Help setting up transaction...

Looking for some assistance setting up a transaction for a home equity line.
I searched the web and the Money help files and could not find a solution.

I have my checking account and home equity line set up in Money 2005.

I want Money to record a credit in the "line" when I make a payment in my
check register. I figured out how to set up a recurring bill that will do
this, however it records both the interest and the principal. I need it to
only record the principal portion of the payment in the "line" account.

Example:

I payed $520.00 out of checking to my line. $500 was principal and $20 in
interest. My check register needs to show the $520, but the "line" should
only show $500.

This is how it is actually done at the bank. My current balance does not
reflect the finance charge as that is my minimum monthly payment.

Any help would be appreciated.

Jason

Dick
Thu Feb 03 12:53:40 CST 2005

Most people find it easiest to work this like a credit card. Add the
interest charge in the HELOC account as an expense transaction. Payments are
treated as a transfer to the HELOC without regard to the interest
transactions.

"Jason" <jasonrn@comcast.net> wrote in message
news:3dSdnWJky9wr0J_fRVn-jA@comcast.com...
> Looking for some assistance setting up a transaction for a home equity
line.
> I searched the web and the Money help files and could not find a solution.
>
> I have my checking account and home equity line set up in Money 2005.
>
> I want Money to record a credit in the "line" when I make a payment in my
> check register. I figured out how to set up a recurring bill that will do
> this, however it records both the interest and the principal. I need it
to
> only record the principal portion of the payment in the "line" account.
>
> Example:
>
> I payed $520.00 out of checking to my line. $500 was principal and $20 in
> interest. My check register needs to show the $520, but the "line" should
> only show $500.
>
> This is how it is actually done at the bank. My current balance does not
> reflect the finance charge as that is my minimum monthly payment.