Money 97 5.0

Dear MVP,
When entering a payment, on the check register, in Money.  
Does the payment automatically get added to another 
account?  Or do I have to manually add the payment to that 
account too.
e.g. Pay the mortgage from my checking account as 
Bills/Mortgage...and then manually go to Mortgage Account, 
split for Mort. pymnt/int etc.? or Pay the mort. from 
checking and Mort. pymnt is automatically updated?
Thanks for your help.
Sincerely,
Ross Omar
0
rossomar (1)
12/5/2003 5:35:23 PM
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I'm not an MVP, so take this answer with a large grain of salt:

Transactions that move money from a cash account to a liability account
should generally be "Transfer:[name of acct]" category:subcategory. This
puts an entry in each account for one transaction. Mortgages and other loan
accounts use the special category of "Loan Payment:[name of acct]" which is
a special form of transfer that is part transfer (for the principal
reduction) and part an expense component for the interest expense.

But I'm not an MVP, so don't take my word for it.

Did you just start using Money97 very recently?

"Ross Omar Garcia" <rossomar@swbell.net> wrote in message
news:dc1f01c3bb56$297486f0$a601280a@phx.gbl...
> Dear MVP,
> When entering a payment, on the check register, in Money.
> Does the payment automatically get added to another
> account?  Or do I have to manually add the payment to that
> account too.
> e.g. Pay the mortgage from my checking account as
> Bills/Mortgage...and then manually go to Mortgage Account,
> split for Mort. pymnt/int etc.? or Pay the mort. from
> checking and Mort. pymnt is automatically updated?
> Thanks for your help.
> Sincerely,
> Ross Omar


0
12/5/2003 7:20:41 PM
Reply:

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