Go Back   CDN Business Directory > Main Category > Microsoft Money

 
 
Thread Tools Display Modes
  #1  
Old 07-08-2003, 05:12 PM
Dick Watson
Guest
 
Posts: n/a
Default Re: No-Interest, No-Payments

The second account is one way to tame the DRP. Since the prime (sole?)
benefit of the DRP is to support payment planning to assure that you pay
down debt in order to minimize interest cost and maximize use of available
cash flow, I'd only worry it if you have both of those concerns. Otherwise,
maybe just schedule some estimated bill charged to the account as an
interest expense to help you see cash flow effects.

"David Palmer" <no.spam.djpalmer_71[at]yahoo.no.spam.com> wrote in message
news:0e8901c34550$a314b790$a301280a[at]phx.gbl...
- quote -

> Thanks for the reply. The cash flow information should
> help. Hopefully I won't be paying any interest on
> the "no-interest" transactions, so that should work
> fine. The other question about the interest rate
> difference was mainly for the DRP. I don't think I'll be
> able to get the balance paid off before the interest rate
> changes, and I have a feeling I'll be using the credit
> card for additional purchases before the "promotional"
> interest rate changes back, and I wanted the DRP to
> account for this as well. Would it change the DRP to
> make a separate "account" out of the lower interest rate
> transaction, and transfer any remaining balance to the
> parent account when the promotion ends?


 
Old 07-08-2003, 12:32 PM
Dick Watson
Guest
 
Posts: n/a
Default Re: No-Interest, No-Payments

As to the first general Q, no interest, no payments, here's what I'd do:

1) Make a first transaction entry for the amount you start by paying, with a
split of the total amount against the appropriate category and then a credit
for the balance due to some holding category (I've setup
"Miscellaneouseposit, credit to follow" for cases like this.)
2) Setup a scheduled bill to cover whatever scenario I plan to use to pay it
off. Expense these against the same holding category.

This will make the cash flow work, but will not account for interest, but in
this climate, I have no idea why you'd even contemplate paying any. Beyond
that, I guess I don't know what you want to "track ... individually" about
them. Are you trying to compute your own interest number to check their
statements? Excel is probably your best bet.

As to the second Q, You can enter some of this information against an entire
account, but with the exception of the DRP, it is never used.

"David Palmer" <no.spam.djpalmer_71[at]yahoo.no.spam.com> wrote in message
news:067501c34544$4877cf90$a001280a[at]phx.gbl...
- quote -

> I apologize if this is a duplicate message, but this
> message didn't seem to post from my office.
> I've been fighting with this all weekend, and I can't
> find a solution. Is it possible to track individual
> purchases in Money 2003 that have a no-interest with or
> without payment options? For example, Home Depot has a
> special offer where any purchases totaling $299 or more
> using the Home Depot credit card is interest/payment free
> for 6 months from the date of purchase. I have made two
> such purchases (one in March, and one in June), but I
> can't seem to track them individually. Also, can Money
> track special interest rates on individual purchases,
> such as a lower interest rate for credit card balance
> transfers, but a higher interest rate for regular
> purchases?


  #-1  
Old 07-08-2003, 11:30 AM
David Palmer
Guest
 
Posts: n/a
Default No-Interest, No-Payments

I apologize if this is a duplicate message, but this
message didn't seem to post from my office.

I've been fighting with this all weekend, and I can't
find a solution. Is it possible to track individual
purchases in Money 2003 that have a no-interest with or
without payment options? For example, Home Depot has a
special offer where any purchases totaling $299 or more
using the Home Depot credit card is interest/payment free
for 6 months from the date of purchase. I have made two
such purchases (one in March, and one in June), but I
can't seem to track them individually. Also, can Money
track special interest rates on individual purchases,
such as a lower interest rate for credit card balance
transfers, but a higher interest rate for regular
purchases?

Any assistance would be greatly appreciated.

Thanks,
David
 

Tags
nointerest, nopayments


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT. The time now is 09:14 PM.