tag:infinitekind.tenderapp.com,2009-01-14:/discussions/problems/82984-setting-up-a-mortgage-so-that-automatically-splits-and-assigns-principal-payment-and-interest-paymentInfinite Kind: Discussion 2022-11-18T11:10:19Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/554012822022-08-18T23:52:06Z2022-08-18T23:52:07ZSetting up a mortgage so that automatically splits and assigns principal payment and interest payment<div><p>I can't figure out how to set up a mortgage so that the payments automatically get assigned to Principal and to Interest</p></div>Reedtag:infinitekind.tenderapp.com,2009-01-14:Comment/554012822022-08-19T11:09:02Z2022-08-19T11:09:02ZSetting up a mortgage so that automatically splits and assigns principal payment and interest payment<div><p>Hi Reed,<br>
Thank you for contacting Moneydance support.</p>
<p>Generally the steps for setting up a Mortgage account are outlined <a href="https://infinitekind.tenderapp.com/kb/loan-accounts/create-a-loan-account">here</a>.</p>
<p>You should click on your mortgage account from the left Side Bar (should be in the Loans section). Then on top in the Account header click on "Edit Account". Adjust the Escrow there. The next payment reminder should then reflect the proper amount.</p>
<p>Also, when you categorize these loan payments in the bank account, with the 'loan account' <strong>as the category</strong>, the corresponding matching entry in the loan account will be created.</p>
<p>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.</p>
<p>I hope this information is helpful. Please let us know if you have further questions or need more assistance.</p>
<p>--<br>
Maddy, Infinite Kind Support</p></div>Maddy