"Martin J. Hawks" <northern_lights31[at]yahoo.com> wrote in message
news:qc9Pf.790$422.99[at]fed1read10...
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Characterize it as a credit card. If adding a new account the account wizard
may ask if it's a 'charge' card. The only difference is the assumption of
being paid off at the end of the month. I assume that is the case? You can
always edit that on the account details page.

Use Special: Transfer to categorize deposits and payments.

You can edit the payees to "Deposit from LOC" and "Payment to LOC".
Technically, the generic description of "LOC" as a payee is correct. That's
who/what the transaction was to/from. But it's not real helpful if not clear
in the register. Call it whatever you want to make it clear to yourself.
--
Chris Cowles
Gainesville, FL

The LOC is some form of Liability Account. The Payee field always means from
or to without regard to type of transaction. Leave it blank, if you'd like.
You might also want to turn off Transaction Forms. They cause more confusion
than they solve.

Movements of money between the LOC and checking are Transfers. Interest
Expenses charged to the LOC are Expense.

"Martin J. Hawks" <northern_lights31[at]yahoo.com> wrote in message
news:qc9Pf.790$422.99[at]fed1read10...
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This is driving me nuts. What is the best way to set up a Line of Credit
(LOC) account? It is actually a $500 LOC account for my checking account
for when my checking account dips below $0. Both the checking account and
LOC accounts import separately into Money from my bank.

Should I set up the LOC as an account, a liability, or as "other". I tried
them but keep getting confused because depending on whether the LOC
automatically deposited money into my checking account or I transferred
money from my checking account to pay off my LOC, it will say either "From"
or "To" in the first field of the transaction form but the column heading
always says "Payee".

Also, is it better to categorize them as "Special: Transfer..." from one to
the other or should I categorize LOC deposits into my checking account as
income and payments from my checking account to the LOC as expenses?

I have Money 2006 Deluxe and am using the advanced register. Thanks!

Martin