Cheers Dick got it now sorry for the confusion it made things a lot clearer
now.


PS, As I have a MSM Guru on her can you advice me on this
I set up a couple of separate Asset Accounts for my vehicles I have been
adjusting the value of them over the years but I have sold them both on
Ebay. How do I close the account correctly to show I have sold it and it
does not mess up my financial settings??

Cheers sorry for being cheeky


Hi

I set up a couple of separate Asset Accounts for my vehicles I have been
adjusting the value of them over the years but I have sold them both on
Ebay. How do i close the account correctly to show i have sold it and it
does not mess up my settings??

Cheers Dale

"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:O4fbJitlGHA.3924[at]TK2MSFTNGP05.phx.gbl...
- quote -

Inline.....

"Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
newsp.tblskkem7umc8q[at]dale1.dalenetwork...
- quote -

AHA! We are talking about Transaction Forms. Accursed things.

Yes, Transfer.

- quote -

Yup.

[snipped]

- quote -

As I said. If I were doing that many, I'd have a Money account for it.

- quote -

Huh? I don't see anything below about Loan Payment:[name of loan account]
Special Category or Loan Payments Expense Category. I think what you are
doing is correct. To recap:

Accounting for by something for a friend who repays you using this method:
- Enter a transaction for the Expense in the account that incurred the
expense.
- Enter an identical Income (typically using an Expense Category) in the
"virtual receivables" account
- When repaid, Transfer the amount of the repayment from the "virtual
receivables" account to the account receiving the repayment.

[snipped]

Dick my reply Comments inline

On Fri, 23 Jun 2006 15:12:25 +0100, Dick Watson
<littlegreengecko[at]mind-enufalready-spring.com> wrote:

- quote -

Dick in the account you can Spend Recieve or Transfer!

So i am using Transfer to my Current Account that pays off my Credit Card/
- quote -

I have some 400 trasactions in my Paypal Account i used to put it in the
memo field but i sell and buy loads using PayPal so i set up an account.
- quote -

Loan s in the UK edition but i mentioned that was what i was doing i asked
if my method below was the correct way?
- quote -

Cheers Dale



--
Using Opera's revolutionary e-mail client: http://www.opera.com/mail/

"Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
newsp.tblqz2o17umc8q[at]dale1.dalenetwork...
- quote -

YES - and where appropriate, you could even use 'split transactions' .





- quote -

Comments inline.

"Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
newsp.tbloklii7umc8q[at]dale1.dalenetwork...
- quote -

What payee option?

- quote -

Which option? If you are talking about the name used in the Payee field, I'd
think you would want to use the Payee/Payor, as the case may be, as it is
much more informative. You always know you are the other side of that coin.
But you can put most anything in Payee and, unless downloading transaction
data or making online bill pays from Money is involved, it will make no
difference.

- quote -

Unless you have a Money account representing your PayPal account, I'd say #2
is irrelevant. People handle PayPal differnet ways. I just use them as a
Payee and put in the memo who PayPal was for. Others add an account in Money
representing the PayPal account. Seems redundant to me, but if either of us
used PayPal a lot more than we do, I can see doing it that way.

- quote -

The "category" Loan Payment is (US edition) a "Special Category" like
Transfer. Ther might be an Expense category like Loan Payments. It's another
way to confuse the special with the expense.

- quote -

That's what I was recommending.

Cheers Chris

So i simple terms what i am doing is correct?

On Fri, 23 Jun 2006 14:07:07 +0100, Christopher <nospam[at]whatever.comwrote:

- quote -



--
Using Opera's revolutionary e-mail client: http://www.opera.com/mail/

Dick

Thank you for your swift reply but my Money 2005 UK must be different in
relation to #3 because however i pay i don't get Payee option!. I used the
transfer option to and put

From Posh Account
To My Current Account
Pay To Dale Holden (Me)
Class Computer Hardwear
Memo Cash owed for Ebay Purchase

Does this option not work?

I buy from Ebay so by having a Paypal account a payment starts in the
following order
1, Credit Card to Paypal for £100
2, Paypal to Ebay Seller for £100
3, My Current Account pays my Credit Card £100

But this was not for me so money shows me buying a £100 PSP bu my mate
gets its and later transfers £100 to my Current Account and i was putting
Loan Payment.

