I guess I'm not yet convinced you have a problem.

In the register for a loan account (Money 2004--my Money 2006 test machine
is asleep this morning) I see three columns with amounts: Payment,
Principal, and Balance. From what the loan payment reports split to and
assuming an previous balance in the loan account of $200000, I'd expect to
see Payment: $3000, Principal $0, Balance: $200000.

What do you see? Is the balance going down by $0 or $3000?

I forget if we clarified: Essential Register or Advanced???

"Michael" <Michael[at]discussions.microsoft.com> wrote in message
news4686A73-68EC-435D-8FDF-0DA4D3824115[at]microsoft.com...
- quote -

Dick,

This is a Interest Only Loan and therefore the Principal payment is $0,
Interest is $2000 and escrow is $1000.

The details of the transaction seems to show the correct split. It shows:
Principal Transfer: $0
Loan: Interest: $2000
Escrow Transfer: $1000

However the LOAN Account shows $3000
Escrow Accounts shows: $1000 gain

any good ideas how i should set this up ?

Thanks.


"Dick Watson" wrote:

- quote -

I guess I'd be a lot happier assuming something like loan payment is $3000,
escrow is $1000, interest is $1800 and principal transfer is $200.

Look in the Details of the transaction in the account making the
payment--where the loan payment transaction is entered. What do you see?
(You should see my hypothetical $3000 loan payment decompose into three
elements Principal Transfer:[name of loan account] $200, [your Money loan
account setup specified interest expense category] $1800, Transfer:[name of
your escrow account] $1000.) Does the transaction balance? (I.e., do the
elements shown in the Details add up to the total amount of the "payment"
from your cash account?

My stance on downloaded transaction data is widely known and oft quoted: all
bets are off if it's involved. I don't do downloaded transaction data. Every
day I read postings here that remind me why.

"Michael" <Michael[at]discussions.microsoft.com> wrote in message
news:6DCB37E5-C5EA-4899-8698-BEF38DDAEB65[at]microsoft.com...
- quote -

Dick, maybe you can help me with the following:

Using Money 2006.

I have set up a home loan (used "Other fee's section to transfer to Escrow)
and also an escrow account. Loan payment includes Interest + Escrow. One the
transaction is downloaded from the bank I use "LOAN PAYMENT" category. Assume
monthy payment is $3000 ($2000 interest and $1000 escrow).

I do see that Escrow account get's increased by $1000 however the Mortgage
Loan is also see's $3000 (I would expect that the Loan Account will see only
$2000). So now the amount left on the loan is not calculated properly.

Any ideas why the Loan showing $3000 instead of $2000 ?

Any help appreciated.

Michael.



"Dick Watson" wrote:

- quote -

"Mike Hansen" <MikeHansen[at]discussions.microsoft.com> wrote in message
news:9CB86120-4666-4EDE-8D4F-D040EE4A9DA6[at]microsoft.com...
- quote -

If the account is uniquely named (ie, does not correspond to a similarly
named category), you should be able to simply type in Escrow and achieve the
desired result.

thanks Pete and Chris. I think it works now. I have to manually type
"transfer: escrow" for it to work. It does seem like a bug since you can't
get a drop down selection for this transfer. If I try "Transfer to:" it
thinks I'm creating a new category. But after I have entered "Transfer:
Escrow", and then go back later to the 'Other Fees...' part of my home loan
account, it reads "Transfer To: Escrow"

go figure...

"Chris Cowles" <NoSpam[at]For.me> writes:
- quote -

I've run into a similar issue in Money 2003. My Asset account that I
set up for my mortgage escrow didn't show up in the list of categories
for my mortgage split. I just typed in the name of my account there
anyway, and it seems to work and do the transfer just fine. It just
looks like a peculiar bug to me. Maybe they fixed it by Money 2006.

--
Peter C.

"Mike Hansen" <MikeHansen[at]discussions.microsoft.com> wrote in message
news:ACFD226D-385B-46FA-963A-0840D1BBF523[at]microsoft.com...
- quote -

Transfer is a special category. Type in "Transfer to:" then type the name of
the escrow account that you would like it to be. You apparently have not
created the account yet. When you type it in, then tab to another field, a
new account wizard should pop up. 2004 is not different from 2006 in this
regard, to my recollection.
--
Chris Cowles
Gainesville, FL

Chris,
I'm still stuck...

- quote -

I did all this (bear in mind I have 2004 Deluxe NOT 2006). But I can't
"Transfer to: X" Meaning this isn't a selectable option. Creating a new
account is not an option. This is a category column so I can only select
categories NOT transfer to other accounts. The categories are
Income/Expense/Special. Does it fall under a Special category? If so there
are only 3 listed - 2 are credit card payments and 1 is transfer to Home
Loan. None of these would make sense to use. Any more help?

Mike
- quote -

"Mike Hansen" <MikeHansen[at]discussions.microsoft.com> wrote in message
news:3938B220-F4E7-49AA-98E2-E32F2615D731[at]microsoft.com...
- quote -

Please quote a piece of what you're replying to so we know what instructions
you're following.

To accomplish what you want to do, go to your loan account, select 'change
account settings' in the left pane (Money 2006), then Change Loan Terms.
When the wizard pops up, select 'Other fees'. Click the 'Other fees' button
when you see it, then edit the register to "Transfer to: X". If account X
does not already exist, create it as a bank account.
--
Chris Cowles
Gainesville, FL

I have Money 2004 deluxe. I setup a home loan account and make payments to
this account monthly. Currently the monthly payment to the mortgage company
is split among 3 categories:
Principal Transfer: Home Loan
Loan: Mortgage Interest
Loan: Escrow

I realize now this is a bad way to do it. I followed the steps you gave for
Dave for doing Escrow. I set up the new Escrow account as per the web page
instructions. But now I can't get the payment category to select Transfer:
Escrow. It doesn't show it as an option. I'd like the monthly payments to
be:
Principal Transfer: Home Loan
Loan: Mortgage Interest
Transfer: Escrow
How come money won't let me transfer this way? It seems I can do it by
doing two montly payments per month - first as P+I payment; second as escrow
transfer. Is this the only way it can be done???
thanks - Mike

Sounds good to me.

"Dave 1029" <Dave1029[at]discussions.microsoft.com> wrote in message
news:F5F30C2B-57E6-46E7-A69B-5DA558AB3123[at]microsoft.com...
- quote -

I set up a category, but now realize I should have set it up as an account. I
assume I could set up an account adjust the cash amount to my current balance
then disburse from this account, unless you know of a better solution.
Thamks for your input.

"Dave 1029" wrote:

- quote -

Did you setup an escrow Category or an escrow Account? The latter makes this
a whole lot easier.

See http://umpmfaq.info/faqdb.php?q=94.

"Dave 1029" <Dave1029[at]discussions.microsoft.com> wrote in message
news:84317201-1768-4ECB-96D5-701500932E5E[at]microsoft.com...
- quote -

I have set up escrow category associated with my home mortgage. My bank has
notified me they distributed funds and I am attempting to transfer funds from
the escrow category to the proper insurance or tax account. Hope someone is
able to help me.
--
Dave 1029