Money 2005

Perhaps I don't quite understand how to use Money, it's all new to me but
this is my question, When I create an invoice and I receive that invoice into
my business account it shows as "payment for invoice" but when the check for
that invoice is deposited into my bank it shows up as 2 deposits when I
download info from the bank. I can't get them to "match" as the "payment for
invoice" does not show as an income. Am I missing something?
--
Any help will be greatly appreciated, MtnMaine

BillMac
Wed Jun 29 16:04:01 CDT 2005

I'm sorry to hear that you are having this problem because I had the same
issue with Microsoft Money small-business 2004 and reported it to Microsoft.
While they provided me a workaround, they also said that a fix would be
included in the upcoming new version.

Let me see if I can remember exactly how this workaround is supposed to
operate:

First, create a bank account called 'Invoice Payments Cash'. You can really
call it anything you want, that's the terminology that I use.

Now when you receive a payment for invoice you will go into your invoices,
select the invoice and click on receive payment. Make sure that you deposit
this in the invoice payments cash account ("where will you deposit the
payment").

Now do a transfer from the invoice payments cash bank account to your bank
account were you actually deposited the check. When Microsoft Money updates
itself with information from the bank, that deposit will be matched.

I hope I did not confuse you with this. I was completely dumbfounded when
Microsoft provided this workaround. This just shows a lack of planning on
their part. There are many other aspects of Microsoft Money where there is a
lack of logic or a lack of planning (for instance, you cannot use three
significant digits for the federal mileage allowance -- Microsoft Money only
accepts two significant digits -- isn't that stupid?). Even with these
foibles, I still find Microsoft Money better than Quicken, but I am rapidly
losing my patience.

Bill

"MtnMaine" wrote:

> Perhaps I don't quite understand how to use Money, it's all new to me but
> this is my question, When I create an invoice and I receive that invoice into
> my business account it shows as "payment for invoice" but when the check for
> that invoice is deposited into my bank it shows up as 2 deposits when I
> download info from the bank. I can't get them to "match" as the "payment for
> invoice" does not show as an income. Am I missing something?
> --
> Any help will be greatly appreciated, MtnMaine

MtnMaine
Wed Jun 29 17:09:10 CDT 2005

Bill, Thank you so much for the workaround but tell me one thing. I tried
doing this one deposit at a time and it won't let me. This has been going on
for some time and there is a significant amount in the "invoice payments". So
I come up with one lump sum that there is no way to match to any download.
Did that make any sense?
Merrie


"Bill Mac" wrote:

> I'm sorry to hear that you are having this problem because I had the same
> issue with Microsoft Money small-business 2004 and reported it to Microsoft.
> While they provided me a workaround, they also said that a fix would be
> included in the upcoming new version.
>
> Let me see if I can remember exactly how this workaround is supposed to
> operate:
>
> First, create a bank account called 'Invoice Payments Cash'. You can really
> call it anything you want, that's the terminology that I use.
>
> Now when you receive a payment for invoice you will go into your invoices,
> select the invoice and click on receive payment. Make sure that you deposit
> this in the invoice payments cash account ("where will you deposit the
> payment").
>
> Now do a transfer from the invoice payments cash bank account to your bank
> account were you actually deposited the check. When Microsoft Money updates
> itself with information from the bank, that deposit will be matched.
>
> I hope I did not confuse you with this. I was completely dumbfounded when
> Microsoft provided this workaround. This just shows a lack of planning on
> their part. There are many other aspects of Microsoft Money where there is a
> lack of logic or a lack of planning (for instance, you cannot use three
> significant digits for the federal mileage allowance -- Microsoft Money only
> accepts two significant digits -- isn't that stupid?). Even with these
> foibles, I still find Microsoft Money better than Quicken, but I am rapidly
> losing my patience.
>
> Bill
>
> "MtnMaine" wrote:
>
> > Perhaps I don't quite understand how to use Money, it's all new to me but
> > this is my question, When I create an invoice and I receive that invoice into
> > my business account it shows as "payment for invoice" but when the check for
> > that invoice is deposited into my bank it shows up as 2 deposits when I
> > download info from the bank. I can't get them to "match" as the "payment for
> > invoice" does not show as an income. Am I missing something?
> > --
> > Any help will be greatly appreciated, MtnMaine

BillMac
Thu Jun 30 08:35:07 CDT 2005

When you say it won't let you, what do you mean? Is there some type of error
message?

Your "payments" generated from the invoices and collected in the "invoice
payments Cash" account should be individual transactions. Then you a
transfer these one at a time over to your real bank account. If you happen to
deposit several checks together where the bank will consider this one large
deposit, then when your bank account information is updated, you will need to
combine the deposits into the one bank deposit. Do I make sense?

"MtnMaine" wrote:

> Bill, Thank you so much for the workaround but tell me one thing. I tried
> doing this one deposit at a time and it won't let me. This has been going on
> for some time and there is a significant amount in the "invoice payments". So
> I come up with one lump sum that there is no way to match to any download.
> Did that make any sense?
> Merrie
>
>
> "Bill Mac" wrote:
>
> > I'm sorry to hear that you are having this problem because I had the same
> > issue with Microsoft Money small-business 2004 and reported it to Microsoft.
> > While they provided me a workaround, they also said that a fix would be
> > included in the upcoming new version.
> >
> > Let me see if I can remember exactly how this workaround is supposed to
> > operate:
> >
> > First, create a bank account called 'Invoice Payments Cash'. You can really
> > call it anything you want, that's the terminology that I use.
> >
> > Now when you receive a payment for invoice you will go into your invoices,
> > select the invoice and click on receive payment. Make sure that you deposit
> > this in the invoice payments cash account ("where will you deposit the
> > payment").
> >
> > Now do a transfer from the invoice payments cash bank account to your bank
> > account were you actually deposited the check. When Microsoft Money updates
> > itself with information from the bank, that deposit will be matched.
> >
> > I hope I did not confuse you with this. I was completely dumbfounded when
> > Microsoft provided this workaround. This just shows a lack of planning on
> > their part. There are many other aspects of Microsoft Money where there is a
> > lack of logic or a lack of planning (for instance, you cannot use three
> > significant digits for the federal mileage allowance -- Microsoft Money only
> > accepts two significant digits -- isn't that stupid?). Even with these
> > foibles, I still find Microsoft Money better than Quicken, but I am rapidly
> > losing my patience.
> >
> > Bill
> >
> > "MtnMaine" wrote:
> >
> > > Perhaps I don't quite understand how to use Money, it's all new to me but
> > > this is my question, When I create an invoice and I receive that invoice into
> > > my business account it shows as "payment for invoice" but when the check for
> > > that invoice is deposited into my bank it shows up as 2 deposits when I
> > > download info from the bank. I can't get them to "match" as the "payment for
> > > invoice" does not show as an income. Am I missing something?
> > > --
> > > Any help will be greatly appreciated, MtnMaine