Equity Line Payments in Money 2003

I reviewed some of the posts and even called MS on this, and there
does not seem to be a way to split/categorize payments made to an
equity line account.

How the software defaults this payment is that it is assigned a
category of "Transfer: Checking Account."  Obviously, if this is
changed, then the corresponding entry in the checking account would be
effected, making that account out of balance.

At least one way you can keep the balances correct is to enter your
interest/finance charge on the equity line account every month by
posting a "Charge."

If anyone knows of a way, please correct me!
0
stbarry (1)
11/7/2003 5:20:31 PM
money 28651 articles. 7 followers. Follow

1 Replies
401 Views

Similar Articles

[PageSpeed] 27

Maybe I don't understand your question or what you are trying to do. Nor am
I sure exactly what you are getting hung up on. I think maybe it's the
notion that the interest is a "charge". So, don't think of it as a "charge,"
think of it as an addition to your balance due.

You have an equity line of credit setup as some kind of liability account
named ELOC. Its starting balance is $0.

You draw on the account by, say, transferring $1,500.00 to your checking
account. That's a Transfer:Checking of $1,500 entered in the ELOC liability
account. That's a transfer because you still have the money. You are neither
richer (income) nor poorer (expense) for having moved (Transfer) that
$1,500.

You spend $1,551.27 on a Plasma TV by writing a check. That's a
Furnishings:Appliances expense in Checking account. That's an expense. Now
you are poorer.

You get a statement for $1,500 from the line of credit people. It lists $50
interest and a new balance of $1,550. The $50 is an expense. Now you are
poorer.

You can do (as many of us would) what you suggest and put in a $50 Interest
Expense:Other Interest transaction in the ELOC account. Then it will
balance. And then you can do a Transfer:ELOC from Checking of $250. Now the
balance of ELOC is $1,300.

You could also (though I know not why you would do it this way) do a split
transaction in Checking with a Transfer:ELOC of $200 and an $50 Interest
Expense:Other Interest expense. The total of the transaction will be the
same $250. The new balance in the ELOC will be $1,300. Oh, and you're $50
poorer.

"Steve" <stbarry@deloitte.com> wrote in message
news:5fea643a.0311070920.2528667a@posting.google.com...
> I reviewed some of the posts and even called MS on this, and there
> does not seem to be a way to split/categorize payments made to an
> equity line account.
>
> How the software defaults this payment is that it is assigned a
> category of "Transfer: Checking Account."  Obviously, if this is
> changed, then the corresponding entry in the checking account would be
> effected, making that account out of balance.
>
> At least one way you can keep the balances correct is to enter your
> interest/finance charge on the equity line account every month by
> posting a "Charge."
>
> If anyone knows of a way, please correct me!


0
11/7/2003 8:15:40 PM
Reply:

Similar Artilces:

MS Excel 2003 cannot auto calculate formula, need to press F9 each time
hi, I don't know why my excel 2003 new worksheet cannot auto calulate formula (eg. summation), i need to press F9 and it will refresh and show the new figure. there is "calculate" word at the left hand bottom of the screen. what is the likely reason ? it was running fine 2 weeks ago. any advise is greatly appreciated. rgds. Tools>Options>Calculation tab, check Automatic -- Kind regards, Niek Otten Microsoft MVP - Excel <sg_s123@yahoo.com.sg> wrote in message news:d5393a73-eb7d-4e08-8fab-5f4ab895f77a@e23g2000prf.googlegroups.com... | hi, | | I don't know w...

Money 2005 Trial Download Gone! Stuck...
I bought the download edition of money 2005, re-installed my system, but don't have the "Trial" version of Money 2005 to install/upgrade to the full paid for version (download). Now that 2006 is out that's all i can find... Am I forced to upgrade? Or is there a place I can still find this? In microsoft.public.money, Hrrglburf wrote: >I bought the download edition of money 2005, re-installed my system, >but don't have the "Trial" version of Money 2005 to install/upgrade to >the full paid for version (download). Now that 2006 is out that's all i &...

how to edit my x-axis data on a line graph
Version: 2008 Operating System: Mac OS X 10.5 (Leopard) Processor: Intel my x axis data on my graph is just showing numbers 1 2 3 4 5 6 7 8 9 10 11.... and it is suppose to show the years. I can't figure out how to change these values ...

Microsoft Money Deluxe 2004 #2
How do I install on a drive other than C? I am running Windows XP Home Edition. In microsoft.public.money, Don wrote: >How do I install on a drive other than C? I am running Windows XP Home >Edition. Early in the install process, Money has a place to click to change where the installation is to take place. If you install in a drive other than the system drive, there could be an issue. I was thinking there might be, but I don't find a reference. http://support.microsoft.com/kb/79917/en-us implies that should work. There is no problem. I have always installed Money (from M...

