Microsoft KB Archive/147895

Money 4.0 and 3.0: How to Enter a Xfer and Setup Xfer Reminders

PSS ID Number: Q147895 Article last modified on 09-13-1997

3.00 3.00a 4.00 4.00a

WINDOWS

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========================================================= 4.0 4.0a 3.0 3.0a WINDOWS kbusage kbhowto

= SUMMARY =

In Microsoft Money, an electronic transfer is known as an Xfer. The procedure is used when you want to transfer money electronically between two accounts, such as Checking, Savings, Credit Card, and/or Line Of Credit accounts). For the Xfer to work, both accounts need to meet the following criteria:


 * Account must be set for Online Banking with Online Services.
 * Accounts must be with the same member bank.

You can enter Electronic Transfers in either the Account Register in Money for Windows 95, or Account Book in Money 3.0. You can also set Money to remind you to send Xfers.

The following article tells how to enter electronic transfers and reminders in Money 3.0 and Money 4.0.

= MORE INFORMATION =

Electronic transfers occur on the business day you send the instruction. If the instructions are sent too late, the transfer occurs the next business day. Business days are Monday-Friday, except weekends and Federal Reserve Bank holidays. Your bank or financial institution can tell you what their daily cut-off time is for transfer processing.

You can enter Xfers in Money only on the day you intend to send the transfer instructions to Online Services. You cannot set these up in advance (that is, as an Automatic Payment or Apay), but you can have Money remind you to enter the transfers. To set up transfers and reminders, use the instructions below for your version of Money.

Money 4.0
To enter an Xfer in the Account Register of Money for Windows 95, do the following:

  In the Account Register, click the triangle to the left of the account name on the navigation bar, and select the account you want to transfer the money from.   Click the Transfer tab.   Enter the transfer information as you normally would, except in the Number field, click Electronic Transfer (Xfer). You can also enter information in the Pay To field, but this information isn’t sent with your instructions.   When you are finished, click Enter. In the register, a lightning bolt and an open envelope appear in the Number field next to the word Xfer.   Click the Go To Online button, located under Reminders on the right side of the window.   In the Online Services area, review the list of instructions to be sent to Online Services under step 1.   When all your Online Services instructions are ready, click Call and then follow the screen instructions. NOTE: After the transfer instructions are sent, the open envelope symbol is replaced by a closed envelope in the Register. This reminds you that this transfer was sent using Online Banking. 

You can have Money remind you to send transfer instructions to Online Services by entering a transfer in the Payment Calendar. Then, on the day you send the instructions, you indicate that it is an Xfer. To use Payment Calendar to remind you to send Xfer instructions, do the following:


 * 1) In the Payment Calendar, click New Bill Or Deposit.
 * 2) Click Transfer, and then click Next.
 * 3) Use the TAB key to move to each field as you enter all necessary transaction information. Leave the Number field blank.
 * 4) Click OK.
 * 5) In Step 1, make sure that all bills, deposits, and transfers that need to be entered are selected.
 * 6) In step 2, make sure that you have enough money in your accounts to cover the transfer and any other transactions.
 * 7) In step 3, click Enter.
 * 8) In the Number field of the Enter Scheduled Payment dialog box for the transfer, type “Xfer,” (without the quotation marks). Review the remaining information.
 * 9) Click Enter to add the payment to the Account Register.
 * 10) Click the Go To Online button, located under Reminders on the right of the window.
 * 11) In the Online Services area, review the list of instructions under step 1.
 * 12) When your Online Services instructions are ready, click Call, and follow the on-screen instructions.

Money 3.x
To enter an Xfer in the Account Book of Money 3.0, do the following:

  In Money, open the Account Book window. </li>  On the Account list on the toolbar, click the account you want to transfer money from. </li>  Double-click the next available transaction. </li>  In the Number field, type the following: Xfer This marks the transaction as an electronic transfer. </li>  In the Date field, type today’s date. </li>  Enter the amount of the transfer in the column that will decrease the account balance (the Payment or Charge column). </li>  In the Category field, type Transfer. </li>  Use the TAB key to move to the next field. Enter the account you are to which you are transferring money. </li>  You can enter information in the Memo and Payee fields, but this information isn’t sent with your instructions. </li>  To complete the transfer, press the ENTER key. The transaction is entered in the registers of the accounts involved in the transfer. A lightning bolt appears in the Number field next to the word Xfer to remind you that this transaction needs to be sent to Online Services. </li>  On the On-Line menu, click Bank On-Line. The transfer is listed in the list of instructions. </li>  When all your instructions are ready, click Call to send them. </li></ol>

You can have Money remind you to send transfer instructions to Online Services by putting a transfer in the Future Transactions window. On the day you send the instructions, you can indicate that this is an Xfer. To use Future Transactions to remind you to send Xfer instructions, do the following:

  In Money, open the Future Transactions window. </li>  Double-click the next available transaction. </li> <li> In the Date field, enter the date you want the transfer performed. </li> <li> In the Frequency field, select how often you want to be reminded to send the instructions to Online Services. </li> <li> In the Account field, select the account from which you want to transfer the money. </li> <li> Leave the Number field blank. You enter this information on the day you make the transfer. </li> <li> Enter the information in remaining fields as you would for any other transaction. </li> <li> On the day that you want to enter the Xfer transaction, go to the Future Transactions window. Select the transfer transaction. </li> <li> On the Tools menu, click Enter Selected Transaction. </li> <li> Enter the following in the Number field: Xfer If you want to change any other field, make the changes now. </li> <li> Click Enter to enter the transaction in the Account Book. </li> <li> On the On-Line menu, click Bank On-Line. Any transfers are listed in the list of instructions. </li> <li> When your instructions are ready, click the Call button to send them. </li></ol>

KBCategory: kbusage kbhowto KBSubcategory: kbonline

Additional reference words: w_money 3.00 3.00a 4.00 4.00a transx trans x- fer e-trans Alien

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========================================================= Keywords : kbonline Version : 3.00 3.00a 4.00 4.00a Platform : WINDOWS ============================================================================= Copyright Microsoft Corporation 1997.