Loan Account does not show up

I've created a Loan Account. But when I try to show a payment as a transfer
to that loan account (from my checking account), it does not show up on the
drop-down box as an account I can pick. All the other accounts on my account
list show up except this one. What is going on?

via_newsgroup
Sat Oct 16 13:42:42 CDT 2004

In microsoft.public.money, Leenman wrote:

>I've created a Loan Account. But when I try to show a payment as a transfer
>to that loan account (from my checking account), it does not show up on the
>drop-down box as an account I can pick. All the other accounts on my account
>list show up except this one. What is going on?

Try entering the payment from the register of the Loan Account, or
use the special Loan Payment category.

Leenman
Sat Oct 16 13:57:04 CDT 2004

The loan name doesn't show up even on the drop-down box from within the
register of the loan account itself.

Why isn't it showing up? It's in the account list.

"Cal Learner-- MVP" wrote:

> In microsoft.public.money, Leenman wrote:
>
> >I've created a Loan Account. But when I try to show a payment as a transfer
> >to that loan account (from my checking account), it does not show up on the
> >drop-down box as an account I can pick. All the other accounts on my account
> >list show up except this one. What is going on?
>
> Try entering the payment from the register of the Loan Account, or
> use the special Loan Payment category.
>

Leenman
Sat Oct 16 14:05:06 CDT 2004

I assume you mean by "special loan payment catergory" that I should NOT
choose transfer, but withdrawal instead. Then in Payee put my Bank's name and
for the Category then choose Loan Payment: [name of loan]. Is this what you
mean?

When I do that, it automatically puts in a huge split of principal and
interest that is far above the amount of the payment itself (the payment is
only $100.00, but the splits it puts in automatically are over $500.00).

I don't understand what's going on, here.

"Leenman" wrote:

> The loan name doesn't show up even on the drop-down box from within the
> register of the loan account itself.
>
> Why isn't it showing up? It's in the account list.
>
> "Cal Learner-- MVP" wrote:
>
> > In microsoft.public.money, Leenman wrote:
> >
> > >I've created a Loan Account. But when I try to show a payment as a transfer
> > >to that loan account (from my checking account), it does not show up on the
> > >drop-down box as an account I can pick. All the other accounts on my account
> > >list show up except this one. What is going on?
> >
> > Try entering the payment from the register of the Loan Account, or
> > use the special Loan Payment category.
> >

via_newsgroup
Sat Oct 16 14:09:10 CDT 2004

In microsoft.public.money, Leenman wrote:

>The loan name doesn't show up even on the drop-down box from within the
>register of the loan account itself.

Did you try to enter a transaction into that register? Didn't it ask
if you want to enter a loan payment?

Was the Loan Payment special transaction available to you if you
enter the payment from your Checking account?

What program are you using?


>
>Why isn't it showing up? It's in the account list.

I guess you would find it a circular statement to say because its in
a Loan/Liability account rather than a bank/cash/creditcard account.


>
>"Cal Learner-- MVP" wrote:
>
>> In microsoft.public.money, Leenman wrote:
>>
>> >I've created a Loan Account. But when I try to show a payment as a transfer
>> >to that loan account (from my checking account), it does not show up on the
>> >drop-down box as an account I can pick. All the other accounts on my account
>> >list show up except this one. What is going on?
>>
>> Try entering the payment from the register of the Loan Account, or
>> use the special Loan Payment category.
>>

Leenman
Sat Oct 16 14:35:20 CDT 2004

I'm using Money 2003.

Yes, I was able to do it from the registry of the loan itself.

However, the payment is something I'm doing online, so I would like to do it
from the side of my checking account (so I can just click accept). When I do
it from the checking account (and yes, it does allow me to pick Loan
Payment), it automatically puts in split transactions (which I'm not asking
it to), that are far above the amount I'm trying to pay: i.e., the payment is
for $100.00 and that is what is in the Amount field, but the splits are for
around $500.00. I think it may be taking the yearly payments of this loan
that I put in at the beginning and trying to always have the splits equal
that. How do I fix that?

And thanks for your help. Much appreciated.


"Cal Learner-- MVP" wrote:

> In microsoft.public.money, Leenman wrote:
>
> >The loan name doesn't show up even on the drop-down box from within the
> >register of the loan account itself.
>
> Did you try to enter a transaction into that register? Didn't it ask
> if you want to enter a loan payment?
>
> Was the Loan Payment special transaction available to you if you
> enter the payment from your Checking account?
>
> What program are you using?
>
>
> >
> >Why isn't it showing up? It's in the account list.
>
> I guess you would find it a circular statement to say because its in
> a Loan/Liability account rather than a bank/cash/creditcard account.
>
>
> >
> >"Cal Learner-- MVP" wrote:
> >
> >> In microsoft.public.money, Leenman wrote:
> >>
> >> >I've created a Loan Account. But when I try to show a payment as a transfer
> >> >to that loan account (from my checking account), it does not show up on the
> >> >drop-down box as an account I can pick. All the other accounts on my account
> >> >list show up except this one. What is going on?
> >>
> >> Try entering the payment from the register of the Loan Account, or
> >> use the special Loan Payment category.
> >>
>
>

