In microsoft.public.money, Margaret wrote:

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See FAQ available at http://www.bollar.org/msmoney/ for information.

There are far too many permutations for this to be easy or for a simple
wizard in Money. Was it easy to sell the house? Was it easy to understand
all of the paper at closing and all of the puts and takes on the settlement
sheet? If not, why would you think it should be easy to record all of this
activity in Money?

But it is do-able.

The basic drill (as I see it, I've not done exactly this):

Create a new loan payment transaction, in the Money savings account that got
the proceeds, that pays the existing Money loan account. Set the principal
transfer component to the balance paid out to the old mortgage. Add
potentially dozens of split elements that match the other items noted on the
settlement sheet. (Commission is an expense of some kind, there may be some
expense credits for, say, escrow payouts, you'll have some expenses for
accrued property taxes and interest on the old mortgage paid to the
settlement date, and so on.) There may literally be dozens of these
elements. You can have a transfer into this transaction of your asset
account value from your Money asset account, if you have one. You may have
an income item for the extra value realized over and above the value
transferred in from the asset account. If you have an cash accounts for
escrow, there may be some transfers into or out of this transaction as well.
Sooner or later--just like the settlement sheet--you should end up with the
total of the transaction being the balance due you. This is why you set it
up as a "loan payment" that really works out to a net deposit. (It has to be
a loan payment transaction because Money doesn't know another way to
transfer principal to a loan account.)

Once this is done, you can close the old loan account, and the old asset
account, if applicable. You may need to put in some account adjustment $s in
the loan account to get its balance to $0 after the payoff value. This
should be a small number if things are otherwise OK. My last mortgage on
refi was off by $0.32.

Anyway, play around with it and come back with more specific questions
if/when you get stuck. This is do-able. Once your done, it will look pretty
straightforward in retrospect.

"Margaret" <margshake[at]hotmail.com> wrote in message
news:b77f01c3817b$d3077e30$a601280a[at]phx.gbl...
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I recently sold my house and paid off the associated
mortgage. I have been trying to properly record the
transaction in Money (2004 version) but cannot find any
easy (or even close to easy) way to accomplish this
task. I want to record:

The sale of the house
The Payoff of the mortgage
The costs associated with the sale (commission, etc.)
The deposit of the proceeds to a savings account.

Please let me know the best way to record this
transaction. There really should be a wizard or a help
topic associated with this (I looked both in help and on
the Money support site).

Thanks for the assistance.
Margaret