In microsoft.public.money, Lance wrote:

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I would try File-> RepairMoneyFile-> QuickFileRepair, and if that did
not do it, I try making a repaired version of my file with
File-> RepairMoneyFile-> StandardFileRepair level 2.

Otherwise, I guess you could try setting this up as a refi at the
existing terms.


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My problem is that my ammortization schedule sometimes quits working. For
instance it was working fine (calculating the payment number, interest
amount, and principal amount) up through payment 48. For some reason, it has
stopped calculating the payment number and proper interest and principal. The
payment number for the pas 15 payments has been blank and the principal and
interest has matched that from payment 48. Is there a way to get it to go
back and calculate these three fields correctly?


Thanks in advance, Lance.

"Cal Learner-- MVP" wrote:

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In microsoft.public.money, Figuring out Money <Figuring out
Money[at]discussions.microsoft.com> wrote:

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35,279.46 - 929.12 = what?


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When you borrow money with a payment schedule, do not enter the
interest rate. Instead enter the payment info, and let Microsoft
Money compute the interest rate; leave the interest rate blank.

The reason is that there can be variations in how the interest rate
is computed by your bank. If you owe more after the payment than
Money calculated, then your real interest rate using standard
methods is higher than the rate you entered. Your bank may be using
a method that is less advantageous to you than the classic method of
computing interest.

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Hi,

I am have created a loan and each payment I make sure the payment and
interest is correct. However the balance is not.

For example my beginning balance is 35,279.46 and a payment of 1,024.42
(Prinicpal 929.12 + Interest 95.30) should have calculated a balance of
34,424.03 instead it calculated 34,350.34.

Why is this not calculating correctly and how can I fix it to automatically
update the balance (without making manual entry). Thanks

"Cal Learner-- MVP" wrote:

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I don't know if this works in 2004, I can't remember--I'm using 2007. But
here's how I solved that problem: When you download your LOAN1 payment
transaction (from BANK 1), go to the category line (which should be blank) of
your BANK1 loan payment transaction, and type in LOAN PAYMENT: LOAN1. What
that does is tell Money this is the loan payment and it calculates all the
categories somewhat correctly. When you press "enter," a pop-up window comes
up and asks "Is this the scheduled LOAN1 payment for DATE blah blah?" If you
say "yes," then it's matched with the bill.

When I say "somewhat correctly," what I mean is that no matter how carefully
you tell Money to calculate the proper interest, etc., it's always off by a
few dollars. Once a year I go through and either 1) make one "correcting
entry" at the end to balance the correct interest, escrow, principal, etc.,
or 2) if I'm energetic, I go and correct each of the 12 transactions.

Hope this helps.

"Eggman" wrote:

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In microsoft.public.money, Cal Learner-- MVP wrote:

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Also, from the register in the loan account, you can click
AnalyzeLoan-> ViewLoanAmortizationSchedule. That should show future
principal and interest amounts.

In microsoft.public.money, Eggman wrote:

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Right-click the loan account from the AccountList and choose Account
Settings/Details. Under Loan Terms, what does it say for
"Interest is calculated:"?




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I guess I happen to think that the purpose of Money is personal financial
management. Downloaded transaction data is one way it acquires data. Is this
feature broken? Not for want of effort. It's about the only Money feature
Microsoft keeps putting any effort into. The problem is that the users
expect miracles and the FIs with the data aren't interested in cooperating
in the first place and don't have their data setup in ways that support
doing it in the second place.

p.s., I'm an engineer in computer systems as well. Downloading the
transaction data is a systems problem first and a software problem second.
It's been attacked like a software problem for more than a decade. The
results are here for everyone to see.

"Eggman" <Eggman[at]discussions.microsoft.com> wrote in message
newsEA24D51-1847-4DD0-BB12-EB0C4B647688[at]microsoft.com...
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The problem is that if Microsoft has included a feature for downloaded
transactions, then the purpose of Money is to handle downloaded transactions.
I am a Software Engineer myself, and so I know that if you put a feature in
your software, and it doesn't work, then it isn't really a feature.

