[moneydance] Do online transactions expire if not downloaded?

[Edward Reid]

At 00:07 04/24/07 -0500, Fuzzy Fox wrote:
>There are two schools of thought on this subject:

Excellent discussion of the competing schools of thought. I would however 
add a third, to which naturally I belong:

3. Mistakes happen. Fraud happens. More checks and balances are good up to 
the point that the cost exceeds the benefit.

So I enter transactions manually, but I also go through the process of 
checking individual transactions to reconcile. Mostly of course I find my 
own errors and omissions. I *have* found bank errors, though rarely -- not 
long ago US Bank was giving my bank a transaction ID proving that I'd paid 
my bill on time, and then charging me a late fee, BOO HISS! I've found 
erroneous transactions -- mostly back in the days when charges were done on 
paper. Recently a car rental place tried to charge me for gas even though 
I'd reported the gas gauge malfunctioning; I called and they reversed the 
charge. Most critically, a couple of years ago several outright fraudulent 
transactions appeared on a card, and obviously weren't going to stop until 
I changed the card number.

I don't download transactions, though I do download some statements as 
PDFs. The extra checks of downloaded transactions would provide additional 
redundancy, but I haven't been convinced that it's worth the effort for me. 
That's where I've calculated the balance point for now. The balance point 
has changed in the past (it moved from paper check registers to electronic) 
and will probably change again before I die.

Edward
-- 
Art works by Melynda Reid: http://paleo.org