transaction matching problem when importing an .ofx file
I am busy evaluating Moneydane 2011r2 (803). I imported the transactions for one month and assigned them to categories.
When I imported the following month's transactions the
transaction matching made many mistakes. For example I pay my local
city tax for two properties and electricity. The description from
my bank for each transaction starts with
CITY OF CAPE TOWN
and each has separate endings and should go to the following
categories
CITY OF CAPE TOWN - HOUSE -> Category House:Rates
CITY OF CAPE TOWN - FLAT -> Category Flat:Rates
CITY OF CAPE TOWN - ELECRICITY -> Category House:Electricity
but they all get assigned to Category
House:Rates
Both AceMoney and Fortora allow the manual setting of import rules. Is this possible in Moneydance?
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2 Posted by james f on 31 Jan, 2012 03:38 PM
See the following screenshots as how to setup Moneydance to Manual.
Did you add or edit your Category list to include House: Rates, Flat:Rates, House:Electricity?
As for Electricity, there is already a category field for Electricity. It is under Bills or Utilities.
I find it best to use the manual "Merge" option. You then have total control over the Merge process.
I also encourage new users to get into the habit of downloading, merging, and reconciling every couple of days or so. That way your account in Moneydance is as up to date as possible.
3 Posted by tbartleet on 01 Feb, 2012 12:17 PM
Thank you for your quick response.
I think we have missed each other a little. Firstly I am not intending to enter information manually on my current account (what American's call a checking account - checks are almost never used in South African any longer) so this is not a matter of merging manually or automatically. I would just like the categories to correctly assigned based on the payment description from the .ofx file I download from my bank.
The specific categories are not important (I have changed the default ones) I would just like the three imported payments to be automatically allocated to the specified categories.
The three payments I describe are all made as electronic funds transfers from my bank account. Every month the description is identical. When I import the data for the second month after categorising each for the first month
CITY OF CAPE TOWN - HOUSE -> Category1
CITY OF CAPE TOWN - FLAT -> Category2
CITY OF CAPE TOWN - ELECRICITY -> Category3
When I import the data for the second month all the items which start with CITY OF CAPE TOWN are incorrectly allocated to Category1
CITY OF CAPE TOWN - HOUSE -> Category1
CITY OF CAPE TOWN - FLAT -> Category1
CITY OF CAPE TOWN - ELECRICITY -> Category1
Other personal finance software, for example, Ace Money allow the user to specify import filters manually. I have found for this forces the regular transactions to be correctly categorised.
Does Money Dance have such a feature or is such a feature proposed?
4 Posted by james f on 01 Feb, 2012 08:42 PM
You first have to "teach" Moneydance which transactions are to be associated with which Categories by manually entering the transactions ahead of time.
You can also setup "Reminders" to automatically enter the transactions into your ledger up to one year in advance for recurring bills that do not change from month to month.
Further, if you set up your Network Preferences as I showed in screenshot Picture 4, then you won;t run into "all the items which start with CITY OF CAPE TOWN being incorrectly allocated to Category1. You will have full control over the download procedure.
5 Posted by tbartleet on 03 Feb, 2012 09:50 AM
Thank you. I'll try this out.
tbartleet closed this discussion on 03 Feb, 2012 09:50 AM.