line of credit - checking acct overdraft protection

#2 02-09-2004, 12:02 AM

<anonymous[at]discussions.microsoft.com> wrote in message
news:c3a901c3eea4$a5fcef10$a101280a[at]phx.gbl...
- quote -

> thanks. how would i handle the payment from the checking
> acct to the ODP?

Another transfer... Just, backwards.

#1 02-08-2004, 11:35 PM

thanks. how would i handle the payment from the checking
acct to the ODP?
- quote -

> -----Original Message-----
> No new expense is involved here. The only expense will
be the interest added
> to the ODP account. Just do a transfer to checking of
the amount actually
> advanced. This creates a liability in the ODP account
and increases the
> balance of the checking account.
> <anonymous[at]discussions.microsoft.com> wrote in message
> news:c73301c3eea0$cc0eb5c0$a301280a[at]phx.gbl...
> > i set up a line of credit acct in money 2003 tied to my
> > checking account. this is credit card acting like an
> > overdraft protection acct. if i overdraw my chekcing
> > acct, it deposits money into the checking acct. cannot
> > figure out how to track this in money. should i do it
as
> > with a credit card - track the "expense" (deposits into
> > my checking acct) in the line of credit acct, and then
> > treat the payments to the line of credit account from
the
> > checking acct as transfers?
> .

02-08-2004, 11:22 PM

No new expense is involved here. The only expense will be the interest added
to the ODP account. Just do a transfer to checking of the amount actually
advanced. This creates a liability in the ODP account and increases the
balance of the checking account.

<anonymous[at]discussions.microsoft.com> wrote in message
news:c73301c3eea0$cc0eb5c0$a301280a[at]phx.gbl...
- quote -

> i set up a line of credit acct in money 2003 tied to my
> checking account. this is credit card acting like an
> overdraft protection acct. if i overdraw my chekcing
> acct, it deposits money into the checking acct. cannot
> figure out how to track this in money. should i do it as
> with a credit card - track the "expense" (deposits into
> my checking acct) in the line of credit acct, and then
> treat the payments to the line of credit account from the
> checking acct as transfers?

#-1 02-08-2004, 11:08 PM

i set up a line of credit acct in money 2003 tied to my
checking account. this is credit card acting like an
overdraft protection acct. if i overdraw my chekcing
acct, it deposits money into the checking acct. cannot
figure out how to track this in money. should i do it as
with a credit card - track the "expense" (deposits into
my checking acct) in the line of credit acct, and then
treat the payments to the line of credit account from the
checking acct as transfers?

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