How to setup a Line of Credit in MSM 2004 SE

I have just applied for a Line of Credit which allows me to borrow a =

certain amount whenever I need it. The LOC is interest bearing account =
=

and only the interest portion needs to be paid; principle amount can be =
=

paid off any time. Since the LOC payment schedule depends on when I =

borrow and how much I borrow I can not perdetermine all the information =
=

MSM asks for at the time of setting up a Loan account. How can I set th=
e =

LOC account?

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Art
Sat Jul 01 18:51:29 CDT 2006

Since you do not know the amount owed, and as you say will not have a
regular payment schedule; I normally set them up as a "credit Card". i
set the maximum limit to the amount of the line of credit. I then
manually enter the interest if the bank does not down load it in an OFX
file.

masai wrote:
> I have just applied for a Line of Credit which allows me to borrow a
> certain amount whenever I need it. The LOC is interest bearing account
> and only the interest portion needs to be paid; principle amount can be
> paid off any time. Since the LOC payment schedule depends on when I
> borrow and how much I borrow I can not perdetermine all the information
> MSM asks for at the time of setting up a Loan account. How can I set
> the LOC account?
>