On Dec 13, 2008, at 8:55 AM, Jake_Covert wrote: > I'm considering purchasing MoneyWell, but I have a few questions. > Some of these are tainted by years of Quicken use, I'm sure. > > A) I'm very used to seeing a running total next to each transaction, > but I can't seem to find this in MoneyWell. All I see is the total at > the bottom and the total on the right. Here's a usage scenario I > encounter every time: I enter in some transactions that I know are > going to occur in the future (scheduled via telephone or otherwise), > but I know they haven't posted yet. How can I find out the answer to > this question: "After transaction X, how much money will I have?" > Does this make sense? > HI Jake,
Yes it does but you also have to remember that the running total is usually not accurate. The problem has to do with the way banks work: They cut off your transactions at a certain point in the day, say 3:30 PM, and call that your balance. If you are overdrawn at that point, it doesn't matter if your register shows that you deposited at check next to cover that overage, you are still going to get penalized. Also, the order of transactions during the day is not consistent so you could get confused by that as well. That's why in MoneyWell, we show end of day balances. These should always match up to the bank and should help you reconcile your accounts. Just select a transaction for the day in question and look to see if that EOD balance matches your statement. If not, then check the previous day until you get a match and then you'll know which day needs to be reviewed in more detail. > B) In quicken, I would download my transactions and it would "auto- > reconcile" my account. This worked very well, and I never ended up > paying attention to the paper statements. I never had to. Looking > around the tutorials / documentation, it seems that even though I'm > still downloading transactions, I'll still need the paper statements. > Why? Avoiding those would enable me to have greater confidence on a > daily basis (that's how ofter I download transactions), rather than > wait until the monthly "event" of reconciling. > Auto reconcile is in MoneyWell but it's turned off right now. I'm planning on turning it on after I test it a bit more to make sure it doesn't confuse anyone. You should still be able to reconcile your account very quickly because MoneyWell marks the downloaded transactions as cleared and all you have to do is put in an ending balance on a date. Then MoneyWell will give you and indicator to "Check All" transactions and you'll be reconciled. > C) Tutorials: They all seem to be out of date. Obviously the core > functionality has changed, but it makes me wonder what's correct and > what's not. > Yes they are out of date and we're working to get new ones posted. Hopefully they will start to appear next week. Sorry for any confusion this may have caused. > Good program so far. Getting used to the income allocation part / x- > ferring money as needed between buckets still though. If you think of allocations as visually just putting money you've earned into different buckets and spending out of those buckets, that should help. If you want to go out to eat but your Dining bucket is empty, you can take money from another bucket to fund that night out and then you just have to cut back on that other expense. It's a way to proactively make sure you don't go over your budget. We are coming out with an iPhone version that will let you make these decisions when you are out and about as well. Peace, Kevin Hoctor ke...@nothirst.com No Thirst Software LLC http://nothirst.com http://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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
