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Exclude a "dummy" bank account from Net Worth

hoovmoss

04 Sep, 2010 02:10 PM via web

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I'm demoing Moneydance, having imported info from quicken. I like the homepage, listing of account balances and Net Wroth, but I've run into a problem, due mostly to how I've handled something in the past.

One of the investments I track is a Salary Deferral 403b. My husband's employer sends the money directly to the mutual fund. So the money never goes through our bank accounts. Nonetheless, I needed an "account" to list as the source account when entering securities purchases in Quicken for the 403b. So I created a dummy "Salary Deferral" "bank" account for doing so.

In Moneydance, though, this account then shows up in the "Bank Accounts" section and is included in the Net Worth calculations. (I'm sure the latter was true in Quicken, but there wasn't the same kind of home page, so I never saw or paid attention to this figure). I can find no way to remove it from the calculations.

I have one idea for a "kludge" solution: Creating an income category and then put dummy "deposit" entries in the Salary Deferral "bank" account to keep the balance at zero. But I'm wondering if there is a better solution?

Thanks for all the help; I've asked several questions over the last couple of days, and I've really appreciated the quick and friendly responses.

Moneydance 2010r3 (751)
OS: Mac OS X 10.6.4 x86_64
Java: 1.6.0_20 (Apple Inc.)

1. Support Staff 2 Posted by Tom Freeman on 05 Sep, 2010 05:59 PM

   

   In the net worth graph page, click the edit button. In the pop-up box , click the show "By Individual" button.

   You should now be able to uncheck the dummy account you created and exclude it from the net worth graph.

   Tom

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2. 3 Posted by hoovmoss on 05 Sep, 2010 06:27 PM

   

   Thanks! Is there a way to remove it from the list of Bank Accounts on the home page, too?

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3. Support Staff 4 Posted by Ben Spencer on 06 Sep, 2010 05:51 PM

   

   There is no way to remove an account form the networth calculation shown on the home page.

   I believe the correct solution would be to create an income account for the for the investment purchases and then make the purchases directly from that income account. This solution would not use the dummy bank account at all.

   Sincerely
   Ben Spencer
   Moneydance Support

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4. 5 Posted by hoovmoss on 06 Sep, 2010 07:59 PM

   

   Ben,

   Thanks for the help! I had tried to use an Income "category" before, and couldn't get it to work, but I tried again, and it worked this time. (Before I tried to Batch Change all the entries, and that's what didn't work; I did it by hand this time, and that worked fine)

   kabing

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5. Angie Rauscher closed this discussion on 28 Oct, 2011 03:28 PM.

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