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Old 07-18-2003, 06:02 AM
Joe Coplen
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Default Do I need to double-enter my BofA online banking transactions?

If you synchronize your accounts with MSN Money, you can
go to MSN Money and create MSN Money accounts for the
ones you want to download into Money. Use the "link MSN
Money and Money accounts" option to associate them. MSN
Money will periodically go to BofA and download
transactions, and when you opt to synchronize Money with
MSN Money they'll be propagated to Money automatically as
if BofA supported direct banking (which BofA assured me
in a conversation that they never will).

Before you do anything with BofA, however, you should go
into Money and check the "Show standardized payee names
for which a name match is not found" option on the Online
Services tab. Because BofA is stupid and puts
transaction data in the payee field (most are formatted
like "PURCHASE ############## ON mm/dd AT <payee name> ")
which makes every payee downloaded unique and generally
unmatchable using the payee name otherwise.

Whether or not you enter transactions into Money first
and then download and import a statement is up to you.
With BofA's interesting ideas of what a payee should be
and the imported payee field is limited to 32 characters,
a lot of times you'll probably find yourself scratching
your head trying to figure out what cryptic payees
like "Purchase On At Cn L" were and I found it helpful to
enter the transactions beforehand because it gave Money
something to match up with.

Good luck. -J

- quote -

> -----Original Message-----
> I use Bank of America's online banking, and am a new
Money user. Is
> my best bet to enter the transactions into online
banking, then enter
> them again into Money, then let them balance later? Or
is there a way
> to somehow enter them in Money and then synchronize, or
some other
> option I don't know about?
> Thanks for any help,
> Matt.
  #-1  
Old 07-17-2003, 07:26 PM
Matt Lewis
Guest
 
Posts: n/a
Default Do I need to double-enter my BofA online banking transactions?

I use Bank of America's online banking, and am a new Money user. Is
my best bet to enter the transactions into online banking, then enter
them again into Money, then let them balance later? Or is there a way
to somehow enter them in Money and then synchronize, or some other
option I don't know about?

Thanks for any help,
Matt.
 

Tags
banking, bofa, doubleenter, online, transactions


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