"Dick Watson" wrote:

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I guess you can philosophy is always good but it will not change the facts.
Money works the way money works and Microsoft is very open to making
changes. I have beta tested many versions of Money and found bugs which
have existed in many different versions without resolution.

--

Neil

"Eggman" <Eggman[at]discussions.microsoft.com> wrote in message
news:C3E1EE20-F993-41A7-A04A-43A95718AD10[at]microsoft.com...
- quote -

If the purpose of Money is personal financial management, not downloaded
statements, then you make the argument quite well for just manually entering
your data, the way you want it, the first time, and skipping all of the
downloaded transaction mickey mouse.

"Eggman" <Eggman[at]discussions.microsoft.com> wrote in message
news:C3E1EE20-F993-41A7-A04A-43A95718AD10[at]microsoft.com...
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What I don't understand is that the program is set up so that I specify
Principle + Interest and it calculates how those break down. When I download
a transaction and match it to that bill, why does it lose the ability to
calculate. Yet if I first enter the bill into the register and then download
and match the transaction it is supposed to work. Essentially that is the
exact same process, we are just doing the steps in a slightly different
order. To me that suggests that there is a flaw in the program. Either it
should work both ways, or one of those options should not be possible.

I find this happens frequently with Money and downloaded transactions.
Things always seem to work correctly if I manually enter the information and
then download the statement and match it, but if I try and do it the other
way around, sometimes the program seems to fall apart. The only problem is
that this sort of defeats the purpose of having downloaded statements if I
have to enter all the data manually anyway. To me this is the biggest flaw
that Money has.

Does anyone know if the newer versions have addressed this?

"Remove ABCD from Email address to reply" wrote:

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You can probably go on line to get the exact figures of P&I.

As for why, I guess the answer is that the download does include P&I, the
only way you are getting it by matching it to a transaction that already
includes the data.

Neil

"Eggman" <Eggman[at]discussions.microsoft.com> wrote in message
news:F3515432-322A-4E55-945A-E6C1D09B3A1B[at]microsoft.com...
- quote -

Okay, that might solve it. Unfortunately my statements don't have exact
payment details for me to update the old amounts. But I can figure something
out.

Now my next question would be "why doesn't it calculate interest if you
download the statement rather than manually entering it?

"Remove ABCD from Email address to reply" wrote:

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If you download the transaction from your bank and enter it into you
register before you pay the bill from Money, then no interest will be
calculated.

As far as fixing, you can go into the register where you pay the loan from
and change each transaction.

Neil

"Eggman" <Eggman[at]discussions.microsoft.com> wrote in message
news:2064B43E-788D-40AD-B231-1BCC4BEF16CC[at]microsoft.com...
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No, I have tried setting it up as Interest Calculated on the Day Payment is
Due, and on the Day Lender Receives payment, but neither has worked.

"Cal Learner-- MVP" wrote:

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In microsoft.public.money, Eggman wrote:

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Perhaps you set up the loan as a Canadian mortgage. The method for
that differs, and I think it involves compounding every six months.
I don't know how/if that could explain the thing you are seeing, but
it does have a different algorithm than other loans.

I am using Microsoft Money 2004. I have a loan set up and have had Money
automatically add loan payments into my bills and deposits.

I entered $389.87 as the Principle + Interest when creating the account, but
when I record the bills as being paid, money just sets that amount as going
straight to the principle. Basically, my loan is getting paid off too fast
in Money because it is not calculating any interest. I have been doing this
for a year and now have 12 past payments. I noticed that the first two
payments and the last two payments seem to have interest calculated for them,
but the rest don't.

How can I set up the account so that it correctly calculates interest on
each payment. Also, how can I fix all the old payments that are already
incorrect?