What we recommend is to set up your scheduled transactions as usual, but in the options of such transaction please turn on "Auto-Skip" feature. Thus, when the payment date of such transaction comes it will be auto-skipped. After this, once you refresh your Online accounts, real transactions should be synced from your Online Banking. In this case you will keep the Forecasting possibility of MoneyWiz and avoid downloading duplicates to your account.
MoneyWiz tries to merge the duplicates it finds when importing transactions from Online Banking (no matter if those are Scheduled transactions or not) but there's only so much an algorithm can do which is why we recommend enabling auto-skip feature so that your regular transactions can simply be downloaded from Online Banking, like any other transaction.
Hi Pawel. I understand the need of a powerful algorithm in order to make things more automatic as possible, but what I am suggesting is "simply" a button over the scheduled transaction options to "merge" such transaction with a downloaded transaction in the desired account. In fact, what it would do is fill the downloaded transaction with all the information already filled in the scheduled transaction (like payee, category, etc). Only the amount value wouldn't be changed in this case by the scheduled transaction, because it may not be the same with the downloaded transaction (for example, in the cases that I forecast an amount to be spent in a scheduled transaction.
I believe this feature would be great and would give the dedelopment team guys more time to think in a intelligent algorithm for the future version of MW. What do you think?
Thank you for the idea!
In case you don't know the accurate amount in advance, you can leave the Amount field empty.
When the payment is due, MoneyWiz will ask you to fill out the amount field and process the payment. You will just need to calculate the amount due and fill it in.
As for merging, still we think the feature to auto-skip the transaction is helpful as it will keep the monitoring of expenses and the real transaction will be downloaded from the bank.
But one of the purposes of the scheduled transaction is to help you preview your expenses during the month. It would not make much sense leaving this field empty (at least in my case). And I don't want MW to ask me to put this amount if it will generate a duplicate transaction (once my other paid transaction was already downloaded through my bank account).
The auto-skip feature is a "workaround" in my opinion, when used with online downloaded transactions, once it does not fill anything in the downloaded transaction and I have to do all the work again. That's why my suggestion, even being sort of a workaround as well, helps much more than just auto-skipping.
Can I put that on the "feature request" section? :)
thank you for explaining your point of view!
yes, sure :)
I've just received a telephone bill which is due to come out of my account in about 2 weeks time. I'd like to see it in my account details grid (whatever the right name is for that view!) as an upcoming bill - a bit like MS Money would do with scheduled transactions (entering them x days in advance). I'd like to see the future balance of my account with upcoming bills included (and within the account details page rather than looking at a separate forecast).
I'd like to manually add it directly to the account details view but as I'm syncing with my online bank I cannot do this, unless I believe I add it as a scheduled transaction and then choose to pay it.
We then have the issue of having a dual entry when the amount actually gets synced back from my bank account.
From using MS Money (not syncing with my bank) for many many years and then moving to MoneyWiz with account syncing this is a step forwards but also a step backwards at the same time. I'm very tempted to cancel my subscription and just buy the app without the online banking integration - then I think I'll be able to get closer to how it worked in MS Money.
Maybe I'm using MoneyWiz all wrong. I'm very new to it after about 20 years or so of Quicken/MS Money.