Henry on 22 Apr, 2017 03:59 AM
To change the Beginning Statement Balance, you'll need to adjust one of these variables. To change the Initial Balance of the account, open the account register and go to Account->Edit Account. You can enter mathematical equations in the Initial balance field in the credit card account to calculate the amount it should be. For example if your current credit card balance is 1476.62, and the balance shown in Moneydance is 27.65, then enter 1476.62-27.65 (use the minus sign) in the Initial Balance field and hit enter. Moneydance will automatically calculate the proper Initial Balance.
on 22 Apr, 2017 04:23 PM
Thanks for getting back to me so quickly. My bias is that I am an
accountant. What I have been used to doing versus what Moneydance is
programmed to do. In order to adjust the balance, I have to force the
opening balance to produce the correct balance.
In my opinion Inserting balances to be remembered for future reconciliations is just potentially covering up problems that exist in the Moneydance register, the way Moneydance works will show if there are problems with transactions.
The initial balance should be the closing balance of the account prior to the first register entry in Moneydance, if you change it away form this it suggests to me that there is a problem somewhere.
If later on the reconciliation is out it implies that something has been changed or something has occurred which needs to be attended to. The following article outlines likely issues:
Personally I do not subscribe to the solution of entering an adjustment transaction, why bother reconciling if you are just going to add an adjustment transaction. I prefer the purist option of finding the offending transaction and fixing it.