Re: Newbie Problem With econcile

#1 04-11-2007, 04:31 PM

Wayne,

Also check you starting balance, (go the the account seiting for XYZ Bank)
normally this would be zero. If not wite the number down and change it to
zero. If this fixes the balancing problem, there you go. If not change the
number back and try Cal's idea.

Cindy

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:83tp1358t0mm78p8nanuvlcptbj988vhkc[at]4ax.com...
- quote -

> In microsoft.public.money, Wayne Wengert wrote:
> > Thanks for the response but how do I get Money to let me use the correct
> > Opening Balance. When I enter the correct balance it replace that when I
> > coninue?
> If you mean that you insist on entering the value that you want into
> to box, I would not want to imply that engaging in that course of
> action would be useful to you. Maybe it would be, and if so,
> somebody else might know how that is going to work for you.
> Whichever way you do it, I would keep an extra copy/backup of your
> file so that you could undo something. If you are intent on that
> action, read no further in this post.
> The balancing paradigm is that you receive a statement that covers
> a period of time, or at least it covers a set of transactions not
> covered by other statements. The transactions covered by previous
> statements should have been marked as balanced before starting.
> The net sum of the reconciled transactions should match the
> starting balance.
> You may have already marked transactions that have been recognized
> by the statement issuer during the period of the statement as
> cleared. Those transactions covered by the statement that have not
> been marked as cleared should be will be marked as such during the
> balancing process.
> The opening balance is the algebraic sum of all Reconciled
> transactions. If you can recognize that the balance is correct at
> some point, it is possible to mark the previous transactions as
> balanced, and proceed from there. Or it is possible to mark previous
> transactions as balanced and make a single compensating transaction
> to replace the missing/incorrect transactions. Thereafter you could
> follow the normal procedures. Otherwise I would just pursue finding
> the missing or duplicated transactions.
> If you wish to start fresh and declare an account balanced, you can
> mark all entries balanced. Select to show only unreconciled
> transactions. Sort by date, and go to the oldest transaction.
> Hold down Cntl+Shift+M and let auto-repeat work thru the
> transactions until none are left showing. Then balance making the
> starting and ending balance match the known balance. Choose the
> balance date to be the day after your last transaction. This is
> not the normal procedure. It starts you with an amnesty for former
> balancing.
> Thereafter, follow the normal procedure.
> > > > "Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
> > news:26co139j3g9soe5ek72p77vpfg7plfpf76[at]4ax.com...
> > > In microsoft.public.money, Wayne Wengert wrote:
> > > > > > I tried to balance my checking account using Money 2007 Deluxe but it
> > > > will
> > > > not accept my "Opening Balance" and instead over-rides that with some
> > > > value
> > > > it decides I should use. That creates a $65,000.00 discrepency. How can
> > > > I
> > > > get Money to use the Opening Balance I specify? My Checking Account
> > > > egister
> > > > looks fine. This account was transferred from a Quicken account and has
> > > > over
> > > > 10 years of history.
> > > > > > > ===================Bonnie Synhorst said=======================
> > > |Balancing can be frustrating. .. My rule of thumb is to avoid
> > > |changing the starting statement balance that it asks for. If you
> > > |do this, it will try to make an adjustment that you may not have
> > > |needed to make (if you were balancing months out of order, for
> > > |instance). I recommend balancing month by month starting from the
> > > |earliest date after you are sure that nothing is marked with an R.
> > > |
> > > |Just remember, the opening balance it asks for is a calculation of
> > > |the opening account balance plus or minus any reconciled
> > > |transactions.
> > > ==========================================
> > > > >

04-11-2007, 03:03 PM

In microsoft.public.money, Wayne Wengert wrote:

- quote -

> Thanks for the response but how do I get Money to let me use the correct
> Opening Balance. When I enter the correct balance it replace that when I
> coninue?

