"Rod" <rod[at]no.spam> wrote in message
news:79D1F603-AE2A-4AC0-A0C0-871F0F2C694D[at]microsoft.com...
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Dick Watson's suggested approach allows initiating it from your
checking account. It works around the fact that Money won't let you
type or pick "Principal Transfer" as a category directly from the
register. The approach I suggested, and that worked for you,
simplified accomplishing the same goal, but required more steps.

Yeah! AT LAST I GOT IT!!! Man, that was NOT easy at all! Thank you,
Chris, for your help. I would NEVER have gotten it otherwise!!!

Rod

"Chris Cowles" <spam_magnet[at]remove-me-bellsouth.net> wrote in message
news:u6VE$5jXIHA.3556[at]TK2MSFTNGP02.phx.gbl...
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I am using the Premium edition of MS Money Plus for 2008.

Rod

"Chris Cowles" <spam_magnet[at]remove-me-bellsouth.net> wrote in message
news:u6VE$5jXIHA.3556[at]TK2MSFTNGP02.phx.gbl...
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"Rod" <rod[at]no.spam> wrote in message
newsE5ECF14-4199-495A-9A2D-289F0E873049[at]microsoft.com...
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The easy way out is to go to the loan account and initiate an extra
principal payment from there, using the checking account as the
source. Go back to checking account and edit the resulting transaction
to add check number, memo, etc. If you're using online billpay and
want to pay it as epay, you can revise that there, as well.

What version of Money are you using? My answers assume Deluxe or
Premium. If Essentials, all bets are off. It's seriously restricted in
functionality, to the point of non-functionality.
--
Chris Cowles
Gainesville, FL

Chris,

I do not have the Split option at all. What am I doing wrong? I am trying
to enter this as a transfer from my checking account into this loan account.
Is that wrong?

Rod

"Chris Cowles" <spam_magnet[at]remove-me-bellsouth.net> wrote in message
news:%23GuVjluWIHA.4868[at]TK2MSFTNGP03.phx.gbl...
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"Rod" <rod[at]no.spam> wrote in message
news:4B9A0896-5028-4E33-89AB-8C5C40CDB076[at]microsoft.com...
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Initiate the payment in your checking account. Set the category to
"Loan payment : xxxx", whatever that account name is. Before saving,
click split. Delete all lines except principal transfer. Highlight
that line and press F5. The total payment amount will go there. Click
Done to save and exit back to the register. Click Enter to save the
transaction.

If you edit the transaction it will now say "Principal Transfer :
xxxx" as the single line category. The reason for editing the split is
you cannot enter Principal Transfer directly on the main register. You
can do that only on a split page.

It may be easier to initiate the extra payment in the loan register.
That creates the principal transfer in checking, automatically, but
you still have to edit the transaction in checking if you want to add
a checking number, memo, et.

If paying only might have to initiate the transaction in checking, but
you might be able to initiate it in the loan account, then edit the
check register side to ePay.
--
Chris Cowles
Gainesville, FL

Well, it depends on a lot of things. Let me give you the "best practices"
answer.

Assuming that you are using Deluxe or Premium, Advanced Registers, and the
loan in question was setup as a Loan Account: enter a transaction using the
"special category" Loan Payment : [name of Loan Account]; edit the splits to
show the entire amount as the Principal Transfer amount and delete the
[whatever category you specified for the interest component] line.

"Rod" <rod[at]no.spam> wrote in message
news:4B9A0896-5028-4E33-89AB-8C5C40CDB076[at]microsoft.com...
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I've got a personal loan which I've taken out recently. The first payment
is due in February. However, I just made a large payment and asked that the
payment be applied to the principle of the loan, in order to reduce the
amount of time it will take to pay off the loan.

What I want to know is how do I enter this into Microsoft Money Plus 2008?
Do I just have to enter the amount that I paid and Money will automagically
"know" that it should be applied to the principle, or what?

Rod