Thanks so much. Very helpful.
> Date: Mon, 27 Oct 2008 05:09:08 -0700 > Subject: [No Thirst Software] Re: Loan // Principle and Interest > From: [EMAIL PROTECTED] > To: [email protected] > > > 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. > > _________________________________________________________________ Want to read Hotmail messages in Outlook? The Wordsmiths show you how. http://windowslive.com/connect/post/wedowindowslive.spaces.live.com-Blog-cns!20EE04FBC541789!167.entry?ocid=TXT_TAGLM_WL_hotmail_092008 --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