If you mean that you insist on entering the value that you want into
to box, I would not want to imply that engaging in that course of
action would be useful to you. Maybe it would be, and if so,
somebody else might know how that is going to work for you.
Whichever way you do it, I would keep an extra copy/backup of your
file so that you could undo something. If you are intent on that
action, read no further in this post.

The balancing paradigm is that you receive a statement that covers
a period of time, or at least it covers a set of transactions not
covered by other statements. The transactions covered by previous
statements should have been marked as balanced before starting.
The net sum of the reconciled transactions should match the
starting balance.

You may have already marked transactions that have been recognized
by the statement issuer during the period of the statement as
cleared. Those transactions covered by the statement that have not
been marked as cleared should be will be marked as such during the
balancing process.

The opening balance is the algebraic sum of all Reconciled
transactions. If you can recognize that the balance is correct at
some point, it is possible to mark the previous transactions as
balanced, and proceed from there. Or it is possible to mark previous
transactions as balanced and make a single compensating transaction
to replace the missing/incorrect transactions. Thereafter you could
follow the normal procedures. Otherwise I would just pursue finding
the missing or duplicated transactions.

If you wish to start fresh and declare an account balanced, you can
mark all entries balanced. Select to show only unreconciled
transactions. Sort by date, and go to the oldest transaction.
Hold down Cntl+Shift+M and let auto-repeat work thru the
transactions until none are left showing. Then balance making the
starting and ending balance match the known balance. Choose the
balance date to be the day after your last transaction. This is
not the normal procedure. It starts you with an amnesty for former
balancing.

Thereafter, follow the normal procedure.

- quote -

> "Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
> news:26co139j3g9soe5ek72p77vpfg7plfpf76[at]4ax.com...
> > In microsoft.public.money, Wayne Wengert wrote:
> > > > I tried to balance my checking account using Money 2007 Deluxe but it will
> > > not accept my "Opening Balance" and instead over-rides that with some
> > > value
> > > it decides I should use. That creates a $65,000.00 discrepency. How can I
> > > get Money to use the Opening Balance I specify? My Checking Account
> > > egister
> > > looks fine. This account was transferred from a Quicken account and has
> > > over
> > > 10 years of history.
> > > > ===================Bonnie Synhorst said=======================
> > |Balancing can be frustrating. .. My rule of thumb is to avoid
> > |changing the starting statement balance that it asks for. If you
> > |do this, it will try to make an adjustment that you may not have
> > |needed to make (if you were balancing months out of order, for
> > |instance). I recommend balancing month by month starting from the
> > |earliest date after you are sure that nothing is marked with an R.
> > |
> > |Just remember, the opening balance it asks for is a calculation of
> > |the opening account balance plus or minus any reconciled
> > |transactions.
> > ==========================================
> >

#-1 04-11-2007, 02:13 PM

Thanks for the response but how do I get Money to let me use the correct
Opening Balance. When I enter the correct balance it replace that when I
coninue?

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:26co139j3g9soe5ek72p77vpfg7plfpf76[at]4ax.com...
- quote -

> In microsoft.public.money, Wayne Wengert wrote:
> > I tried to balance my checking account using Money 2007 Deluxe but it will
> > not accept my "Opening Balance" and instead over-rides that with some
> > value
> > it decides I should use. That creates a $65,000.00 discrepency. How can I
> > get Money to use the Opening Balance I specify? My Checking Account
> > egister
> > looks fine. This account was transferred from a Quicken account and has
> > over
> > 10 years of history.
> ===================Bonnie Synhorst said=======================
> |Balancing can be frustrating. .. My rule of thumb is to avoid
> |changing the starting statement balance that it asks for. If you
> |do this, it will try to make an adjustment that you may not have
> |needed to make (if you were balancing months out of order, for
> |instance). I recommend balancing month by month starting from the
> |earliest date after you are sure that nothing is marked with an R.
> |
> |Just remember, the opening balance it asks for is a calculation of
> |the opening account balance plus or minus any reconciled
> |transactions.
> ==========================================

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