Leenman
Sat Oct 16 14:47:01 CDT 2004

And maybe to be a little more clear....When I'm entering it from the side of
the checking account, I successfully enter the Category as you suggested as
follows -- Loan Payment:[name of loan]. So far so good. Then I press enter. I
get a message that says: The sum of the splits does not match the transaction
amount. For one, I didn't ask for a split transaction, but it's trying to
make one. Secondly, the split is much higher than the amount of the payment.
It is trying to split up this (much higher) payment between principal &
interest. How do I fix this?

This is a type of loan that is due yearly, but you can make extra payments
as you go along.

"Leenman" wrote:

> I'm using Money 2003.
>
> Yes, I was able to do it from the registry of the loan itself.
>
> However, the payment is something I'm doing online, so I would like to do it
> from the side of my checking account (so I can just click accept). When I do
> it from the checking account (and yes, it does allow me to pick Loan
> Payment), it automatically puts in split transactions (which I'm not asking
> it to), that are far above the amount I'm trying to pay: i.e., the payment is
> for $100.00 and that is what is in the Amount field, but the splits are for
> around $500.00. I think it may be taking the yearly payments of this loan
> that I put in at the beginning and trying to always have the splits equal
> that. How do I fix that?
>
> And thanks for your help. Much appreciated.
>
>
> "Cal Learner-- MVP" wrote:
>
> > In microsoft.public.money, Leenman wrote:
> >
> > >The loan name doesn't show up even on the drop-down box from within the
> > >register of the loan account itself.
> >
> > Did you try to enter a transaction into that register? Didn't it ask
> > if you want to enter a loan payment?
> >
> > Was the Loan Payment special transaction available to you if you
> > enter the payment from your Checking account?
> >
> > What program are you using?
> >
> >
> > >
> > >Why isn't it showing up? It's in the account list.
> >
> > I guess you would find it a circular statement to say because its in
> > a Loan/Liability account rather than a bank/cash/creditcard account.
> >
> >
> > >
> > >"Cal Learner-- MVP" wrote:
> > >
> > >> In microsoft.public.money, Leenman wrote:
> > >>
> > >> >I've created a Loan Account. But when I try to show a payment as a transfer
> > >> >to that loan account (from my checking account), it does not show up on the
> > >> >drop-down box as an account I can pick. All the other accounts on my account
> > >> >list show up except this one. What is going on?
> > >>
> > >> Try entering the payment from the register of the Loan Account, or
> > >> use the special Loan Payment category.
> > >>
> >
> >

via_newsgroup
Sat Oct 16 14:57:09 CDT 2004

In microsoft.public.money, Leenman wrote:

>I'm using Money 2003.
>
>Yes, I was able to do it from the registry of the loan itself.
>
>However, the payment is something I'm doing online, so I would like to do it
>from the side of my checking account (so I can just click accept). When I do
>it from the checking account (and yes, it does allow me to pick Loan
>Payment), it automatically puts in split transactions (which I'm not asking
>it to), that are far above the amount I'm trying to pay: i.e., the payment is
>for $100.00 and that is what is in the Amount field, but the splits are for
>around $500.00. I think it may be taking the yearly payments of this loan
>that I put in at the beginning and trying to always have the splits equal
>that. How do I fix that?
>
>And thanks for your help. Much appreciated.

I think that what would normally happen is that you would modify the
downloaded transaction before accepting it, and set the category to
LoanPayment:nameOfLoan. Then it might say something about the splits
being off. You adjust. Then it may ask if you would like the series
modified. Or it may be the matter of indicating

I have not had quite that kind of loan situation come up myself.
Perhaps somebody else will be able to give you more specific
guidance there.

via_newsgroup
Sat Oct 16 15:29:46 CDT 2004

In microsoft.public.money, Leenman wrote:

>And maybe to be a little more clear....When I'm entering it from the side of
>the checking account, I successfully enter the Category as you suggested as
>follows -- Loan Payment:[name of loan]. So far so good. Then I press enter. I
>get a message that says: The sum of the splits does not match the transaction
>amount. For one, I didn't ask for a split transaction, but it's trying to
>make one. Secondly, the split is much higher than the amount of the payment.
>It is trying to split up this (much higher) payment between principal &
>interest. How do I fix this?
>
>This is a type of loan that is due yearly, but you can make extra payments
>as you go along.

In the register for the loan, clicking
AnalyzeLoan->ViewLoanAmortizationSchedule, in the left column,
should give Money's expectations of what the loan payments are to
be.