"Scoop" <imscoop22[at]gmail.com> wrote in message
news:1138672884.508223.209560[at]g43g2000cwa.googlegroups.com...
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Make sure you edit the details of the subcategories to associate them with
the proper line on the tax forms.

Classify what works for you for reporting. Since the only thing Money does
with Classification is reporting, there is no one right answer besides this.

"Scoop" <imscoop22[at]gmail.com> wrote in message
news:1138667087.025162.65120[at]g14g2000cwa.googlegroups.com...
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In microsoft.public.money, Scoop wrote:

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At Accounts&Bills-> Categories&Payees-> TaxCategories you can
associate categories with schedule E lines.

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I don't, but that does not mean there is not a reason.

Thanks Cal. I actually created a set up categories/subs that match the
Schedule E items. It seems to work well. I guess I'll find out when I
sit down with an accountant.

Do you see any reason to Classify the transactions that are categorized
as transfers?

Thanks Chris. I will be consulting an accountant and I was fairly
certain I knew the answer. I actually have setup an account for the PM
transactions...I just wanted to make sure I understood it correctly and
wasn't missing something.

Any insight with the classification issue?

Thanks Chris. I will be consulting an accountant and I was fairly
certain I knew the answer. I actually have setup an account for the PM
transactions...I just wanted to make sure I understood it correctly and
wasn't missing something.

Any insight with the classification issue?

In microsoft.public.money, Scoop wrote:

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I don't think so. I called mine a bank account, but I don't remember
why.

This is the kind of thing where working with a copy of your file is
nice for experimentation.

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I would use the one account until you found yourself getting
confused as to why it has a balance when it should be $0 most of the
time.


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I don't know, but I would look at my schedule E from last time.
Model the item entry on that. Then look at associating categories in
Money to tax lines. This can even theoretically be exported to a
..txf file for import into Schedule E. You will probably want to
stick with having the accountant do your real schedule E however.
The depreciation is probably tricky. But having Money report on
paper what IT thinks goes on each tax line of schedule E could be
useful.

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"Scoop" <imscoop22[at]gmail.com> wrote in message
news:1138667087.025162.65120[at]g14g2000cwa.googlegroups.com...
- quote -

You need an professional accountant to advise you, but the gross rent is
your rental income. It is offset by expenses to result in net rental income.
You can categorize the deposits as split to record the details or, if your
property manager keeps a separate account in your name, create that account
and 'pay' the expense from it.
--
Chris Cowles
Gainesville, FL

I am using M04 and have generally avoided the issue of different dates
for related transactions (e.g. credit card payments where payments are
categorized as a transfer but the dates of the actual transactions are
different in the credit card and checking account). Usually I just
make a note in the memo field of the target account recording the date
the payment posted.

As I've gotten more accustomed to using Money and managing my finances
in general, I've decided that I want to use a suspense account to more
accurately reflect what is going on and have a record of the "transit"
period. I understand the concept and currently use similar accounts
for Health Care FSA's, etc. but I have a couple of questions:

Are there any notable differences between "Cash" Bank Accounts and
"Bank" Bank Accounts and does it matter which type is used as a
suspense account?

If I create an "In Transit" suspense account, is there any reason not
to use this one account for multiple "real" accounts (e.g. a couple of
different credit cards) or are there any circumstances where I would
want to use separate suspense accounts for different purposes?

I also have a question a/b Classification (sorry if this should be a
separate post). I am using Classification to manage a rental property
and it seems to be accomplishing exactly what I want for reporting,
etc. but I'm wondering exactly what I should be classifying. For
example, if I transfer money from one checking account to another to
pay a bill (I have a separate account for the rental), should I
classify the transfer? or should I follow the same basic rule as with
categories (i.e. only classify the end result - or the bill that was
paid)?

My last question is probably more of an accounting issue than a Money
issue but I'm sure someone here with better understanding can answer
it. With my rental property, I hire a Property Manager and they
receive the rent, subtract their management fee, and direct deposit the
remainder in my account. Should I categorize the full rent payment (as
received by the PM) as MY rental income, or only the money that I
actually see?

Thanks to anyone willing to read this and help me out!