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Old 01-04-2004, 05:47 PM
Dick Watson
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Default Re: setting up an escrow account in the mortgage setup

Just setup the PI payment in the loan account and let Money create the
scheduled PI loan payment for you. Then go to Bills & Deposits and edit the
loan payment series: go to the details for the loan payment and add a new
split line for Transfer:[name of escrow cash account] in the amount of the
escrow uptake.

"Bill Saxon" <bsaxon[at]adelphia.net> wrote in message
news:a3d46d42.0401041022.17517f7d[at]posting.google.com...
- quote -

> My mortgage, as do most, has an escrow payment each month that is
> included in the payment of principal and interest. I have always
> following bookkeeping procedure and set this up as an account (not
> expense category). The money is paid into the account and when taxes,
> insurance etc is due it is disbursed.
> In setting up my Home Mortgage I can find no way to do this in Money.
> The only thing it provides for is setting up a Category and this is
> not the proper way to handle it. There is no other choice since the
> drop down list to assign this portion of the payment is only the
> Categories with no Accounts to chose from. Any help much appreciated.



  #-1  
Old 01-04-2004, 05:22 PM
Bill Saxon
Guest
 
Posts: n/a
Default setting up an escrow account in the mortgage setup

My mortgage, as do most, has an escrow payment each month that is
included in the payment of principal and interest. I have always
following bookkeeping procedure and set this up as an account (not
expense category). The money is paid into the account and when taxes,
insurance etc is due it is disbursed.

In setting up my Home Mortgage I can find no way to do this in Money.
The only thing it provides for is setting up a Category and this is
not the proper way to handle it. There is no other choice since the
drop down list to assign this portion of the payment is only the
Categories with no Accounts to chose from. Any help much appreciated.

I tried to submit this question by Email to Microsoft Help but could
find no address for it anywhere. Does anyone have it? My
understanding is that I am entitled to this with the DeLuxe edition.
I didn't try by phone since it is a Sunday.

Thanks in advance.
 

Tags
account, escrow, mortgage, setting, setup
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