Hi Cameron,

Here is how I think things might go as regards the accounting procedure.

While the purchase of your car can be regarded as expenditure, you have in
effect changed a monetary asset into a fixed asset. In other words your Net
Worth will not have changed. To facilitate the entries which need to be
passed three Accounts are involved, viz. the Current Account with your bank,
the Loan Account with the lender and an Asset Account entitled "Car Account"
or whatever you choose to call it.

The drawdown of the loan is effectively a Transfer entry between the Loan
Account and your Current Account. Thereafter the purchase of the car is
effectively a Transfer entry between your Current Account and the Car
Account. Nothing therefore, is recorded as categorised expenditure and
nothing will appear in the Income v Expenditure Report.

How you proceed hereafter is your choice. You have an asset recorded at
cost. However, the anticipated resale vale of the car starts to drop from
the minute you first turn the key and drive it away. This leads on to
depreciation, and since you are presumably not a business, you can choose
how to schedule this as suits you. If you follow this path you will have to
set up an Expense category called (say ) "Depreciation - Motor Car" and
whatever amounts by which you choose to depreciate on a periodic basis till
the asset is fully written down in value, will appear in your Income v
Expenditure Reports.

It is really up to you what course of action you choose to take. For what it
is worth when I bought a car I passed entries as a transfer from by bank
account to my Car Account then wrote it down to $1. At least that way the
car is not over valued. When sold any over-depreciation can be written back.

I seem to have rambled on a bit but I hope this may be of some assistance.

AJM


"Cameron Olsen" <cameron.olsen[at]gmail.com> wrote in message
news:8d49b43d.0504111047.324d5f77[at]posting.google.com...
- quote -

Sure sounds like a Transfer followed by an expense (Automobile:Payments?) to
me. Maybe I'm missing something, but I'm not sure what you are trying to
hide here that isn't a real life transaction.

"Cameron Olsen" <cameron.olsen[at]gmail.com> wrote in message
news:8d49b43d.0504111047.324d5f77[at]posting.google.com...
- quote -

I had a personal loan drawdown that went through my main current
account and then I bought a car with this amount.

Can anyone advise how I can get Money to "ignore" the transaction as
the expense is fairly large and skews my reports OR should I just
delete the transactions?

Thanks!

Cameron