Money: Autobalance Feature for Credit Card Accounts (180218)
The information in this article applies to:
- Microsoft Money 99
- Microsoft Money 98
- Microsoft Money 98 Deluxe Edition
- Microsoft Money 98 Financial Suite
This article was previously published under Q180218 SUMMARY
Microsoft Money 98 and Money 99 have a new AutoBalance feature for credit
card accounts. This feature offers the choice of balancing the account
without entering individual transactions into the Account Register.
MORE INFORMATIONWhat Is the AutoBalance Feature?
When creating a credit card account, the New Account Wizard asks "Would you
like Money to Auto-Balance this account for you?" If you click "I will not
keep track of individual credit card charges", Money turns on the
AutoBalance feature. We recommend that you use this feature if you usually
pay the entire balance off each month, and prefer not to track individual
charges.
AutoBalance ensures that you get the same benefits as those who track every
transaction. These benefits include having an accurate net worth, and
knowing where your money goes, for example interest and service charges.
Money also uses this option to gather information about credit habits and
financial status to help with advice on debt reduction.
NOTE: This feature is only available for Credit Card accounts.
When Does AutoBalancing Occur?
AutoBalancing occurs when you open the Credit Card wizard, select the
Credit Card Payment category, and select a credit card account that has
AutoBalancing turned on. It also occurs when you create a Transfer to a
credit card enabled with AutoBalance.
NOTE: To temporarily turn off the AutoBalancing feature, click to select
the "Disable AutoBalance For This Transaction Only" check box that appears
during this process.
When AutoBalance is on, you can still enter transactions in the Account
Register. During the AutoBalance process, Money marks these transactions
as reconciled if they occur within the statement period. Money then
calculates the Account Adjustment transaction accordingly.
If you want to manually balance the account, click the Balance This Account
button (or the Balance button in Money 98) in the Account Register area.
NOTE: AutoBalance is not available for credit cards enabled for Online
Services. If you enable one of these accounts for Online Statements and
AutoBalance is turned on, Money turns AutoBalance off. The AutoBalance
account option is also removed from the Account Details area.
References
For information about AutoBalancing, please see the following articles in
the Microsoft Knowledge Base:
171345 Money: How AutoBalance Calculates the Account Adjustment
171349 Money: AutoBalance Not Available for Online Credit Accounts
| Modification Type: | Major | Last Reviewed: | 1/5/2005 |
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| Keywords: | kbFEA kbinfo KB180218 |
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