That would be a good choice.

"Carolyn" <Carolyn[at]discussions.microsoft.com> wrote in message
news:ADB4481D-BA05-4F92-AB3A-E16BAF38F84C[at]microsoft.com...
- quote -

"Scott Tyler" wrote:

- quote -

Glad to hear it. Thanks very much.

Carolyn

"Dick Watson" wrote:

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Or, "Fudged Stuff" ?


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I saw that and plan to work with it tomorrow since we also just refinanced.

The Wizard lets you associate a loan with an asset; and that's just one of
the ways I tried in order to have my check category refer to a loan. But,
then I ended up with double the assets.

Thanks for your help.

Carolyn

"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:uAibUwATFHA.2304[at]tk2msftngp13.phx.gbl...

- quote -

I tried Chris' method when this thread was originally posted on 4-10-2005,
and it works for both kinds of loans. Due to the way Money handles loan
accounts, Money may throw a few monkey wrenches in the process of setting it
up. I was never able to get this to work in the past for lending, but I was
able to get it to work when this thread was posted. I didn't bother
posting, as the OP had already gone with Excel by the time I got it to work.

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Money won't prompt for an asset account when lending, but the account itself
will show up under assets in the "Net Worth" report. Unless one charges
interest or gets stiffed by the borrower, it ends up being net worth
neutral, and may not be worth the effort to get it to work.

--
Scott Tyler
agent_scotty-at-hotmail-dot-com

The easiest way is just to categorize it as some kind of an expense
("Miscellaneous:Loans Made" maybe?) and put a note in the memo field
referencing the Money Loan Account you should create. I agree it's not an
expense, but sometimes certain concessions must be made.

Unfortunately, Money has no easy way to tie cash in or out at a Loan Account
origination to a transfer account. There is a way to fake out a loan
(borrowing) from Chris Cowles as outlined in the mortgage refi UFAQ at
http://umpmfaq.info/faqdb.php?q=86. I'm not sure whether anybody has ever
tried this for a loan (lending).

When you go to Account List|Setup a new account, you can setup a Loan
account; one of the first questions asked by the wizard is if you are
borrowing or lending. I don't think I'd let it setup an asset account if it
asks. (Does it ask?) But the receivable is an Asset; maybe this could be
made to work? OTOH, the Loan (lending) account balance will show up as
positive in net worth and this gets back to your doubling up issue.

Newer versions of Money seem not to like Transfer:[name of loan account].
They do, however, like Loan Payment:[name of loan account] when you delete
the interest component and just leave the Principal Transfer component. I
can't say as I've ever tried this for a loan (lending).

"Carolyn" <Carolyn[at]discussions.microsoft.com> wrote in message
news:FDB914F5-4418-4BC6-A12D-3AF8C8437574[at]microsoft.com...
- quote -

When I write the check to lend money (an amortized loan with a Promissory
Note), how do I categorize it? It's not an income or expense item. And if I
try setting up the loan directly by "Transfer:Loan #1" I'm not getting a loan
wizard unless I first set up an asset account and then associate it to a new
loan account. However, this would create one credit and 2 debits. (Credit
checking $5,000, debit asset account (say, Notes Receivable) $5,000, debit
Loan #1 (also an asset account) $5,000.

Am I missing something here? I've searched Microsoft and the Net for an
answer. Can anyone help?