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Old 09-17-2003, 12:34 AM
Dick Watson
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Default Re: Updating Loan Accounts

What do you mean you have a car loan entered in Bills & Deposits? A car loan
in Money is typically a Loan Account, not something you setup as a scheduled
bill.

In general, a loan account in Money is paid via a "Loan Payment:[name of
loan acct]" special category transaction in the Money account making the
payment. The Loan Payment has two components: a calculated interest expense
component assigned to the category you specified when you created the loan
account in Money and a Principal Transfer of the calculated principal amount
from the cash account to the liability account. The principal component
reduces the balance in the paying cash account and also reduces the
liability in the loan account.

Your scheduled bill needs to be setup as a Loan Payment. You can go back and
recategorize existing payments that may be some expense category like
"Automobile:Loan Payment" to the correct Loan Payment:[name of loan
account].

"Larry Ewing" <larryewing[at]hotmail.com> wrote in message
news:1wL9b.1493$YO5.862285[at]news3.news.adelphia.net...
- quote -

> I have Money 2003. I have a car loan, which is entered in Bills & Deposits
> for automatic entry into my checking account register once a month. How do

I
> get Money to also update my Car Loan account in the future? (I have

already
> made 10 car payments...none of them show up in the Car Loan account...how

do
> I get the past payments in there without duplicating them in my checking
> account register?) I seem to be going around in circles.



  #-1  
Old 09-16-2003, 09:45 PM
Larry Ewing
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Posts: n/a
Default Updating Loan Accounts

I have Money 2003. I have a car loan, which is entered in Bills & Deposits
for automatic entry into my checking account register once a month. How do I
get Money to also update my Car Loan account in the future? (I have already
made 10 car payments...none of them show up in the Car Loan account...how do
I get the past payments in there without duplicating them in my checking
account register?) I seem to be going around in circles. Thanks for any
help.


 

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accounts, loan, updating
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