Create Credit Card Account

Credit card account

Create an account REMARK: You must have a open account before you can create a new account. When you do not have an available data set, you must create one. In order to create a new account, you can either go to from the main window to or click the New Account...

button from the tool bar.

It is also possible to create an account from the Accounts pane; click the Accounts symbol in the pane selection and then right-click the asset or liability symbol and choose from the context menu. In the first stage, a setup is selected for the account. For an account for an existing facility, you can choose the facility from the drop-down box.

To create a new setup, click the New Setup icon. The dialog New Institutions opens, as described in the preceding section. You do not need to specify an institute if it is not a current account or if you do not wish to use it.

KMyMoney does not currently use the account number and IBAN (International Bank Account Number). Specify a name for the account first. Then, browse to the account category and click one of the categories available in the drop-down menu. KMyMoney treats different account categories differently, so it is important to create the account with the right category.

In addition, different kinds of account need different deployment information and can view different pages in the new deployment assistant to gather that information. An ordinary current account, the kind you can get at any local banking or cooperative credit institution. An ordinary saving account, the kind you get at any local banking or credit cooperative.

One account to display your credit card. This is a multi-purpose account that is usually used for nonbank account balances, such as the funds in your pocket. This is an account used to administer a credit for loaned or loaned funds. KMyMoney uses a KMyMoney account to calculate interest charges to help you keep tabs on the amount of capital left in the loans.

Non-interest-bearing borrowings can use the simple assets or liabilities method below, according to whether the loan is borrower or borrower. Account used to administer an initial capital expenditure such as shares, debentures or unit trusts. Account used to administer an item of property that does not qualify for one of the above categories.

Any account for the management of a debt or prospective debt that does not qualify in one of the above ways. When interest has to be charged, it may be better to use the above loan category. From the drop-down box, choose the desired account denomination.

Specify the account opening date or choose it from the date list using the symbol on the right. It is not possible to specify a date for a transactions with a date before the account opening date, but you can modify this date later if necessary. Specify the opening account credit for the account.

In the case of an existent account, you will find this information on your invoice. In the case of a new account, the opening balances can be kept at zero. If you select the Privileged account option, some KMyMoney dialog boxes and some KMyMoney view windows will allow privileged use. If you are setting up a credit card account, you can have KMyMoney create a planned payment after you enter your base information and click Next Optional.

To generate such a transactions, make sure the option is checked and provide the necessary information. KMyMoney investment account contains only shares (shares, loans, etc.), but no currency. For this reason, you cannot specify an opening account credit for an investment account.) If a trade in an investment account needs or creates currency (for example, to buy or buy shares), a brokerage account is used for the currency.

The securities account balances are described in more detail in the section on investments. If you create a new investment account after you have entered the basics and clicked Next, you will be able to create an appropriate Brokerage account. In general, it is best to create the brokers account here, which will have the same name as the investment account, with "(Brokerage)" as an attachment.

It is currently not possible to specify the opening date or brokerage account balances here; you can do this by processing the account information after creating the account. Lending account are specific account that help you in managing your debt with interest and planned repayment. If you provide information about the credit to BMyMoney, BMyMoney can help you keep tabs on interest paid and the amount of capital left in the credit.

tab page, specify the general information for the loans. First of all, choose whether you want to borrow or lend them. When you borrow funds, the loans are shown in the accounts under Liabilities. When you borrow funds, the loans are included under assets. Then choose the payment recipient or paying party for the loans.

If the name is not yet in the payee queue, just type it here and KMyMoney will create it for you. Choosing Yes in the drop-down box "Have you already made or received payments" will allow you to choose whether to capture all or only the beginning of the year.

Next, you choose how often you want to make your repayments and how often you want to add interest. In the case of accrued interest, the interest shall be added to the amount due on the credit so that more interest shall be payable on the interest in the next calculation of interest. Next, specify the date of the first transaction to be entered.

At the end, provide information on how the interest rates are changing. There is nothing to do if the interest charged on the loans is high. When the interest rates vary, choose Variables under "Type of interest rate" and then specify the range between the interest changes and the date of the first interest change:

When KMyMoney receives this date, it will ask you to refresh the interest on it. On the Payments page, specify the amount of the payments and the interest amount for the loans. First choose whether the interest is to be charged on receipt of your incoming payments or on due date. Next, type the following values:

Amount of the credit. This is the average amount of the loans. Duration of the credit. Type a number and choose either Months or Years. Amount of each instalment of the loans. Supplementary closing instalment at the end of the maturity period to repay the residual capital of the loans.

This is often zero for an amortising loan. 3. In the case of a pure interest rate loans, this corresponds to the amount of the loans. Use the Calculate pushbutton to verify the results you have typed. In this case, you cannot use the Loans Account function in KMyMoney and must use a payables or assets account to monitor the loans manual instead.

Omitting a value will cause KMyMoney to try to charge it for you. When you have completed entering all your data, KMyMoney checks that the data is the same. The KMyMoney does not adapt the input data except for the "balloon payment", which it can easily adapt to take the roundness into account. KMyMoney will inform you if the value is incorrect or KMyMoney cannot compute the missing value so that you can rectify any mistakes and recalculate the calculations.

On the Charges page, you can specify any charges that have been added to the loans made. All the rows added here are added to the installment plan for the loans. The KMyMoney will create a planned deal for your credit. tab page, specify the rest of the information you need to create the timetable.

First, specify the category to which you want to assign the interest on the loans. Specify the account from which the loans are to be made. On the page, the first date of your payments for which the timetable is generated is also displayed. KMyMoney can also create a optional KMyMoney transactions that shows what was entered into or what was actually disbursed at the time the loans were made.

When you have loaned or loaned currency, choose the account from or to which the amount of the credit was made. When you have loaned yourself funds to buy a vehicle, you can choose or create an investment account to keep tabs on the value of the new vehicle. When you have refinanced an exisiting loans, activate the checkbox "Refinance exisiting loan", activate the account and KMyMoney will create a bank wire balancing operation.

Select the "Do not create a disbursement transaction" checkbox if you do not want to create the disbursement transactions. It is the second last stage when you create a new account, with the exception of a loans. Dependent on the kind of account to be opened, a list of your asset or liability account will be shown.

Currently, the Higher Account page is not displayed for a loan because it cannot be defined as a subaccount. In addition, mutual fund account cannot contain other account types, so they are not displayed in the treeview. Choose the account to include the new account. When you do not choose a parental account, the new account is at the top tier.

It is the last stage in the creation of a new account. Otherwise, either back to make adjustments or abort to stop the creation of the new account. ATTENTION: The type and currency cannot currently be modified after the account is opened.

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