So now I put a deposit amount in Posh Account for £100

From "No Entry"
Cat Computer Hardwear
Class Ebay Purchase
Memo PSP bought for Posh from Ebay

Then when she pays i use transfer is that the right way to do it ???




On Fri, 23 Jun 2006 13:08:24 +0100, Dick Watson
<littlegreengecko[at]mind-enufalready-spring.com> wrote:

- quote -



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"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:u6BU22rlGHA.4076[at]TK2MSFTNGP03.phx.gbl...
- quote -

When he/she repays something - transfer it from this account to wherever -
either cash or credit card or bank etc.

Six example transactions, in sequence:

#1A (acct: My Credit Card)
Payee: Ebay
Category: Computer Hardware
Amount: £200 [payment--expense]
Memo: PSP purchased for Posh

#1B (acct: Flatmate Owes Me, entered at same time as #1A)
Payee: [I'd probably leave blank]
Category: Computer Hardware
Amount: £200 [deposit--income]
Memo: Posh owes me for the PSP
(note, and answer to question #1, this really is a deposit, not an expense.
Money may nag about income categorized as expense. Tell it you know what you
are doing.)

#2A (acct: My Credit Card)
Payee: Ebay
Category: Computer Software
Amount: £200 [payment]
Memo: games for the bloody PSP purchased for Posh

#2B (acct: Flatmate Owes Me, entered at same time as #2A)
Payee: [I'd probably leave blank]
Category: Computer Software
Amount: £200 [deposit--income]
Memo: Posh owes me for the PSP games
(note, and repeat of answer to question #1, this really is a deposit, not an
expense. Money may nag about income categorized as expense. Tell it you know
what you are doing and that you are tired of it nagging.)

Balances are now:
My Credit Card: owes £400 [liability]
Flatmate Owes Me: credit of £400 [asset]
(note these exactly offset to net worth impact of £0)

Category totals are now:
Computer Hardware: £0
Computer Software: £0
(note, and answer to question #4, that this is why your budget is
unaffected)

#3 (acct: Flatmate Owes Me)
Payee: Posh Spice [insert name of flatmate here]
Category: Transfer : My Chequeing
Amount: £350 [transfer reducing balance of Flatmate Owes Me and increasing
balance of My Chequeing]
Memo: Posh pays me back for most of the bloody PSP and software, now if
she'd only quit playing with it and come to bed and play with me
(note, and answer to questions #2 and 3, that Transfer is exactly how you
want to reflect your flatmate's electronic transfer to your account)

#4 (acct: My Chequeing)
Payee: Barclay's Bank
Category: Transfer : My Credit Card
Amount: £400 [transfer reducing balance of My Chequeing and reducing
liability of My Credit Card]
Memo: pay the bloody credit card

Balances are now:
My Credit Card: owes £0 [no liability]
Flatmate Owes Me: credit of £50 [asset]
My Chequeing: £50 less than whatever it was
(note these still exactly offset to net worth impact of £0, but flatmate
owes you still and you are still out the cash that flatmate still owes)

-----Original Message-----
From: Dale H [mailto:daleh[at]whateveritwas.com]
Sent: Thursday, June 22, 2006 10:37 AM
To: faq[at]whateveritwas.info
Subject: I paid the phone bill, but my roommate owes me half of it. How do I
track that in Money?

Hi

I have the same problem with my flatmate i pay for most things on my credit
card holidays flights Ebay purchases 100's of item a year and he pays me
back with a bank transfer ever so often. So i guess the 2nd option looks the
best but it is a bit confusing for me (because i am thick )

Eg

I bought a PSP on Ebay for him say May 1 2006 Paid for Flight 24 May 2006
etc etc

So i enter them as a deposit
Payee Dale (Me)
Category Computer Hardware
Class Ebay Purchase (I use classes a lot) Memo PSP

When i enter Money it says hey this is an expense???

So when i have entered say 10 items he owes me for and it £400 and he pays
me £350 by electronic transfer into my Current Account. How do i record
this? do i transfer £350 from the new Cash Account set up for my roommate
into my Current Account?

Also another query when i buy these items for my friend how should i record
them so my budget looks ok. I am presently just recording them as my
transactions?
--
Thank you Dale