Paycheck direct deposit payment of loan

#1 11-02-2008, 02:18 AM

Thanks. That should work. I keep a cash account as well... so it will be a
like a sleeve transaction

"Dick Watson" wrote:

- quote -

> The issue here is that a Loan Payment is a Split and a Paycheck is a Split
> and you can't have a Split inside a Split. It's just a limitation of the
> Money design. The workaround is to have the Paycheck Transfer the amount to
> some intermediate account (I've used my "pocket change account for similar
> purposes) and then have the Loan Payment separately entered in that
> intermediate account. There's not really a better way.
> "Brian" <Brian[at]discussions.microsoft.com> wrote in message
> news:1326D4C0-07FE-457E-8448-59C9F80EA3DA[at]microsoft.com...
> > I have a loan setup and I have configured my direct deposit to pay that
> > loan
> > every pay period. For some reason, when I go to enter after tax
> > deductions/transfers into Money, there is no option for loan payment or
> > transfer to loan account in the details for Paycheck. I am using Money
> > Plus
> > Premium v17. Any thoughts on this would be helpful.

11-01-2008, 11:35 PM

The issue here is that a Loan Payment is a Split and a Paycheck is a Split
and you can't have a Split inside a Split. It's just a limitation of the
Money design. The workaround is to have the Paycheck Transfer the amount to
some intermediate account (I've used my "pocket change account for similar
purposes) and then have the Loan Payment separately entered in that
intermediate account. There's not really a better way.

"Brian" <Brian[at]discussions.microsoft.com> wrote in message
news:1326D4C0-07FE-457E-8448-59C9F80EA3DA[at]microsoft.com...
- quote -

> I have a loan setup and I have configured my direct deposit to pay that
> loan
> every pay period. For some reason, when I go to enter after tax
> deductions/transfers into Money, there is no option for loan payment or
> transfer to loan account in the details for Paycheck. I am using Money
> Plus
> Premium v17. Any thoughts on this would be helpful.

#-1 11-01-2008, 04:24 PM

I have a loan setup and I have configured my direct deposit to pay that loan
every pay period. For some reason, when I go to enter after tax
deductions/transfers into Money, there is no option for loan payment or
transfer to loan account in the details for Paycheck. I am using Money Plus
Premium v17. Any thoughts on this would be helpful.

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