Moneydance+ loan downloads

Michael Sulla's Avatar

Michael Sulla

28 Nov, 2022 03:56 PM

Hello,

I've subscribed to Moneydance+ to download data, it works fine for credit cards, but if I have a loan, the loan shows up in MoneyDance+ screen but only the credit cards can be selected when assigning it to an account. Am I missing something when trying to download data for a loan or a certain way to set up the account so it shows as an option in Moneydance+/Plaid screen?

Thanks

Mike

  1. Support Staff 1 Posted by Maddy on 29 Nov, 2022 12:09 PM

    Maddy's Avatar

    Hi Mike,
    Thank you for contacting Moneydance support.

    Moneydance does not support importing data or entering transactions into loan accounts. The reason being that it should not be necessary. If you are making your loan payments from one of your bank accounts, when you download transactions for that bank account it will include debits for the loan payments.

    When you categorize these loan payments in the bank account, with the 'loan account' as the category, the corresponding matching entry in the loan account will be created.

    So, you will have to enter the transaction from the account on the other side as Moneydance does not allow transactions to be initiated from within loan account.

    I hope this information is helpful. Please let us know if you have further questions or need more assistance.

    --
    Maddy, Infinite Kind Support

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