to enter a starting point for when you want to begin being reminded about the txn. The 'Last Date' is not required. Unless it is known and you want to enter it.
Provided that Splits were entered when the Reminder was created, then those Splits will be applied to each instance of the Reminder. You can, of course, edit, add or remove them when prompted to commit the Reminder to the register.
Again, I'm not a user of the internal payment system so I can't say for certain that a payment that is due on the 5th would be properly processed if it were sent in on the 5th. Personally, I would give it at least 2~3 business days to clear the financial hurdles involved, if you know what I mean. Perhaps someone with more experience with this procedure can chime in on that matter.
Moneydance can store your online banking user ID's and passwords.
However, as a security measure, you must encrypt your data file using Moneydance's encryption feature.
To do so, open Moneydance
Go to File > Encryption...
Fill out the resulting form.
Check-mark 'Encrypt Data File' and 'Store Online Passwords in File'
You may or may not be prompted one more time for your online passwords in order for Moneydance to 'learn' them.
You will also be prompted now for your password to open your data file.
DO NOT FORGET YOUR PASSWORD!
Per the Moneydance User Guide, there is no means of retrieving it.
HTH -Kevin N.
4 Posted by Roz on 14 Mar, 2015 04:36 PM
Wow!! Kevin, thanks so much for the quick response and detailed explanations. I should be good for a while. Have a great day!
Appreciate it!
Roz
Sent from my iPhone
5 Posted by -Kevin N. on 14 Mar, 2015 04:48 PM
Hi Roz,
My pleasure.
Just as an FYI. Since these are public forums, in the future, I would refrain from appending your phone number to posts.
Perhaps one of the Moneydance Support staff can delete it for you.
I've posted a request to allow forum users to edit and delete their posts but it has not yet been implemented.
-Kevin N.
6 Posted by Roz on 14 Mar, 2015 04:50 PM
Ok. Thanks, I'll see if I can let them know. BTW, if I encrypt, will that effect my Dropbox syncing?
Thanks again
Roz
Sent from my iPhone
7 Posted by -Kevin N. on 14 Mar, 2015 05:15 PM
Hi Roz,
I don't keep my data file on Dropbox but I don't see how encrypting the file would effect syncing. I haven't heard of it doing so either.
HTH -Kevin N.
8 Posted by Ben Spencer on 14 Mar, 2015 05:44 PM
In MD2015 all data is encrypted. The only difference between turning encryption on and turning it off is that with it on the key used to decrypt the data is also encrypted with your passphrase. There are no problems using encryption when syncing with dropbox.
Ben Spencer
Infinite Kind Support
System closed this discussion on 19 Mar, 2016 04:55 AM.