Microsoft Money does not link loan accounts to 401(k)
accounts. This article describes how to track a loan from a 401(k) account.
To track a loan from a 401(k) account, follow these steps:
- Create a 401(k) Investment account with an associated Cash
(contribution) account.
- When you add a transaction or split transaction to the
401(k) Investment account, add the transaction amount to the 401(k) Cash
account.
- When you borrow from the 401(k) Investment account,
withdraw the transaction amount from the 401(k) Cash account or transfer the
amount from the 401(k) Cash account to a checking account.
- If you have automatic deductions to repay the loan from
your paycheck, add a loan repayment line in the Split transaction.
If you pay the loan manually, deposit your loan payments in the 401(k) Cash
account. - For interest payments with a split paycheck, you need to
create an Interest payment category in the split paycheck and transfer the
principal amount to the 401(k) Cash account.
If you pay the loan
manually, transfer the entire amount to the 401(k) Cash account and then create
a separate transaction in the 401(k) Cash account to pay the
interest. - Use the 401(k) Cash account for any investment purchase
(Buy Investment) transactions.
- Use the 401(k) Investment account to reinvest interest or
dividends, to update share prices, and to split shares.
Back to the top