How do I get deleted items that stay in inbox with line thru them.
I inherited a computer at work. Outlook is setup so that when I delete a message it stays in the inbox, with a line thru it. How do I get the deleted items to go automatically to the deleted item folder? "rwwhit" <rwwhit@discussions.microsoft.com> wrote in message news:7D17761E-CD1B-4D04-BACB-B0D837C4DD93@microsoft.com... >I inherited a computer at work. Outlook is setup so that when I delete a > message it stays in the inbox, with a line thru it. How do I get the deleted > items to go automatically to the deleted item folder? That's normal behavior...

Outlook 2003
I used to be able to do this in Outlook 2000. The string will be in either the subject or text body...or both. For example: looking for an email message about a specific invoice number 12345. Now, it does not find the number even when I know it's there....and can find it by hunting on my own. Thanks for any help you can offer~ "Hello_It''''s_Me-CA" <HelloItsMeCA@discussions.microsoft.com> wrote in message news:B942C394-5363-49BE-AFB3-04E34C1CE4BF@microsoft.com... >I used to be able to do this in Outlook 2000. The string will be in either > t...

Publisher 2003 Viewer is needed
Can Microsoft create a free viewer program for .pub files like they have for the other programs in Office? Can they? Yes Will they? Unlikely Mike Larry M. in Illinois wrote: > Can Microsoft create a free viewer program for .pub files like they have for > the other programs in Office? Larry M. in Illinois <Larry M. in Illinois@discussions.microsoft.com> was very recently heard to utter: > Can Microsoft create a free viewer program for .pub files like they > have for the other programs in Office? Could they? Yes Is it profitable for them to do so? Probably not. W...

Money 2005 Closes Abruptly
I am using Money 2005 Premium and all of a sudden everytime I perform an update now, the program closes immediately for no known reason. Any changes I made are still there when I open the program again, but I cannot execute an update now on various accounts. Any ideas or help? Thanks I figured a work around. Selecting one or two updates at a time works, but doing all accounts and investment stuff at the same time causes the program to immediately shut down. "Dig" wrote: > I am using Money 2005 Premium and all of a sudden everytime I perform an > update now, the pro...

Outlook 2003 #224
When I print from Outlook I get the following screen: A dialog box opens and says An error has occurred in the script on this page Line: 1344 Char: 1 Error: Unspecified Error Code: 0 URL: res://C:\WINDOWS\System32\shdoclc.dll/preview.dlg All other applications work. Bob 5132361210 ...

Outlook 2003 hyperlinking error
Have just installed Outlook 2003, when I click on a html link within an email it opens my default web browser however the link appears in the browser with these additional symbols which stop the requested site from loading eg: http://%1%20http://www.microsoft.com Does anyone know how to fix this problem? Its driving me nuts. ...

Visio 2003: Custom Toolbars disappear
Sorry for the cross-posting, but I didn't get any responses in the visio.troubleshoot NG. I recently upgraded to Visio 2003 and have a perplexing problem. When I create a custom toolbar--or even when I customize a standard toolbar--they do not appear the next time I load Visio. Any ideas? I'm getting tired of recreating my custom toolbar every day! Thanks, Dave Go to View/Toolbars/ and you should see the list of customized toolbars you have made at the bottom of the menu. Selecting them will make them appear I tried to duplicate the problem you are having with seeing a standard ...

Using XP Briefcase with money file
I put a copy of my money file into the laptop briefcase and I am able to keep them in sych for a while. For some reason I get locked out, the computer knows the file has been updated but it will not let the desk top file update the laptop file, I get the following message; "The source file can not be opened" "Check to see if the other program has the file opened, and close the file before updating the briefcase." Other files update just fine. When I get this message, I can't even drag a new copy of the Money file to my briefcase, I have to rename the file an...

Money plus Deluxe Where do I find Balance sheet and Profit and Los
I have Money Plus Deluxe ver 7.0120.1415 My new accountant asked me to print out the balance sheet (aka Assets, Liabilities, and Equity) and the Income statement (Profit and Loss) reports? Where do I find them? Does Money Plus Deluxe have them? In microsoft.public.money, bigwahoo wrote: >I have Money Plus Deluxe ver 7.0120.1415 My new accountant asked me to print >out the balance sheet (aka Assets, Liabilities, and Equity) and the Income >statement (Profit and Loss) reports? Where do I find them? Does Money Plus >Deluxe have them? Go to the Reports list, and look around. T...

Works in 2003 but not 2007
When I reference the below function in 2003 I get function displayed... now in 2007 I get #NAME? Any idea what I need to change/set in 2007 so it will run this function? Function formulaText(x As Range) 'returns the text equivalent of formula in upper left cell in range x 'example: =formulatext(a1) returns the formula found in cell a1 of active worksheet 'example: =formulatext(a1:b5) returns the formula found in cell a1 of active worksheet formulaText = x.Cells(1, 1).Formula End Function Thanks, Mark Mark, It works fine for me. Are you stored in a stan...

Carriage Return/Line Feed Problem
Hi guys, I wrote some code that gets the HTML from a Web page and stores it in a buffer, then I display the buffer in a big multiline CEdit box. The problem is that on many pages I don't get new lines, I just get a thick solid verticle line kinda like this: || where it should return. Also, if I view the pages (view source) in Notepad they look fine. Most pages do that, but interestingly Microsoft pages do the proper new line and look great in my edit box. Maybe I have to replace all the \r with \r\n or something like that ? Does a \r\n still only take up 1 char ? I download the page in...

