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#2
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| Thank you both for the information. I was ready to just scrap this program and go back to the 2001 version of Quickbooks I was using, but it looks like Money 2006 will do what I want and also offer some extras that will help me keep my financial goals in line. Thanks again! |
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#1
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| In microsoft.public.money, Tracy wrote: - quote - > I just purchased Money 2006 and have a some questions that I couldn't get > answered through Help. > I would like to be able to enter checks, debits and ATMs as they occur. It > typically takes my bank about 2-3 days to clear the transaction before it > could be automatically updated in Money, assuming the person I write the > check to deposits it immediately. Essentially, I'd like Money to take the > place of my checkbook register. Is there a way to enter everyday > transactions manually? Tools-> Settings-> AccountSettings(global)-> DisplayAllAccountsInTheAdvancedAccountRegister will make sure all of your registers are "advanced". You can enter your transactions into the register which is available from the Account List (Banking-> AccountList). - quote - > My other issue is how does Money know how to classify
It depends on how detailed you want to be. But at this stage, the> the transactions it downloads from my bank? For example, I may buy milk and > bread (grocery) or gas (auto) at 7-Eleven. Will I have to go back through > any transactions that are downloaded from the bank to be sure they go to the > correct category? answer would seem to be yes. In fact, many of your categories ("classification" is something different in Money that you will not want to use at this point) may be "split", which lets you break that 7-Eleven purchase into various categories. Later you may tend to be less detailed, and just categorize that transaction as whatever you spent the most on, or maybe just categorize it as "misc". - quote - > Last, is there any type of online tutorial or step-by-step guides to help a http://www.microsoft.com/money/suppo...rt_manual.mspx may have> beginner learn the program? some things of interest. |
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| Answers below. "Tracy" <Tracy[at]discussions.microsoft.com> wrote in message news:AE1FD49A-76D6-49DE-8569-E24C2209B9CC[at]microsoft.com... - quote - > I would like to be able to enter checks, debits and ATMs as they occur.
Before there was Transaction Download, there was manual data entry. It'sIt > typically takes my bank about 2-3 days to clear the transaction before it > could be automatically updated in Money, assuming the person I write the > check to deposits it immediately. Essentially, I'd like Money to take the > place of my checkbook register. Is there a way to enter everyday > transactions manually? still there. You just go to a register, click on the next transaction field, and enter your data. I never do anything else and I've entered data in every version of Money since Mv2. That tens of thousands of transactions by now. - quote - > My other issue is how does Money know how to classify
Money attempts to associate Payee names in the downloaded data with either> the transactions it downloads from my bank? For example, I may buy milk and > bread (grocery) or gas (auto) at 7-Eleven. Will I have to go back through > any transactions that are downloaded from the bank to be sure they go to the > correct category? what it thinks you'd buy at that payee (XYZ's Grille will probably associate Grille with Dining Out) or with how you categorized your last purchase at that Payee. You cite the classic example where this doesn't work and where Money is bound to screw it up. One trip to 7-Eleven you buy Automobile:Gasoline. The next time you buy Food:Groceries. The time after that you buy some Automobile:Gasoline and some Food ining Out. Since Moneyis only making a guess, it can't hope to get this right. Your remaining choices are a) to not worry it, b) to edit the download transaction before accepting it into the register, or c) to just enter the transaction by hand in the first place. I opt for the latter in all cases. Many other posters here think I'm nuts and opt for one of the other two choices. YMMV. For new users, I recommend starting with manual transaction entry. Get to the point where you understand how Money transactions work. Don't mess with downloaded transactions, and all of the problems they can cause and because of issues just like this, until you understand how Money transactions work and what information in transactions does for things like Money reports and so forth. Many other posters here think this advice is stupid. YMMV. - quote - > Last, is there any type of online tutorial or step-by-step guides to help
Prior versions had more than is there today. That seems backwards, but therea > beginner learn the program? it is. There is a new Money 2006 book in the "For Dummies" series. http://www.amazon.com/gp/product/076...books&v=glance I can't speak for how good it is, but the subject is clearly more straightforward than, say, Asynchronous Transfer Mode Telecommunications Protocols for Dummies or some of their other titles. |
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#-1
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| I just purchased Money 2006 and have a some questions that I couldn't get answered through Help. I would like to be able to enter checks, debits and ATMs as they occur. It typically takes my bank about 2-3 days to clear the transaction before it could be automatically updated in Money, assuming the person I write the check to deposits it immediately. Essentially, I'd like Money to take the place of my checkbook register. Is there a way to enter everyday transactions manually? My other issue is how does Money know how to classify the transactions it downloads from my bank? For example, I may buy milk and bread (grocery) or gas (auto) at 7-Eleven. Will I have to go back through any transactions that are downloaded from the bank to be sure they go to the correct category? Last, is there any type of online tutorial or step-by-step guides to help a beginner learn the program? Thanks in advance! |
| Tags |
| basics, money |
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