My dad lives in the townhouse I own, 3,000 miles from where I live (rent) now. He used to pay the mortgage company directly, to save me the time, but he didn't manage to stay current, so it nearly went into forclosure. Now, he pays me the regular payment, and I pay them. In a payment plan, to save the house, I pay, out of pocket, an initial $3500 and an extra $400/mo for 5 months on top of the regular payment. All of that, he will be owing me.
I'm wondering how best to track this in MoneyWell. I'm thinking the money he owes me is an asset, so an account with a positive balance, but with that money "spent" out of a bucket, so it's not seen as available in a bucket. I'm thinking I'll create a transfer for each mortgage payment, with the payee on the checking side of the transaction set to the mortgage company, with a bucket of rent/mortgage, into the account for my dad. On his account end of the transaction, I leave it with no bucket, then create a withdrawal from his account of the regular mortgage payment amount, leaving the remainder, what he owes me, in his account. That withdrawal would also have no bucket, since the money in that "account" was already "spent". Does that make sense? How would others approach a situation like this? Thanks. -- Chris Larson clarson at kergoth dot com clarson at mvista dot com Founder - BitBake, OpenEmbedded, OpenZaurus Maintainer - Tslib Software Engineer MontaVista Software, Inc. --~--~---------~--~----~------------~-------~--~----~ 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
