Enter acct balance then....?

Newbie here. Just started using Money. I obediently entered the closing
balance from my last statement and then started plugging in transactions
after that date...now the checkbook and the balance in Money do not agree.
Worked great with Quicken...I just got tired of talking to people in
Bangladore. Short of deleting the account and starting over with a phony
"ending balance" that would make the two agree (and then poking all
subsequent transactions back in again :-( , is there an easier method? I
want to start Money out as of 1-1-06.

Bob Gardner

Cal
Wed Feb 15 18:41:23 CST 2006

In microsoft.public.money, Bob Gardner wrote:

>Newbie here. Just started using Money. I obediently entered the closing
>balance from my last statement and then started plugging in transactions
>after that date...now the checkbook and the balance in Money do not agree.
>Worked great with Quicken...I just got tired of talking to people in
>Bangladore. Short of deleting the account and starting over with a phony
>"ending balance" that would make the two agree (and then poking all
>subsequent transactions back in again :-( , is there an easier method?


The first thing I would do is to zero the starting balance for the
account. After you have entered all of the past transactions that
you care to, I would note the balance of the register. Subtract that
from the "known" balance, and make a single compensating transaction
dated prior to all other transactions. Either give it no category,
or make an adjustment category.

> I
>want to start Money out as of 1-1-06.

While I know you have to start somewhere, perhaps a different time
would be good too.

Bob
Wed Feb 15 19:35:14 CST 2006

Thanks, Cal. I did the "adjustment" bit but thought there might be another
way. Don't know how I would zero out the starting balance...seems to me that
once you initiate the account and put in a starting balance you are stuck
with it.

Bob

"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
news:3bi7v11fpc0rnrg41q8r683dnh4ea3740f@4ax.com...
> In microsoft.public.money, Bob Gardner wrote:
>
>>Newbie here. Just started using Money. I obediently entered the closing
>>balance from my last statement and then started plugging in transactions
>>after that date...now the checkbook and the balance in Money do not agree.
>>Worked great with Quicken...I just got tired of talking to people in
>>Bangladore. Short of deleting the account and starting over with a phony
>>"ending balance" that would make the two agree (and then poking all
>>subsequent transactions back in again :-( , is there an easier method?
>
>
> The first thing I would do is to zero the starting balance for the
> account. After you have entered all of the past transactions that
> you care to, I would note the balance of the register. Subtract that
> from the "known" balance, and make a single compensating transaction
> dated prior to all other transactions. Either give it no category,
> or make an adjustment category.
>
>> I
>>want to start Money out as of 1-1-06.
>
> While I know you have to start somewhere, perhaps a different time
> would be good too.
>
>

Cal
Wed Feb 15 19:37:14 CST 2006

In microsoft.public.money, Bob Gardner wrote:

>Thanks, Cal. I did the "adjustment" bit but thought there might be another
>way. Don't know how I would zero out the starting balance...seems to me that
>once you initiate the account and put in a starting balance you are stuck
>with it.

In the account list, right-click the account. Choose
setting/details, and you will find the starting balance among a lot
of other things you may find of use.

Chris
Wed Feb 15 20:11:03 CST 2006

"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
news:3bi7v11fpc0rnrg41q8r683dnh4ea3740f@4ax.com...
>
> The first thing I would do is to zero the starting balance for the
> account. After you have entered all of the past transactions that
> you care to, I would note the balance of the register. Subtract that
> from the "known" balance, and make a single compensating transaction
> dated prior to all other transactions. Either give it no category,
> or make an adjustment category.

I concur with the advice, except don't enter a transaction in the register.
Instead, use the derived number as the starting balance. That also assumes
there are no outstanding transactions that have not been recorded.
--
Chris Cowles
Gainesville, FL