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Old 06-28-2007, 09:34 AM
Phantom
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Posts: n/a
Default RE: Bought a house! How to add into Money?

To add a house first make sure that you have all the details of the mortgage.
The exact steps depends on the version of money that you are using. I am
using 2006 Deluxe. From the account tools select account setup, Other (which
includes loans etc), Select Loans from the list provided, the next prompt
should be for the level of details you wish to track, from you post I assume
that you want the details. In that case select the details option and follow
the instructions that will guide you through the process. You can also
create an asset account to show the value of the house on your house. You
can therefore associate this asset with the mortgate so that you can track
equity gains in your home.

Regards

Phantom

"DaveWW00" wrote:

- quote -

> I just bought my first house a few weeks ago.
> I have been using money for about a year now to track all my expenses,
> budget, investments, etc. and have found it very useful. However, i
> am wondering what is the best way to add a mortgage into money so i
> can track what i have paid? Should i just do it as an normal expense
> and maybe just break down the payment into subcategories (insurance,
> taxes, mortgage) or is there an actual better way to do this?
> Thanks!

  #1  
Old 06-27-2007, 04:47 AM
Dick Watson
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Posts: n/a
Default Re: Bought a house! How to add into Money?

In addition to what Neil posts, you can also consider tracking the escrow
account, if applicable. See http://umpmfaq.info/faqdb.php?cat=23 for several
related Q&A.

"Remove ABCD from Email address to reply" <neil154ABCD[at]gmail.com> wrote in
message news:%23mYJlNHuHHA.3476[at]TK2MSFTNGP02.phx.gbl...
- quote -

> I would suggst that you create an asset account for the house and a loan
> account for the mortgage. Then create a payment in the bill sectionof
> Money. The payment should be for category "loan Payment: XXXX" where XXXX
> is the mortgage account. The payment will automatically calculate the
> principal and interest and enter it into the mortgage account.



 
Old 06-27-2007, 04:26 AM
Remove ABCD from Email address to reply
Guest
 
Posts: n/a
Default Re: Bought a house! How to add into Money?

I would suggst that you create an asset account for the house and a loan
account for the mortgage. Then create a payment in the bill sectionof
Money. The payment should be for category "loan Payment: XXXX" where XXXX
is the mortgage account. The payment will automatically calculate the
principal and interest and enter it into the mortgage account.

--

Neil


"DaveWW00" <david.westendorf[at]gmail.com> wrote in message
news:1182914534.938054.236110[at]n2g2000hse.googlegroups.com...
- quote -

> I just bought my first house a few weeks ago.
> I have been using money for about a year now to track all my expenses,
> budget, investments, etc. and have found it very useful. However, i
> am wondering what is the best way to add a mortgage into money so i
> can track what i have paid? Should i just do it as an normal expense
> and maybe just break down the payment into subcategories (insurance,
> taxes, mortgage) or is there an actual better way to do this?
> Thanks!



  #-1  
Old 06-27-2007, 03:22 AM
DaveWW00
Guest
 
Posts: n/a
Default Bought a house! How to add into Money?

I just bought my first house a few weeks ago.

I have been using money for about a year now to track all my expenses,
budget, investments, etc. and have found it very useful. However, i
am wondering what is the best way to add a mortgage into money so i
can track what i have paid? Should i just do it as an normal expense
and maybe just break down the payment into subcategories (insurance,
taxes, mortgage) or is there an actual better way to do this?

Thanks!

 

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add, bought, house, money
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