Mortgage payment budgeting

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Mortgage payment budgeting

Postby chrstdvd » Tue Jan 20, 2015 5:04 pm

I am trying to migrate to Ace Money from Quicken, but it works totally differently. The import of my Quicken file went well. I had some problems with the Unassigned account, but found the problems, corrected in Quicken and did the export/import process until the balance of the Unassigned account was 0 and all my account balances matched Quicken, then saved the file.

I searched the net today and found instructions to schedule paychecks, to set up and save budgets, to enter transactions in register, set budget amounts in Category Tab. I even figured out how to do a couple of transfers from my savings account to other savings accounts which were Savings Goals in Quicken.

For the life of me I can not find instructions for my mortgage to be scheduled with the Principal going into the Loan account. Well I must have figured that out because next months principal is pre-posted in the Mortgage Register. I can not figure out how to make that transfer show up in the budget.

I have three budgets, two have transfers. In one that is working now, I created a transfer Category to capture all the savings account transfers and it shows nicely in the in the budget when i pick the Account concerned and check transfers.

In the budget where my mortgage shows up I can not figure out how to get that transfer of principal into this budget

Any help?

Edit: I tried to join this forum today and it said my username already in use. So i logged in with it and my standard Forum PW and here I am. I knew I had tried this program before but I gave up on it. Had I have checked the Notify me when a reply is posted, I might have stuck with it.

Anyway Ace Money showed up as nr 1 of 10 best Financial Software packages for 2014, so I decided to try it. Most other Quicken deserters are trying Money Dance, because Amazon Reviews talk highly of it. The general chatter on Net does not talk so good about it, so I chose this platform
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Re: Mortgage payment budgeting

Postby RLebeau » Fri Jan 23, 2015 12:41 am

chrstdvd wrote:For the life of me I can not find instructions for my mortgage to be scheduled with the Principal going into the Loan account.


That topic is covered in the AceMoney FAQ:

How to track mortgage payments?

chrstdvd wrote:I can not figure out how to make that transfer show up in the budget.


I would have to double-check, but I don't think Transfers count towards budgets.
Remy Lebeau
Lebeau Software

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Re: Mortgage payment budgeting

Postby chrstdvd » Sun Jan 25, 2015 6:32 am

Thanks, you are correct about we can not get transfers to show up in budget. Looks like Quicken and YNAB are the only programs that allow Transfers into and out of accounts in the budget process. Again thank you.
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