"Jeff P" <jeffpNO[at]SPAMruralramp.net> wrote in message
news:11dhvoutmckedb1[at]corp.supernews.com...
- quote -

Oops. I guess I was suppose to be recording that as an "Extra Payment"
instead of an "Other". Now it is working. (And yes, I misspelled principal
in the newsgroup but I was typing it correctly in Money.)

Now how do I enter a processing fee charged by the lender for initiating the
loan? They deducted this from my dispursement check but I am unable to enter
a split category because the split button is greyed out on princpal
transfers.

-Jeff

"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:uDsVl0qbFHA.3620[at]TK2MSFTNGP09.phx.gbl...
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I tried what is described on the last paragraph of the FAQ:

"An alternate way to account for the principal received follows a more
elaborate technique outlined by Chris Cowles: setup a loan account with no
balance but using the appropriate information for all else and letting Money
calculate the ($0) payment. Then you enter a "Principal Transfer" of the
balance in the loan account register to the settlement account. (You will
have to type "principal transfer" as the drop-/pull-downs will not offer
it.) Tomorrow (or roll the clock forward by a day for a moment--Money
refuses to let you do this any other way), you can go to the loan Details
and select Change Loan Terms and go in and set the balance. This will cause
the account details to show the amount as $0, but the balance will be
correct after the transfer. The interest charged may be off by a day's
worth; I have not checked this."

However, whenever I attempt to type "principle transfer" as a category of
transaction in the loan account, Microsoft Money pops up and says "principal
transfer is unavailable for loan accounts". (?? What else would it be used
for??)

Any ideas?

-Jeff

Enter it in the other account as an expense.

"Jeff P" <jeffpNO[at]SPAMruralramp.net> wrote in message
news:11di0d1in2k8f6b[at]corp.supernews.com...
- quote -

Did you try just a Transfer instead? That might work.

Here's a counter-intuitive process:

In the account receiving the money, enter a Loan Payment to the Loan Account
that you are "borrowing" the money from. Edit its split to remove the
Interest component and then edit the Principal Transfer amount to a negative
number in the amount of the loan. Note: I haven't actually tried this, I'm
speculating it might work.

Money sure tries to make this harder than it need to be.

Let us know how either of these work and I'll try to remember to update the
FAQ answer accordingly.

"Jeff P" <jeffpNO[at]SPAMruralramp.net> wrote in message
news:11dhvoutmckedb1[at]corp.supernews.com...
- quote -

Glad I could help. Thanks for the feedback. If you need more help getting
your loan transactions sorted out, be sure and post back.

"Barbet" <Barbet[at]discussions.microsoft.com> wrote in message
news:4D392FA4-2A5C-4804-8A72-D1206AD80BFA[at]microsoft.com...
- quote -

Thank you Dick Watson, I have read and will study your FAQ and work my way
through the proceedure. I also read the "2005 disclaimer" I agree it is
very hard to keep it from running to the net. I finally told my firewall not
to allow it. I give permission when I need 'help'. (most often useless, such
as how to do loans!). I upgraded from 02, figuring not to let it get too
old. I'll be keeping my eye peeled for alternative record keeping.

"Dick Watson" wrote:

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Sadly, Money makes it very difficult to track the money flow at loan account
origination. See http://umpmfaq.info/faqdb.php?q=86 for some thoughts. I
know that's a mortgage refi question, but the problem and solutions for an
auto loan are exactly the same.

"Barbet" <Barbet[at]discussions.microsoft.com> wrote in message
news:0BAE4529-19A4-4CD2-A56A-3DCBA956481D[at]microsoft.com...
- quote -

Using Money Deluxe 2005 and XP Pro.
I followed the prompts to set up a loan and how to pay it off. But I cannot
figure out how to get the money into our bank account. Should the loan have
been set up zero amount then transfer the amount to bank account?

Also would whatever proceedure is recommended work on a loan that is
replaced with another loan (refinancing). This is auto loan, not home
mortgage