Making reports in money manager ex how to#
This demonstrates how to set up and use the accounts, but it also highlights short comings in the reports. This allows us to show us the current balances, how much we owe, and how this affects maintain accounts.
**We may wish to use a different category for the transfer Transfer: Account: Savings to Account Term:Auto Loan $500, **Category: Auto: Loan Repayment When a payment is made, we also need to transfer money from our regular account to our Term Account: Auto Loan Repayments: Transactions: Term: Auto Loan - Withdrawal $500 Payee=Bank, category=Auto: Loan Repayment Account Term: Auto Loan - Deposit $10,000 Payee=Bank, category=Auto: Bank Loanīank Interest: Transactions: Term: Auto Loan - Deposit $100 Payee=Bank, category=Auto: Loan Interest Categories:Īssuming loan amount for $10,000 with repayment $500 per month, interest at $100 per month. This now allows us to create categories in order to track this. We also need to make payments to the bank The Bank - Gives us the loan and gives us interest payments.
This separates money being confused with our regular accounts such as Savings Cheque and MasterCard credit accounts. For our Auto loan, we need to set up an account in Term accounts. In order for us to be able to track something we need to set up an account. Money moves around in our system as Transfers and therefore is not accounted.įor a loan, money comes in but is not Income in the true sense, and Money go out of our regular accounts.īank Accounts track our regular accounts, and Term Accounts track our other non regular accounts. Money comes In( Deposit) -> ("Our System") -> Money goes Out (Withdrawal)
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