Loan dispursement check category?

#3 07-16-2005, 02:28 PM

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:8r4hd1httbn9misdl14nosgfaumu33i3f2[at]4ax.com...
- quote -

> In microsoft.public.money, Jeff P wrote:
> > > Obviously the loan dispursement check is a transfer from the loan account
> > to
> > the checking account, but Microsoft Money doesn't allow this for some
> > reason. So, I have to record the deposit as a non-transfer category. For
> > lack of a better spot, I guess I can just record this as a split category
> > to
> > add the application processing fee in as though it were part of the
> > initial
> > loan dispursement, and then subtract it off by assigning the split amount
> > to
> > an expense category for the fee. But what income or expense category do I
> > assign for the overall loan dispursement amount? Obviously it is not
> > income,
> > and it is not an expense. So what should I do, create an income category
> > called "Stupidly Not Income" and leave it there?!
> To work around having the deposit being interpreted as income, enter
> the transaction without a category. Describe in the Memo what it is.

We just figured out how to record the loan dispursement as a transfer from
the actual loan account in the other thred that discusses this. See the
thred "Hod do I get proceeds from loan into bank so I can spend it".

Basically, setup a $0.00 loan, then record a negative extra payment for the
dispursement check. I like this much better than the uncategorized "income",
or Xfer from Deleted Acct, or some other "category" for what obviously is a
transfer.

-Jeff

#2 07-16-2005, 04:57 AM

In microsoft.public.money, Jeff P wrote:

- quote -

> Obviously the loan dispursement check is a transfer from the loan account to
> the checking account, but Microsoft Money doesn't allow this for some
> reason. So, I have to record the deposit as a non-transfer category. For
> lack of a better spot, I guess I can just record this as a split category to
> add the application processing fee in as though it were part of the initial
> loan dispursement, and then subtract it off by assigning the split amount to
> an expense category for the fee. But what income or expense category do I
> assign for the overall loan dispursement amount? Obviously it is not income,
> and it is not an expense. So what should I do, create an income category
> called "Stupidly Not Income" and leave it there?!

To work around having the deposit being interpreted as income, enter
the transaction without a category. Describe in the Memo what it is.

#1 07-16-2005, 01:50 AM

"Richard Bollar" <bollar[at]bollar.org> wrote in message
news:ukOafKaiFHA.3448[at]TK2MSFTNGP10.phx.gbl...
- quote -

> Unless you're using the small business edition, I suggest that you enter
> the disbursement without a category at all. It's not income or expense

Maybe you're right. I was just looking through the entire list though and
Xfer from Deleted Account caught my eye. I didn't delete the account, but
Microsoft Money deleted the dispursement check from the loan when it was
setup. What do you think of this? Would it cause any problems later?

The only reason I don't want to use "uncategorized transaction" is because
there's some older transactions I've been meaning to categorize which I
occasionally work through and waste time on. I use a report that finds all
the uncategorized transactions across all the accounts which I use to do
this, and gradually nibble away at it.

-Jeff

07-16-2005, 01:06 AM

Unless you're using the small business edition, I suggest that you enter the
disbursement without a category at all. It's not income or expense

--

"Jeff P" <jeffpNO[at]SPAMruralramp.net> wrote in message
news:11dgmrlen56hgda[at]corp.supernews.com...
- quote -

> I took out an unsecured loan, which has a fixed interest rate and fixed
> term length. I can enter all of the details into Microsoft Money, and
> unlike my mortgage it actually calculates everything out DOWN TO THE PENNY.
> (I was excited by this.)
> Now my question is... Where do I put the dispursement check and the loan's
> application processing fee? The processing fee was deducted from my
> dispursement check before I received it. The check was then deposited into
> my checking account.
> Obviously the loan dispursement check is a transfer from the loan account
> to the checking account, but Microsoft Money doesn't allow this for some
> reason. So, I have to record the deposit as a non-transfer category. For
> lack of a better spot, I guess I can just record this as a split category
> to add the application processing fee in as though it were part of the
> initial loan dispursement, and then subtract it off by assigning the split
> amount to an expense category for the fee. But what income or expense
> category do I assign for the overall loan dispursement amount? Obviously
> it is not income, and it is not an expense. So what should I do, create an
> income category called "Stupidly Not Income" and leave it there?!
> -Jeff

#-1 07-16-2005, 12:57 AM

I took out an unsecured loan, which has a fixed interest rate and fixed term
length. I can enter all of the details into Microsoft Money, and unlike my
mortgage it actually calculates everything out DOWN TO THE PENNY. (I was
excited by this.)

Now my question is... Where do I put the dispursement check and the loan's
application processing fee? The processing fee was deducted from my
dispursement check before I received it. The check was then deposited into
my checking account.

Obviously the loan dispursement check is a transfer from the loan account to
the checking account, but Microsoft Money doesn't allow this for some
reason. So, I have to record the deposit as a non-transfer category. For
lack of a better spot, I guess I can just record this as a split category to
add the application processing fee in as though it were part of the initial
loan dispursement, and then subtract it off by assigning the split amount to
an expense category for the fee. But what income or expense category do I
assign for the overall loan dispursement amount? Obviously it is not income,
and it is not an expense. So what should I do, create an income category
called "Stupidly Not Income" and leave it there?!

-Jeff

Similar Threads
Thread	Forum	Replies	Last Post
No Loan Payment Category SteveF: I'm trying to use the special 'loan payment' category, but it doesn't seem to exist for me in MS Money 2005. I tried typing it in on a loan payment...	Microsoft Money	2	04-07-2005 10:27 AM
Can I set up a car loan to replace past category entries? Eric: I originally had set up a zero interest car loan payment by just creating a category and sub-category. Now I would like to replace all the past...	Microsoft Money	5	03-11-2005 03:49 PM
Check Register Category Dissappeared!!!! shokat: I recently installed M05, then made a few mistakes and decided to uninstal and reinstall and start fresh. When I reinstalled and I went to assign...	Microsoft Money	4	12-28-2004 12:06 AM
Scheduled bills from loan going past term of loan Bryan: Hope someone can help with this: I have an automobile loan in Money 2000 that I have set up as a monthly recurring bill. This loan will be paid...	Microsoft Money	6	02-11-2004 02:13 PM

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode