Tracking transfers between accounts (Money 2003 Deluxe)

Anuranjan Singh · Joined: 02 Aug 2007 Posts: 1

Hello everyone,

I have two accounts (saving and checking) at my bank, and I have online
banking through which I have setup an automatic weekly transfer from
checking to saving account.

Inside Money 2003, I have configured 2 accounts (checking and savings) to
record transactions from my bank, I setup initial balances in both checking
and saving, and imported all the relevant statements in each account. My
problem is that when I try to set the "category of trasaction" in my
checking account as a transfer to saving, it caused new transaction to be
added in my savings account.
This caused the increase in my balance in saving which is not true. I just
want to associate two transactions one in checking, other in savings, so
that catagorization can be correct in both, and it will not change the
balance.

Any ideas how to resolve this, this is really annoying. Any help would be
kindly appriciated.

sincerely,

Anu

Archived from group: microsoft>public>moneycentral

CC · Joined: 02 Aug 2007 Posts: 1

Hi Anu,

This is what should happen. If you set up an automatic
weekly transfer from savings to chequing at your bank,
your savings will go up by that amount every week and your
chequing will go down.
In Money, you have probably setup an automatic deposit to
savings, then added the transfer from chequing to savings,
which is likely then showing two instances of deposits to
your savings account, when you only want the one
instance.
The transfer fr chequing to savings entry, which affected
both accounts is the correct one. You should delete the
deposit only entry to the savings account.
If this is not what you did, then repost again.

CC.

>-----Original Message-----
>Hello everyone,
>
>I have two accounts (saving and checking) at my bank, and
I have online
>banking through which I have setup an automatic weekly
transfer from
>checking to saving account.
>
>Inside Money 2003, I have configured 2 accounts (checking
and savings) to
>record transactions from my bank, I setup initial
balances in both checking
>and saving, and imported all the relevant statements in
each account. My
>problem is that when I try to set the "category of
trasaction" in my
>checking account as a transfer to saving, it caused new
transaction to be
>added in my savings account.
>This caused the increase in my balance in saving which is
not true. I just
>want to associate two transactions one in checking, other
in savings, so
>that catagorization can be correct in both, and it will
not change the
>balance.
>
>
>Any ideas how to resolve this, this is really annoying.
Any help would be
>kindly appriciated.
>
>sincerely,
>
>
>Anu
>
>
>
>.
>