[SOLVED] Balance Question - New User

[KristiB]

I'm a new user. I'm sorry if this is a dumb question, because I am probably missing something simple.

I imported my transactions from Microsoft Money going back to 2015. Right now, at the top of my account, it says:
Account Bal: $-99,500.47 Reconciled Bal: $-101,305.60 Diff: $1805.13

I guess it's adding up all my transactions over eight years because I have nowhere near $99,000+.

I would think the Account Bal number should be the actual balance of my bank account, and the Reconciled Bal should be the starting balance on my latest bank statement. Is that correct? If so, how can I make it happen?

[MartinArmstrong]

Hi and welcome to MMEX.

First of all, please make sure the transactions in the account are sorted by Date. If they are, there will be a upwards or downwards arrow in the header of the Date column.

If your transactions are not currently sorted by Date, then click on the header. If you click again, it reverses the sort order.

Now you have them sorted by date, what Balance figure is shown for the latest transaction in the list? Is it the same as the Account Bal shown above the list?

[KristiB]

Thanks for your response. Yes, it's sorted by date, and everything is still the same for balances.

[MartinArmstrong]

Which version of MMEX are you using?

I asked: "what Balance figure is shown for the latest transaction in the list? Is it the same as the Account Bal shown above the list?"

and you replied: "and everything is still the same for balances."

Are you saying that the Balance figure for the latest transaction in the list is the same as the balance at the top of the page?

[KristiB]

Sorry about that. Version 1.6.3 on Windows 11.

Yes. Last transaction balance shows the same as the account balance at the top of the screen.

[MartinArmstrong]

Yes. Last transaction balance shows the same as the account balance at the top of the screen.

In which case, MMEX is working correctly and it looks like your imported data is incorrect.

MMEX starts with the 'Initial Balance' of the account (check this via Accounts | Edit Account) and then adds each deposit and subtracts each withdrawal until it ends with the final Account Balance.

Right now, at the top of my account, it says:
Account Bal: $-99,500.47

I guess it's adding up all my transactions over eight years because I have nowhere near $99,000+

Yes, it adds/subtracts all the transactions as I explained above.

It is saying you have minus $99k in your account based on the Initial Balance and the transactions entered into MMEX.

I'd guess that you have imported your data from Microsoft Money incorrectly. Have you tried comparing the MS Money and MMEX balances at the end of the 1st month, the 2nd month... the 1st year, the 2nd year... etc?

At what point is there a discrepancy?

[KristiB]

Thank you so much. That was definitely the problem. There were some import errors -- some transactions were duplicated and there were a couple of other errors, too.

When I first imported from Microsoft Money, MMEX froze up at one point. When I re-imported, some things must have duplicated from what was already there (but not every single transaction). Whatever the case, I've got everything corrected and balances are showing correctly!

Thanks for your help!

[MartinArmstrong]

Glad you have it solved now.