Help: How to transfer money from loan account?


M

Mark

Hi,

Money 2003:

I have a bank account that has an associated loan account. I can
transfer money from the loan account to my current account when I
wish. However I cannot figure out how to tell money about this.

If I set up a loan account with money then it won't let me transfer
money from this account to my current account!!!! It won't let me
set up a loan account with 0 balance, and if I try to set up a loan
with the actual amount borrowed then I can't figure out how to tell it
the money is now in my current account.

Please advise,
Mark
 
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J

John W

Mark said:
Hi,

Money 2003:

I have a bank account that has an associated loan account. I can
transfer money from the loan account to my current account when I
wish. However I cannot figure out how to tell money about this.

If I set up a loan account with money then it won't let me transfer
money from this account to my current account!!!! It won't let me
set up a loan account with 0 balance, and if I try to set up a loan
with the actual amount borrowed then I can't figure out how to tell it
the money is now in my current account.

Please advise,
Mark
I have a Cahoot loan that lets me do this, I've set it up as a Liability
rather than a loan.
 
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G

Glyn Simpson, MVP

Set up a deposit using a category of Loan Principal Received. I am well away
from any copy of Money at the moment and cannot check whether it's under
special categories or Other Income.

You might (and again I can't check), set up a negative principal transfer
which might allow it. Never tried it myself though, and I'm not sure whether
Money will allow it.
 

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