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Old 02-11-2007, 03:34 PM
Dick Watson
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Posts: n/a
Default Re: How should i input installments of credit card payments?

Normal best practices (assuming this is the first use of the card, you are
not using Money Essentials (MEss), and are using M04 or earlier or M05-7
with Advanced Register and Advanced Bills):

1) Create a Credit Card Account, with $0 initial balance. You don't even
have to associate the account with a Financial Institution.

2) Enter a transaction in that account, amount $1,200, category Leisure :
HDTV (or whatever).

3) Schedule a $50 monthly Transfer transaction from the account you will use
to pay the bills transferring to the new credit card account. You can even
set this transfer series to run out after 24 increments.

You might even want to set the transfer up for 23 installments of $52.18.
That way you better assure you do not overrun the end date and end up paying
interest for the entire balance for the entire time.

"Lendsly" <Lendsly[at]discussions.microsoft.com> wrote in message
news:4EFEB63B-9176-4D0A-B267-0143B9A12C3B[at]microsoft.com...
- quote -

> Hi, I have bought something with my credit card in 24 installments
> (interest
> free), the total sum is $1200 and i would pay $50 each month, how should i
> input these data in Money? Thanks!



 
Old 02-11-2007, 03:24 PM
Bob Peel, MVP
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Posts: n/a
Default Re: How should i input installments of credit card payments?

You input a charge in your credit card account of 1200 dollars and schedule
a bill transfer of 50 dollars each month from the current account to the cc
account.

--
Regards
Bob Peel,
Microsoft MVP - Money

For UK tips & fixes see
http://support.microsoft.com/default...d=fh;EN-GB;mny.


I do not respond to any emails that I have not specifically asked for.

"Lendsly" <Lendsly[at]discussions.microsoft.com> wrote in message
news:4EFEB63B-9176-4D0A-B267-0143B9A12C3B[at]microsoft.com...
- quote -

> Hi, I have bought something with my credit card in 24 installments
> (interest
> free), the total sum is $1200 and i would pay $50 each month, how should i
> input these data in Money? Thanks!


  #-1  
Old 02-11-2007, 03:09 PM
Lendsly
Guest
 
Posts: n/a
Default How should i input installments of credit card payments?

Hi, I have bought something with my credit card in 24 installments (interest
free), the total sum is $1200 and i would pay $50 each month, how should i
input these data in Money? Thanks!
 

Tags
card, credit, input, installments, payments
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