tag:infinitekind.tenderapp.com,2009-01-14:/discussions/problems/90992-first-experience-not-great-loans-have-lots-of-bugsInfinite Kind: Discussion 2023-08-31T14:30:18Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/590958822023-06-01T14:22:59Z2023-06-01T14:22:59ZFirst experience not great, loans have lots of bugs<div><p>Hi Dave,<br>
We are sorry to hear about the problem/s you have encountered.</p>
<p>Generally, you should select the account you made the loan payment from and enter a new transaction to reflect the payment, then specify the loan account within the 'Category' field of the transaction. This will create a transfer of funds from the account you're using into the loan account, and you'll see the loan account balance will decrease.</p>
<p>Moneydance does not support importing data or entering transactions into loan accounts. The reason being that it should not be necessary.<br>
If you are making your loan payments from one of <strong>your bank accounts</strong>, when you download transactions for that bank account it will include debits for the loan payments.</p>
<p>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>Additionally, you should click on your loan account from the left Side Bar and navigate to <strong>Account->Edit Account</strong>. Adjust the Escrow there. The next payment reminder should then reflect the proper amount.</p>
<p>It might be useful referring you to <a href="https://infinitekind.tenderapp.com/kb/loan-accounts/schedule-loan-payment-reminder">this article</a> Knowledge Base article for more information about 'Loan Account reminders'.</p>
<p>In conclusion, if you have a loan account in Moneydance, Splits of payments are only handled automatically if a reminder is created within the loan account. Moneydance cannot perform any calculations if you are just entering a transfer transaction in a bank account by entering the loan account as the category.</p>
<p>Lastly, select your loan account in the left side bar and navigate to Adjust Account Balance. You should ensure the balance adjustment field is 0.</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