This is exactly how I've worked it out.

I created an asset to represent Car 1 (my previous car), which I
transfered the value of the trade-in for Car 1 into asset for my new car,
Car 2. Then I closed Car 1.

Thanks


"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
news:uTrZD2AZHHA.4520[at]TK2MSFTNGP06.phx.gbl:

- quote -

Glad I could help. Note that when you sell the car, the value of the asset
account should end up at 0. The amount you get for it can be transferred out
or into a purchase transaction, say for a trade in. Any greater amount that
is still in the asset account is typically expensed with a transaction
(Automobileepreciation or something like that).

"Dave Anson" <daveTAKEMEOUT[at]jazzthecat.co.uk> wrote in message
news:Xns98F0AA1578758JTC[at]216.196.109.145...
- quote -

Thank you for the prompt response. How dumb of me, I now hear what you
are saying. Looking at the Account Details for the Asset, I can see the
loan is associated with the asset. Never having set up an asset, I was
treating the asset as a loan, which it is not. Therefore the only value
the asset has is the desposit I paid and any equity I can make buy
selling the car.

Thanks again


"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
news:eom3dQ#YHHA.2436[at]TK2MSFTNGP06.phx.gbl:

- quote -

I'm more or less with you until you say you want to "add previous loan
payments as transactions against the asset."

Normally, the Asset Account and the Loan Account have no interaction like
what you describe. The Asset Account is initially set to the value of the
vehicle and needs periodic adjustment as its value declines. this process is
not related to the Loan which is a function of whose money you are using to
buy the vehicle and how you get them their money back and how much rent they
charge you on their money along the way.

"Dave Anson" <daveTAKEMEOUT[at]jazzthecat.co.uk> wrote in message
news:Xns98F06DE14CEC7JTC[at]216.196.109.145...
- quote -

I have MS Money 2004. I have an existing loan for which payments have
already been made. I have created an Asset and Associated the loan with
this. If this is the correct way to do it (correct me if i'm wrong), I
would like to add previous loan payments as transactions against the Asset.

For the loan payment transactions, from my Bank Account the Category is
"Loan Payment: <institue> ", which is split into "Principal Transfer:
<institute> " (greyed out) and "Car: Car Payment".

From the Institute the transaction shows "Transfer: <Bank Accout> " (greyed
out)

Thanks in advance
JTC.