Using Memorized Transactions

 

When a memorized transaction is coming due a notice will appear in the Income & Expense main screen below the Quick Entry. The notice will tell you how many transactions are currently due - 

 

 

Click on the words Transaction(s) Due and the Memorized Transactions window will appear -

 

Any transactions that are due will be highlighted in red, click on Do Transaction to create a new transaction for that item. You'll then get the Verify box -

Click Do Transaction to create the transaction or Cancel to cancel the transaction.

 

LOAN TRANSACTIONS - the program will use the information entered in the Long Term Liability section when you opened the account to determine the interest and principal. This uses 'simple interest' for the calculations, so while it will probably be fairly close it will not be an exact match for your payment. Check with the lender for the exact principal & interest, this is available on the internet for most lenders now days, so learn how to check the account each month and update the payment and interest in the Split Entry. This will keep your Liability balance accurate and insure that the interest expense is correct and current.

 

To edit the split transaction once you have the actual numbers simply open the Transaction, click the Split Transaction link and then click the EDIT link in the Split Screen -

 

 

and the Edit Split screen will appear.

Correct the amount and click SAVE. The transaction will then be out of balance so edit the Expense entry as well. When the transaction is back in balance click Ok to exit the split screen and you're payment will be completed. It's best to do this monthly as catching up can sometimes be a problem.