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Old 10-25-2003, 01:54 PM
Matt
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Posts: n/a
Default Re: Credit Card Account on Money 2002

That's a great way of explaining it. I think the
lightbulb has recently gone off for me, but perhaps only
partly. I have come to realize that Money 2002 is
definitely with it's faults. I've sworn off using the
Credit Card Payment category ever again because it
completely screws up my budget. I'll just record credit
card payments as transfers from now on. Now, however, I
can't fix the budget mess I got myself into!

- quote -

> -----Original Message-----
> Something tells me you are messing with electronic

transactions and
> downloaded transaction data without really understanding

how Money works
> first. Perhaps I'm wrong.
> What do you mean you "pay [your] credit card account

using the Money
> register"?
> What do you mean "it shows 'From XYZ Credit Card' being

paid to 'XYZ Credit
> Card.'"
> The general drill is to setup a credit card liability

account and a checking
> cash account. When you pay the credit card account you

enter a transaction
> in the checking cash account register where the Payee

says whatever you want
> it to say, the amount is set to the amount of the

payment, and the category
> is set to "Transfer:[name of credit card acct]" or, less

clearly in terms of
> what's really going on in Money, "Credit Card Payment:

[name of credit card
> acct]".
> In general, these Transfers (Credit Card Payment is just

a seemingly less
> confusing name for Transfer that delays the point where

the light bulb comes
> on for the user and the understand what's going on) don't

show up in the
> Income and Expense report since they are not income nor

expense. You got
> poorer (Expense) when you spent money with the credit

card to buy stuff. You
> get richer (Income) when you deposit a paycheck in the

checking account.
> When you transfer money from the cash account to the

liability account you
> got neither poorer nor richer.
> "Monica" <anonymous[at]discussions.microsoft.com> wrote in

message
> news:04c201c399bb$4da0e530$a401280a[at]phx.gbl...
> > I pay my credit card account using the Money register. I
> > now am trying to run a Monthly Income and Expenses

report
> > and I find all my payments coming up in "Income
> > Unassigned." When I click on one of those individual
> > payments, it shows "From XYZ Credit Card" being paid
> > to "XYZ Credit Card." Obviously I have set the accounts
> > up incorrectly, but I"m not sure what to do. Can anyone
> > help?

> .

 
Old 10-24-2003, 01:11 AM
Dick Watson
Guest
 
Posts: n/a
Default Re: Credit Card Account on Money 2002

Something tells me you are messing with electronic transactions and
downloaded transaction data without really understanding how Money works
first. Perhaps I'm wrong.

What do you mean you "pay [your] credit card account using the Money
register"?

What do you mean "it shows 'From XYZ Credit Card' being paid to 'XYZ Credit
Card.'"

The general drill is to setup a credit card liability account and a checking
cash account. When you pay the credit card account you enter a transaction
in the checking cash account register where the Payee says whatever you want
it to say, the amount is set to the amount of the payment, and the category
is set to "Transfer:[name of credit card acct]" or, less clearly in terms of
what's really going on in Money, "Credit Card Payment:[name of credit card
acct]".

In general, these Transfers (Credit Card Payment is just a seemingly less
confusing name for Transfer that delays the point where the light bulb comes
on for the user and the understand what's going on) don't show up in the
Income and Expense report since they are not income nor expense. You got
poorer (Expense) when you spent money with the credit card to buy stuff. You
get richer (Income) when you deposit a paycheck in the checking account.
When you transfer money from the cash account to the liability account you
got neither poorer nor richer.

"Monica" <anonymous[at]discussions.microsoft.com> wrote in message
news:04c201c399bb$4da0e530$a401280a[at]phx.gbl...
- quote -

> I pay my credit card account using the Money register. I
> now am trying to run a Monthly Income and Expenses report
> and I find all my payments coming up in "Income
> Unassigned." When I click on one of those individual
> payments, it shows "From XYZ Credit Card" being paid
> to "XYZ Credit Card." Obviously I have set the accounts
> up incorrectly, but I"m not sure what to do. Can anyone
> help?



  #-1  
Old 10-24-2003, 12:13 AM
Monica
Guest
 
Posts: n/a
Default Credit Card Account on Money 2002

I pay my credit card account using the Money register. I
now am trying to run a Monthly Income and Expenses report
and I find all my payments coming up in "Income
Unassigned." When I click on one of those individual
payments, it shows "From XYZ Credit Card" being paid
to "XYZ Credit Card." Obviously I have set the accounts
up incorrectly, but I"m not sure what to do. Can anyone
help?
 

Tags
2002, account, card, credit, money
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