Money should be able to update the payment details for you if you know the
rate. On the left hand pane, select "Change account settings," and from
there click "update interest rate". Money will update the payment for you.

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"Stewart Johnson" <StewartJohnson[at]discussions.microsoft.com> wrote in
message news:65212C4D-D8D2-4063-9B74-CE87CF6954B2[at]microsoft.com...
- quote -

Thanks Richard.

It's a normal mortgage (variable rate, 30 year term, interest calculated
monthly) it just has this special offset account feature. Offset accounts are
very common here in Australia, I'm surprised that Money doesn't support them
natively.

So I guess my best approach would be to set up the mortgage as normal, and
then I'd have to manually update the principal/interest ratio of each payment
that we make. Is that the best approach?

Thanks,
Stewart

"Richard Bollar" wrote:

- quote -

Well, Money can't calculate the interest automatically. How to handle this
probably depends most on the amortization on the loan. If it's a fixed
duration loan, you could set it up as a variable rate mortage and update the
rate each month with your bank statement. If it's more complex than that, I
think setting it up as a line of credit would be best, but you'll have to
enter all payment details and splits by hand.

--

"Stewart Johnson" <Stewart Johnson[at]discussions.microsoft.com> wrote in
message news:20C1E03D-4E25-46DF-9F4D-5BDBD42E0592[at]microsoft.com...
- quote -

Hi --

I'm an existing Money 2003 customer, and I'm thinking about upgrading to
Money 2006. I've just taken out a mortgage to buy a house, and I'm looking to
track the mortgage with Money.

We have a setup where we have a mortgage with a large negative balance, and
we have another account called our "offset account" (it's a chequing
account). At the time of calculating our interest payment, the bank takes our
mortgage amount, reduces it by the total of our offset account, and then
calculates the interest on that. So it's kinda like the money in the offset
account is on the mortgage, except it isn't -- it's in our other account and
available to write cheques.

I can't find a way to use Money to track this setup, and searching for
"offset account" has been fruitless. Does anyone know how I can track and
offset account with Money?

Thanks,
Stewart