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Beginning (or ending) balance from last reconcile is incorrect. What do I do?
I've been reconciling in Moneydance just fine for a few months now, but suddenly when I go to reconcile my checking account again, the beginning balance (or last one's ending balance) is incorrect. I don't download files. Has anyone had this problem? Anyone know what to do? Does this mean I can't use MoneyDance anymore?
I’m frustrated
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Inappropriate?I have not experienced that problem in MD (yet!), but I recall that it came up in Quicken at least once. I can't remember the details exactly because it happened a long time ago, but I think the problem was created when I had either deleted or modified a reconciled transaction. Have you made any changes to old transactions in the account? -
Inappropriate?NO.2 Comments
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I have had this problem in two different accounts I am running on Moneydance. I can see no reason that the reconciled balance from the previous month should change. I cannot find a way to correct the balance back to the reconciled balance. -
I have had this problem in two different accounts I am running on Moneydance. I can see no reason that the reconciled balance from the previous month should change. I cannot find a way to correct the balance back to the reconciled balance.
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Inappropriate?This could happen if one of the previously reconciled (cleared) transactions has been uncleared or changed. It could probably happen also if one was deleted.
To fix, you need to reset the problem transaction/s or correct by un-clearing all transactions back to the last correct balance (where your register and statement or bank download match) and reconcile again.
Note also that when working with downloaded transactions, I have sometimes seen the balance received in the download not be correct; for me, it seems to have bee related to when an on-line payment actually gets subtracted.4 Comments Add a comment
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This does not answer the question. I have statements that match the ledger, but when I open the reconcile field I get a number that is unrelated to anything.
I do not have any downloaded transactions. All the transactions in the computer ledger match the bank report.
I don't have a lot of time to work on this. Is there anyway to reset the beginning balance number to the correct one? -
The only way I know to set a register balance at a particular point/date is to remove all the previous transactions and set the beginning balance in the account setup to the value you want or set the beginning value to the difference between what you want and the sum of all the previous transactions. Of course, doing the later will make any reconcile that was right before the particular point/date wrong and deleting the previous transactions dumps the history and maybe unbalances other registers that may have been transferred to and/or categories.
If your statements match your register in balances and transactions up to a point, but not after that, there is either a previously not seen bug in MD or the statement that does not balance is wrong. You would need to do a hand summation of the transactions to see which is right, if either. -
Brenda & avp2 - read my response from a coupla weeks ago. There is no "special balance" to adjust or reset - the MD balance is computed from the transactions in your file. To test out - clear or unclear a deposit or payment and see what the difference is in your balance. Hope this helps.
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Brenda & avp2 - read my response from a coupla weeks ago. There is no "special balance" to adjust or reset - the MD balance is computed from the transactions in your file. To test out - clear or unclear a deposit or payment and see what the difference is in your balance. Hope this helps.
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Inappropriate?The MD 'reconciled' balance is a balance of all the debits and credits that have been marked cleared.
ie - difference between total of all cleared deposits and total of all cleared payments. -
Inappropriate?Thank you all for your responses, I don't recall modifying any transactions to cause this but I will try avp2's suggestion!
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Inappropriate?Most banks show you all your transactions online so that you can go through item by item. Also, often you can quickly find a missing or erroneous item by searching for the amount of the difference both within Moneydance and at your banks Online web listing of transactions.
Good luck. -
Inappropriate?I'm having the same problem. Occasionally my beginning balance is just dead wrong, sometimes by hundreds of dollars. My first thought is that maybe I forgot to balance the previous statement or something. But currently I'm looking at a $231 discrepancy with no explanation for it.
I’m frustrated
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Inappropriate?I see no reason why the balance cannot be adjustable. I have had the wrong starting balance when reconciling for about six months now. Please correct this anomaly in the next MD version!!!
I’m frustrated
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MD could be made to do that. I guess what they would have to do is add whatever change you were to make to the account's "initial balance". I personally suspect, however, that it might cause more confusion than it cleared up and probably violate some accounting standard.
I remember having some fun times trying to track down an adjustment I made in Quicken where you can change reconcile balances to an extent. Trying to find the missing/changed transactions in a busy account can be time consuming.
You could enter your suggestion in the "suggestions" discussion area to see how it goes. -
If you really want to make a change in the balance, the way to accomplish that it to make an adjusting transaction with the adjusted amount as a deposit or payment and with the transaction cleared.
Better yet - see my comment above and understand what that means. I pretty sure MD is adding up correctly...
