Would this be a good idea..?

[Nightowl]

I'm in the process of changing my banking provider and will be closing the accounts with my current one.

I do seem to have quite a few cancelled accounts (including loans and credit cards paid off) and a significant number of payees I'll never use again, so I was wondering if now would be a good time to start again, from scratch?

There aren't many transactions or payees yet, so I thought this would be a good time to do so.

Can you tell me what the pitfalls of doing this might be, please? I'm not over-concerned about keeping the old data, but I assume I can keep my last archive if I ever need to access it?

Also, is it possible to rune two databases 'side by side' until the existing accounts are fully consolidated?

Thank you.

[mthadm]

Hello,


There are few things to consider:

1) If you are planning to keep all your data on the desktop, you don't need to archive, delete or otherwise purge the data. MyMoney stores the data in a very rational way and given that the disk space and memory are very inexpensive this shouldn't factor into a decision - simply mark accounts as closed and open new ones. To give you an example - we maintain databases in the lab with 100's of thousands of transactions with no particular degradation in performance.

2) You can have as many databases as you want and maintain them side by side, there are no limitations of any kind including the file sizes, number of transactions, etc

3) If you are planning to have a database on the web and access it through MyMoney Live client then the size becomes consideration, as the data will be sent over the network connection which are inherently slow and may be subject to data caps. If this is the case then you may want to maintain a single active ledger and archive un-needed data at the end of the year. We are planning to add this functionality to the web version later on,


Thanks,

[Nightowl]

Smashing, thank you