Loan transaction

Ben's Avatar


02 Dec, 2021 06:27 AM

I have created an account under "Loans" for my HELOC (Home Equity Line of Credit), which has a variable interest rate. I want to create a "new transaction" to show the monthly interest charge, but I cannot do it (the File -> New Transaction menu item is grayed out). For bank accounts and credit cards, it's a simple matter to enter a new transaction (either a withdrawl or deposit). How can I do the same for a loan?

  1. 1 Posted by dwg on 02 Dec, 2021 06:51 AM

    dwg's Avatar

    I'm a fellow user.

    In Moneydance Loan account are designed for Principal and Interest (P&I) fixed types of loans.

    The most common Line of Credit account in Moneydance is naturally Credit Cards, but you can also use the general purpose Liability account to handle these types of loans.

  2. 2 Posted by Ben on 03 Dec, 2021 05:06 AM

    Ben's Avatar

    Thank you.

    Is there a way to change the account type from "Loan" to one of the other types? Or do I need to create a new account for this?

  3. 3 Posted by dwg on 03 Dec, 2021 05:48 AM

    dwg's Avatar

    Moneydance itself does not have an option to change an account type, but the toolbox extension can change it.

  4. 4 Posted by Ben on 03 Dec, 2021 05:49 AM

    Ben's Avatar

    Thank you!

  5. System closed this discussion on 04 Mar, 2022 05:50 AM.

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