Here's how I was doing it. I used one of the Mortgage calculators to create an amortization table pdf file.
I created two accounts. A loan account for the principle. A cash account for the escrow. I would make my payment to the mortgage bucket and split it into principle, interest, escrow getting the amount from the amortization table. I would still show the mortgage bucket for each split. But I could of created extra buckets. (but I'm trying to minimize the number of buckets I have). After creating this split transaction, I would go each of the transaction splits in the (transactions list in the middle) and show them as transfers. The split I made for escrow I would make it a transfer to my escrow account. The split I made for principle I would make a transfer to my principle account. That let me see how much I owed and how much I had in my escrow. But it took a couple of minutes to do all these steps. I was getting tired of doing this manual work. So left a message in the forum asking how others kept up with their mortgage. Kevin replied and told me he just shows a payment to the mortgage bucket. If he needed details he could go online and get them. I thought about this for a couple of days. Trying it in the beta this next month. I think I'm going to keep doing it this way. Moneywell, in my eyes, is about simplicity. The KISS rule applies for me. So I got the number of buckets down to 22. If I need details I got paper statements and websites I can go to. Mark On Oct 26, 3:53 pm, mjcloud <[EMAIL PROTECTED]> wrote: > I am testing out Moneywell and love the bucket approach -- been > looking for something like that for a while. I find that financial > software tend to either do a good job of tracking one's finances > (backward looking) or planning (forward looking) one's finances. Of > course, it would be nice if one did both. > > I am playing around with loan payments from my checking account to the > loan account I created. The problem is that the entire payment is > applied to the balance - without accounting for interest. My monthly > loan payment is drafted automatically so I don't know how much -- or > how to go about -- distinguishing between principle applied to the > balance and the loan payment made (principle and interest). > > I have used MS Money for several years (does a good job of tracking, > horrible job of helping plan). It auto-figures for monthly interest > based on loan term entered when you create your loan account. > > Trying to make Moneywell work for me. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "No Thirst Software User Forum" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