Publisher 2003 files try to open in Publisher 97 #2
Back again, but with a different Pub 2003/Pub97 issue Have Office 2003 with Publisher 2003 and Publisher 97 both on my XP Pro system Recently I find that files created in Pub 2003 are being saved as files with the Pub 97 Logo, and when you try to open them from the file listing, they open Pub 97, which correctly posts a box telling me that it cant open the files. If I use Publisher 2003 to open the same files from within the application the work fine. When I select a 2003 Pub file which contains the Pub 97 icon, the file list does not contain Publisher 2003, but when I browse and locat...

Add a horizontal line to a graph but not to the legend
I want to be able to add horizontal lines to my chart, in this case at 4% and 6% on the y-axis. The solutions I've seen so far suggest to add a series at these points. The problem is that when I add a seires, my legend shows the new series when I don't really want them to. Is there a really simple way that I've overlooked so that I can just add a line at one y-value and all the x values on the graph and not have it appearing in the legend? Thanks I have just tested inserting an extra series in both xl2002 and xl2007 and if you select the legend and then select the indiv...

Outlook 2003 Personal Address Book forwarding problem
This Outlook 2003 is connected to a Exchange 5.5 Server The problem is this, everytime I try to forward any e-mail and use any distribution list on the Personal Address Book it does not want to send the e-mail but if I try to send it any other way it works fine. Thanks ...

How to get rid of a "line" in Word
If I type a number of dashes in Word and press Return it automatically gets changed into a continuous line. How do I later remove such a line? Sometimes if I delete the text line above it then the line also goes but often I just can't get rid of it. I have to resort to creating a new document and then copy/paste the god bits over and then delete the old document. Thanks. -- Les Desser (The Reply-to address IS valid) In news:lzqSlgmVscxLFAoG@dessergr0up.invalid, Les Desser <NewsDump1@dessergroup.com> typed: > If I type a number of dashes in Word and press ...

Money 2006 Standard Settings/Preferences
Greetings All. Could anyone tell me where the setting is in Microsoft Money 2006 Standard is to stop it from putting the banks downloaded names in the list of payees? When entering a transaction in the "Pay To" list that drops down, it seems to be showing every downloaded entry name from the bank when I thought that I have my preferences set to use the user names for transactions. This is very annoying as every time lately that I have been downloading transactions and making new entries into the ledger it seems that the payee list gets longer and longer! This is what I am u...

HTML view with outlook and pocket pc 2003
When I download email from a pop3 server, the messages are displayed only in text format not in HTML format, i can't see the images in the email, I only see lines or dashes. Check with microsoft.public.pocketpc for help with PPC. --� Milly Staples [MVP - Outlook] Post all replies to the group to keep the discussion intact. Due to the Swen virus, all e-mails sent to my actual account will be deleted w/out reading. After searching google.groups.com and finding no answer Mike Mikhail <smikhail@socal.rr.com> asked: | When I download email from a pop3 server, the messages | are d...

Outlook 2003 Reply Signature
When replying or forwarding an e-mail, the typed text follows the settings I have set in Tools> Options> Mail Format> Fonts, however the signature picks up the font from the senders e-mail. I have edited and saved the signature several times, but for some reason I cannot get it to provide a fixed font. The style is "Normal" which for my computer is set to Times New Roman, however, when responding, it converts to whatever the normal style was in the senders e-mail. This happens for all mail I respond to, even ones that I originated and were sent back to me....

Can't open My Money 2000
Hello all, Version 4.90.3, Windows ME I am not sure if this is the proper newsgroup for this program, and if not, I do apologize. I have My Money 2000 on my computer, it came with the original install when I bought my computer. For some reason, I have not been able to open the program since last Sunday. I only use this for my personal check registry, and have all my records and such backed up to a floppy and a separate folder. I went to the folder that has the My Money files and tried to reinstall it by using the Setup, but, it says 'Setup could not open the file: C:\APPLZIP\MONEY\MONE...

Access 2003 and Sharepoint
My company is moving most of our files into Sharepoint -- however, it seems no one could explain how Sharepoint is going to affect our current Access database. Can someone please enlighten me regarding Sharepoint and how it will benefit us if our Access database is stored in it? Will it make accessing the database faster through our network? Right-now our database is stored in a network drive and depending on where we are located from the server -- it may take long to accesst the data. Or any sites that will help explain the process of Sharepoint. Thank you, Sharon You cannot store your A...

Script to audit windows 2003 servers
I am looking for a powershell script which we allow me to audit my physical servers which are in a specific network. Is this possible to do. The information I need for the server is as following: Model number - amount of RAM - amount and speed of CPU's - local storage - amount of nics - amount of HBA - installed OS And the subnet the servers are in is 172.16.40.0/21. Is there a way I can run one script to get all this information. It will of course require remote access to these servers. Also the servers are all windows 2003 SP2. An...