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Old 05-03-2007, 04:42 PM
Dick Watson
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Default Re: credit card payments

Normal way, assuming you are using M04 or prior or M05-7 with Advanced
Registers and NOT using Money Essentials (MEss):

In a Credit Card Account with an initial balance of $500 owed, add a
transaction against some Expense Category like Toys : Computer $1,000.00.
Now you are done with the computer expense. (I don't understand why you said
you started with a $0 balance, added a $1,000 computer and then had a $1,500
balance.)

(CC Account Balance now $1,500 owed.)

In the Checking Account, month 1, Transfer : [name of CC Account] $200.00.

(CC Account Balance now $1,300 owed.)

In the Checking Account, month 2, Transfer : [name of CC Account] $200.00.

(CC Account Balance now $1,100 owed.)

In the Checking Account, month 3, Transfer : [name of CC Account] $200.00.

(CC Account Balance now $900 owed.)

In the Checking Account, month 4, Transfer : [name of CC Account] $200.00.

(CC Account Balance now $700 owed.)

In the Checking Account, month 5, Transfer : [name of CC Account] $200.00.

(CC Account Balance now $500 owed.)

If you are trying to pay $200 of the computer purchase and ALL of the other
charges, then you will have to do the math outside the Money accounts (Excel
is a favorite add-on tool to Money). You could also do something
semi-unnatural in Money like schedule a bill (IF M05-7, THEN use Advanced
Bills) for five recurrences that is a split something like:

$700 split into:
Transfer : [name of CC Account] $500.00 memo: estimate of additional monthly
purchases, adjust each month as required
Transfer : [name of CC Account] $200.00 memo: payoff the computer for five
months

There are some really unnatural things that are basically trying to create
pseudo-subaccounts. I won't treat them since I surely wouldn't recommend
them. If you search the group archive (go to http://groups.google.com and do
an advanced search for group microsoft.public.money) for "subaccounts" you
might find some ideas along those lines.

"Primo" <Primo[at]discussions.microsoft.com> wrote in message
news:73D1AB6C-6B64-47FE-A51F-2D5098FD9FBA[at]microsoft.com...
- quote -

> i don't understand what to do , in order to make a credit card payment.
> i gave you an example:
> i bought a computer that cost me 1000$. i
> I'm paying for it through my credit card , 5 equal payments of 200$ each.
> my credit card debt stand on 0$ (before the computer).
> my credit card debt stand on 1500$ (after the computer).
> now,
> On may 10th i need to pay 200$ - i need to see how much i need to pay in
> may
> (I'll probably have more purchases) and after that the debt will be 800$.
> how can i enter this info , so the program will show me what's really
> happening in my accounts.
> hope that's possible.



  #-1  
Old 05-03-2007, 12:47 PM
Primo
Guest
 
Posts: n/a
Default credit card payments

i don't understand what to do , in order to make a credit card payment.
i gave you an example:
i bought a computer that cost me 1000$. i
I'm paying for it through my credit card , 5 equal payments of 200$ each.
my credit card debt stand on 0$ (before the computer).
my credit card debt stand on 1500$ (after the computer).
now,
On may 10th i need to pay 200$ - i need to see how much i need to pay in may
(I'll probably have more purchases) and after that the debt will be 800$.

how can i enter this info , so the program will show me what's really
happening in my accounts.

hope that's possible.

thank you very much

 

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card, credit, payments
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