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Balance verification

Hi!


Occasionally I am faced with the problem of MoneyWiz account balance being different from the real balance (I am sure, every MW user experienced this at least once :)

I then try to locate the discrepancy source and sometimes this is a painstaking job, especially with the wallet account where I usually have no guaranteed verification (like bank report statements).


One of the problems I experience during the process is trying to remember when was the last time I was 100% sure that the balance was correct. To tackle this I have the following idea. What if you guys add a "verify balance" transaction? It should only contain two parameters: account and timestamp. If a user creates this "verify balance" transaction, he merely states for future possible discrepancy investigation that the balance is correct at the particular time moment.


I think that for now I could simulate this by using a special category and zero expense amount, but it's not cool :)


It would also be really nice if this verification would be automatically deleted if a user modifies (adds/removes/edits) transactions prior to its time. This seems to be totally logical (like breaking the seal). Of course, an alert "Are you sure?" would be appropriate for this case.





Hello Timur,

What about reconciling your accounts? You could then see the ticks at the transactions you've reconciled, thus confirming that the balance was correct up until this point. You can read more about reconciling here:

http://silverwiz.freshdesk.com/support/solutions/articles/211348-advanced-reconcile-on-mac-and-windows

(it describes advanced reconcile on Mac and Windows but it also has a paragraph on basic reconcile on mobile versions)

1 person likes this

Hello, Pawel!


Thanks for the answer. I've been using Reconcile mode several times while investigating inconsistencies and it proved to be very useful. I did not know though that "reconciled / not-reconciled" states persist through the database. Now I checked -- indeed, this information is saved and synced.


So thanks a lot! I will use this feature.

Sorry to hijack the thread, but I also keep getting the wrong balance on my MoneyWiz (compared to the real account). I've already tried adjusting the opening balance, but next time I open the app the balance is wrong again. Am I missing anything?

Gustavo,


Please contact us via e-mail at hello@moneywizapp.com so we can look into your issue and assist.

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