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#1
07-19-2005, 07:50 PM
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 Re: Record home purchase q In microsoft.public.money, Bryan wrote: - quote - > I've just purchased a home and want to record it in Money04. http://umpmfaq.info/faqdb.php?cat=23> We added an asset account for the title company, to which we wrote checks. > Upon closing the loan funded, the title company money cleared. I've created > an asset for the house, linked to the loan no problem. Now I want to: > 1) clear out the Title Company Escrow asset > 2) Record the transaction expenses - quote - > This is easy with normal double entry accounting as everything is recorded
The missing piece may be to represent the loan proceeds with an> i.e. The loan funds would go to the asset, creating the loan liability & > everything upon closing has a place, but I can't see an easy way in Money. uncategorized deposit into the checking account. |
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07-19-2005, 07:47 PM
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| Re: Record home purchase q The following FAQ gives pretty complete instructions on one way to handle it: http://umpmfaq.info/faqdb.php?q=155 -- "Bryan" <Bryan[at]discussions.microsoft.com> wrote in message news:43598DAE-D0FE-4861-8360-3CACEC6BA09F[at]microsoft.com... - quote - > I've just purchased a home and want to record it in Money04. > We added an asset account for the title company, to which we wrote checks. > Upon closing the loan funded, the title company money cleared. I've > created > an asset for the house, linked to the loan no problem. Now I want to: > 1) clear out the Title Company Escrow asset > 2) Record the transaction expenses > This is easy with normal double entry accounting as everything is recorded > i.e. The loan funds would go to the asset, creating the loan liability & > everything upon closing has a place, but I can't see an easy way in Money. |
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#-1
07-19-2005, 07:41 PM
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| Record home purchase q I've just purchased a home and want to record it in Money04. We added an asset account for the title company, to which we wrote checks. Upon closing the loan funded, the title company money cleared. I've created an asset for the house, linked to the loan no problem. Now I want to: 1) clear out the Title Company Escrow asset 2) Record the transaction expenses This is easy with normal double entry accounting as everything is recorded i.e. The loan funds would go to the asset, creating the loan liability & everything upon closing has a place, but I can't see an easy way in Money. |
| Tags |
| home, purchase, record |
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