tag:infinitekind.tenderapp.com,2009-01-14:/discussions/suggestions/200-loan-payments-should-allow-more-than-3-splitsInfinite Kind: Discussion 2018-05-11T07:31:50Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/4471762009-10-10T20:34:24Z2009-10-10T20:34:24ZLoan payments should allow more than 3 splits<div><p>Hi David</p>
<p>There is an existing ticket for this suggestion in our issue and
suggestion tracking system. Here is the link:</p>
<p><a href=
"http://moneydance.com/trac/ticket/2029">http://moneydance.com/trac/ticket/2029</a></p>
<p>If you register and log into trac you can vote on tickets. We
use the number of votes tickets get to help us prioritise
development.</p>
<p>Sincerely</p>
<p>Ben Spencer</p></div>Ben Spencertag:infinitekind.tenderapp.com,2009-01-14:Comment/4471762009-10-10T23:47:07Z2009-10-10T23:47:07ZLoan payments should allow more than 3 splits<div><p>Hi Ben,</p>
<p>Ok, I voted for it. Given that I have to edit my "automatic"
monthly mortgage payments anyway because MD is messing up the
principal/interest split (see my other ticket <a href=
"http://help.infinitekind.com/discussions/problems/358-loan-account-does-not-apply-principalinterest-split-it-calculates">
http://help.infinitekind.com/discussions/problems/358-loan-account-...</a>
), maybe I will just cancel the scheduled transaction through the
loan account and set up a standard scheduled transaction for the
payment. At least it will have the right number of splits.</p>
<p>David</p></div>ds4854tag:infinitekind.tenderapp.com,2009-01-14:Comment/4471762011-04-10T06:04:33Z2011-04-10T06:04:34ZLoan payments should allow more than 3 splits<div><p>I agree with Ben. I'm trying to convert to MD from MS Money now
that I'm on a Mac. Between the loan and the paycheck, I'm finding
the conversion incredibly frustrating.</p></div>Lindatag:infinitekind.tenderapp.com,2009-01-14:Comment/4471762011-04-10T06:05:18Z2011-04-10T06:05:20ZLoan payments should allow more than 3 splits<div><p>I agree with David. I'm trying to convert to MD from MS Money
now that I'm on a Mac. Between the loan and the paycheck, I'm
finding the conversion incredibly frustrating.</p></div>Lindatag:infinitekind.tenderapp.com,2009-01-14:Comment/4471762011-04-15T15:28:52Z2011-04-15T15:28:52ZLoan payments should allow more than 3 splits<div><p>At least in the US, the OP's problem statement is incorrect.
While I have no objection to additional splits on mortgage
payments, the US IRS is very explicit that property tax is
deductible in the year that the escrow account pays the taxing
authority, NOT when the homeowner pays the escrow account. Even if
the mortgage servicer separates the tax, insurance and reserve on
the statement, this is FYI and is not how the escrow account works
legally.</p>
<p>The correct way to handle this in MD is to set up the escrow as
a separate account in MD (type bank), split the entire escrow part
of the month payment into the escrow account, and then record tax
and insurance payments from the escrow account when the mortgage
servicer notifies you that it has paid them. (You'll probably have
to consult a statement, as they won't provide a separate
notification.) This results in the MD representation of the escrow
being exactly how the escrow account is really handled, despite the
splits shown on your statement.</p>
<p>Edward</p></div>paleolith