Min bal requirement

My checking account has a minimum balance requirement of $250 to waive the
service charge fees, so I want to keep the minimum in the account. Any
recommendations on how to balance to the statement? Should I deduct the $250
from the check register & try to remember this every month when I balance to
subtract the $250 from the bank's balance? Is there an easier way?

Thanks.

=?Utf-8?B?S2VsaUI=?= <KeliB@discussions.microsoft.com> wrote on 08 Sep
2007 in group microsoft.public.money:

> My checking account has a minimum balance requirement of $250 to
> waive the service charge fees, so I want to keep the minimum in the
> account. Any recommendations on how to balance to the statement?
> Should I deduct the $250 from the check register & try to remember
> this every month when I balance to subtract the $250 from the bank's
> balance? Is there an easier way?

Enter transactions as you make them so that you always know how much money
is in the account. When the balance approaches $250, stop spending money.


As far as I know, Money offers no feature to fool yourself into thinking
you have $250 less than you actually have. It will be just as easy to
remember to keep the balance up as to remember to do some kind of gyration
at reconciliation time. Such a kludge would definitely have unpleasant
side effects. I haven't tried it, so I'm speculating, but I suspect your
reports would be off and you'd get warnings about improper balances.

--
Steve B.
New Life Home Improvement

In microsoft.public.money, KeliB wrote:

>My checking account has a minimum balance requirement of $250 to waive the
>service charge fees, so I want to keep the minimum in the account. Any
>recommendations on how to balance to the statement? Should I deduct the $250
>from the check register & try to remember this every month when I balance to
>subtract the $250 from the bank's balance? Is there an easier way?

Go to the settings for the account, and set a minimum balance of
$250 (or more if you want to experiment). I think that would alert
you if the balance goes below $250 as you enter the future checks
etc.

I just balanced the account. I don't know why I didn't think of this before.
I entered a $250 w/d payable to the bank & used the real ending statement
balance. Now my balance doesn't include the $250 (so I don't have to
remember not to spend it to avoid charges) & I don't need to adjust my end
bal every month. I worry too much in advance.... (sigh)....

This is available in the Alerts settings.

From Tools/Settings select "Alerts Center"

Then select "Customize your Advisory FYI Alerts"

First Check Account Balance limits and then on the Accounts tab select your
account you want alerts on and enter a minimum and maximum. Thus you will
get an alert each time your transaction results in exceeding the limit. You
only get one warning when you pass the limit. Additional transactions that
keep you below your minimum will not result in additional warnings.

Other alerts are available.

Art

"KeliB" <KeliB@discussions.microsoft.com> wrote in message
news:FA174F34-245F-4C1D-B80A-7EC36E4BD984@microsoft.com...
> My checking account has a minimum balance requirement of $250 to waive the
> service charge fees, so I want to keep the minimum in the account. Any
> recommendations on how to balance to the statement? Should I deduct the
> $250
> from the check register & try to remember this every month when I balance
> to
> subtract the $250 from the bank's balance? Is there an easier way?
>
> Thanks.