microsoft money probs

tanith

Hi I bought 2005 MSmoney to help me keep track of my acc.. I have got the Nationwide acc to update but A & L acc don't seem to download .. Just want someone to confirm that I have to download the statements and then convert them? will money automatically pick them up from my files ?

Bought this to help me but now I have a bigger headache than I had before I started ............ DUH!!!!

Debt_Free_Chick

Whether you can download statements direct from your online account to Money, depends on what features the bank offers. You'll need to have a look at the A&L Account help section to see if it offers this feature.

however, just a word about downloading transactions into Money ... if you do this, you reduce the chance of spotting an error or a fraudulent transaction. Essentially, you are telling Money simply to accept everything that the bank has recorded on your account.

Far better to enter your transactions into Money and then reconcile or balance it against your statement every monthy. That way, if you have an entry on your statement but no matching transaction in Money, you know you have some investigating to do.

HTH

Seamus

Have to agree with Debt_Free_Chick.

I've used MS Money for about 8 years and have always entered my transactions manually. In that time I've spotted numerous dodgy transactions when reconciling with paper statement from bank/credit card. If you download the transactions then you are far less likely to spot dodgy ones.

Also, when you enter transactions manually you can assign them categories and sub-categories that are really helpful when budgeting.

windym_2

I agree with debt-free-chick and seamus. I have used Money for years and before that Quicken, the whole idea of manual input means you can reconcile and know what is what.

imsi

Is it possible to convert data on a spreadsheet onto MSmoney as transactions?
My Abbey Business A/C only downloads statements as an excel (.csv) file.