"Once MoneyWell 1.4 ships, we will be redoing all the videos and have plans for many more that are short and offer basic tutorials on banking activities."
That is fantastic news Kevin. Non financial savvy people such as myself need all the help we can get! Keep up the great work. On Oct 24, 10:50 pm, Kevin Hoctor <[EMAIL PROTECTED]> wrote: > On Oct 24, 2008, at 8:28 PM, Urbanite wrote: > > > I'm tired, frustrated and becoming very disillusioned but I don't want > > to quit. > > Hello Urbanite, > > I'm so sorry that you have been having trouble. I'll do what I can to > help. > > I'll add some comments below also but here is the basic steps to > reconciling an account. > > 1. For your first reconcile, begin with a starting balance of zero > and include your starting balance in the date range > 2. If all your transactions match in the date range, MoneyWell will > alert you to click the "Check All" button > 3. If there is a discrepancy, you can use the daily balance at the > bottom of the window to help > 4. Highlight transactions starting at the oldest date and compare > the daily balance in MoneyWell with your daily balance on your bank > statement (or bank's website) > 5. When you see a balance that doesn't match, stop and compare the > transaction on that date > > Remember that you can add, change or delete transactions directly from > the reconcile view. More comments are below in your text. > > > > > Last weekend I spent most of it getting to know Moneywell and lost > > several hours trying to get my checking account balance to match my > > bank statements. > > However, I did close up my computer with some joy and promise of > > returning to Moneywell again because I had succeeded in getting my > > balance in the accounts column (the one on the left) to match my bank > > statement. > > > And that is thanks to finding this post: > > > "Woody, > > A small nuance that may be affecting your ability to reconcile > > is your Starting Balance. > > If the Starting Balance and the beginning of the reconcile period > > are > > on the same date, you will get surprising and unexpected results. > > A > > quick way to check this is to compare the difference to your > > account's > > starting balance (In this case, was your starting balance $1047?). > > The Starting Balance is included in the Reconciled Totals of the > > reconciliation if it is within the reconciliation period, but no > > amount of adjusting the Starting and Ending Balance will balance > > the > > account. > > Instead, make sure that the Starting Balance is established as a > > transaction on a date prior to the beginning of the reconciliation > > period--this will make this problem go away. > > Hope this helps! > > Blair" > > > Once I finally found out that I needed to make my Starting Balance > > prior to the first transaction date--the earliest dated transaction-- > > it worked. Moneywell balanced exactly with my bank statement. (I had > > successfully reconciled all the statement periods but was not getting > > the correct balance so I was elated that all my time had not been > > wasted.) > > > All I had to do was make my opening balance begin on 4/25/08 since I > > had imported all my transactions from that date forward. > > As I said, you can just choose to make your statement beginning > balance zero instead of trying to exclude your opening balance > transaction. > > > > > So tonight, about three hours ago I set out to pick up where I left > > off in Moneywell from last weekend believing that I was returning to > > an accurate checking account balance and could start working on my > > spending plan. > > > But no. > > > It showed that I had about $3000 more in it than my bank statement's > > balance. After quite some time I discovered that Moneywell was > > showing an Opening Balance in June with $3025.00!! I had a balanced > > account when I closed it last Sunday night--and yes, I saved it. > > > I never entered that number. I didn't use June as my starting point. > > I started my first transaction on April 25th and began with my Opening > > Balance on April 24th. > > That's how I finally got everything to work last weekend. > > I'd have to review your file to see what happened here but I haven't > heard of a bug that generates transactions. > > > So I deleted it, but I am back to not having a balanced checking > > account with Moneywell that matches my bank statement tonight. I don't > > know how much I'm off by. I've attempted to reconcile from my last > > statement period (Oct. 14) to October 18th but it's off by about > > $1300. The bank says I have $600, Moneywell says $1900. > > Please try my steps at the top of this email and see if that helps. > > > Clearly Moneywell is working great for many other people and I'm not > > ready to give up on it. I just need some simple instructions as to > > how to begin and keep an accurate, solid balance I can trust. > > > I've viewed your tutorials, but they don't seem to show a basic step- > > by-step of where to begin with entering/importing transactions and > > getting your balance to be accurate. > > > Or have I missed something? > > Once MoneyWell 1.4 ships, we will be redoing all the videos and have > plans for many more that are short and offer basic tutorials on > banking activities. > > > I would appreciate hearing from anyone who can step me through this > > piece of getting my checking account to balance against my bank's > > balance. I haven't even begun to set up buckets or flows or a spending > > plan because I need to know this software is accurate and reliable. > > I use MoneyWell for both my personal and business accounts and it is > both accurate and reliable (and my personal accounts document has > nearly 10,000 transactions). Stick with it and ask me any questions if > you get stuck again. We'll work through it. > > Peace, > > Kevin Hoctor > [EMAIL PROTECTED] > No Thirst Software LLChttp://nothirst.comhttp://kevinhoctor.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "No Thirst Software User Forum" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
