help with microsoft money please?

mrs_baggins

apologies if this is in the wrong place.

I didnt realise until yesterday that I had microsoft money at home so I was having a play about with it last night. I am going to library today to see if they have a book that can help . All i did (tried) to do last night was to import my bank account. I went to my online bank and imported it via instructions and all tranactions were there but the end balance was way out .In the end I tried to balance the account and ended up putting in an adjustment to make it balance according to my bank. I have anothe account to do tonight but is there a different way of doing it?

Debt_Free_Chick

You have to enter an opening balance.

From the beginning ....

Set up a new account, follow the wizard and enter all the relevant details. It will ask you if you have an opening balance to enter. Enter the balance from your most recent bank statement. You now have an account which is balanced to the last statement.

Then add all the transactions since the last statement. It really is best to enter these as you spend money and not simply import them from your online statement. This way, you can spot any fraudulent, duplicate or incorrect transactions.

When you get your next paper statement, you then "balance" the account. Money will show the closing balance from your last statement and you add the closing balance from the current statement. You then go through each transaction and tick it off if it appears on the current statement. When you've ticked all the transactions, you will have balanced your Money account to your current statement.

Suggest you continue to play around with this current Money file. You can always create a new one when you're ready.

I think the best way to learn about MS Money is simply to play with it. Try something out and see what happens.

HTH

mrs_baggins

I think thats where I was going wrong then. I was looking at my online ending balance and not my paper one. I got it to be right in the end but after a while. Will have a go later with my other one.