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Microsoft Money Sunset Deluxe - Some (basic) questions RRS feed

  • Question

  • Hi everyone :-)

    I am a new user of Money and I would like understand something more about it.

    First of all, how many and where are (saving) Money files? For example, if I need to change PC or format it, which and how many files I have to back up? (I have to say, I am customizing all categories and sub-categories...so I'd like to save all those  informations)

    About it, can I customize categories group? 

    And can I have any report based on "Discretionary" and " Necessary" expenses? (Read the question as "Can I create (completly) new reports?")

    Does Money manage amortization of expesens or is it rigidly focused on cash flow? It could be interesting to assign some expense to more than one year (or month) instead one, couldn't be it?

    Why have I to enter gross income instead net one?

    Thanks a lot.

    Best regards,

    Paolo

    Thursday, October 19, 2017 7:59 AM

All replies

  • 1 - You can have as many files as you want.  Each has the file extension .mny.  Money will process only one file at a time.  When you open Money, it will attempt to process the same file it was using when you last closed the program.  You can change files using the File command on the menu bar.  You can also open any .mny file you want by double clicking it in Windows Explorer.  Money will also allow you to create backup files (with .mbf extension) using the Backup option of the menu bar File command.  You can place the files anywhere you have write access.  I believe most of us use a single file for all of our personal finances.  Those with private businesses usually have a separate file for each business.

    2/3/4 - Which version of Money are you using?  The answer to these questions may depend on that.

    5 - You enter gross income so you can also enter the various deductions (particularly taxes, contributions to a retirement plan, etc) and the system then calculates the net.  If you produce any of the tax reports, you will want both types of figures.

    Thursday, October 19, 2017 8:18 AM
  • Hi Barry, thanks a lot!

    I am using Microsoft Money Plus Deluxe rev. 17.0.120...could you kindly help me, please? :-)

    Bye bye,

    P

    Thursday, October 19, 2017 12:07 PM
  • The only file that you need to back up is your latest *.mny file or your recent *.mbf file. Either of these could be opened by an appropriate version of Money that you have installed on the new computer.

    It is better to have more than one version of backup, however. If your file got corrupted, the latest backup could be a copy of the corrupted file. But again, an uncorrupted *.mny file or *.mbf file is all you need to copy to the new computer. By default, Sunset saves the lastest 4 upon-exit backups, and the latest 4 scheduled backups. I have my scheduled backups go to a USB flash drive. I have changed both 4s to bigger numbers.

    New reports: You can customize reports extensively. You should set reports to use advanced reports rather than essential reports IMO.

    Your questions are getting sophisticated. http://littlegreengecko.com/MSMstuff/faq.html will probably have some useful information for you. For your amortizing thing, you might consider setting up a liability or asset account as appropriate, and transfer money to that as you decrease your dept or increase your asset. However Money would not be good for accrual accounting in general. You can set up a loan account that gets paid off with time, but it is not going to be so good for automating depreciation etc IMO.



    Thursday, October 19, 2017 7:55 PM
    Moderator
  • Thank you, Cal.

    I'll read linked pages you suggested me. :-) 

    I already have set up my reports as advanced, but, sincerenly, I am no able to obtain Necessary and Discretionary costs report :-O. Did you get? Can you kindly explain me the way, please?

    Can I customize categories group? 

    Thanks a lot.

    Bye bye,

    Paolo

    Friday, October 20, 2017 9:43 AM
  • Thank you, Cal.

    I'll read linked pages you suggested me. :-) 

    I already have set up my reports as advanced, but, sincerenly, I am no able to obtain Necessary and Discretionary costs report :-O. Did you get? Can you kindly explain me the way, please?

    Can I customize categories group? 

    Thanks a lot.

    Bye bye,

    Paolo

    You can have separate categories. So maybe food is always necessary. Or you could have food_N and food_U. One report could be customized to only include necessary categories. Then save that as a favorite report. Make another with just unnecessary categories.

    Another alternative is to use a Classification.  This is like an extra dimension, and you can have a report that groups by Classification. The great majority of Money users don't use Classifications. I have only experimented with them, and not recently. I suggest that you experiment with a copy of your Money file (use a different name for the copy).

    To create or delete a classification, go to Banking->AccountTools->Categories&Payees. To get there or other places more easily, click the Shortcuts icon. Then select Categories in the Available box, and click the Add>> box.

    Once in Categories area, click Classification 1 on the left. Name that classification maybe Need by typing Need into the empty box. To delete that Classification later, click Need in the left column.
    Then click DeleteClassification.

    Once you create Need, you can go to transactions, and see that you now have a Need box. Enter Yes or No to all transactions you want involved. Need, Yes, and No were just examples, and you could select your own terms.

    Now Customize a report. See that Need is now a tab on the items that can be customized. Note that on the Rows&Column tab, There is a check box called Need. In the SubtotalBy drop-down list, Need is now a choice.

    Experiment. Soon you will be the expert on Subcategories. Customize reports. Save them as Favorites.

    Since you will be putting a lot of effort into this, review your backup policies. What happens if your hard drive crashes. Etc.

    Friday, October 20, 2017 2:23 PM
    Moderator