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Loan Overpayments - sub level adjustments

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Simon Freeman

Sep 24, 2021 @ 05:23 PM

I have a loan account with a balance that requires adjusting. This has occurred because I have more than one sub loan with a single lender and the way in which the lender notionally splits overpayments between sub loans has created a misalignment between the sub loan that I would like to correct.

Can this be done as an adjustment to the loan balances, or will some other method have to be used

1. Support Staff 1 Posted by Ethan on Sep 26, 2021 @ 07:39 PM

   

   Hello,

   If I'm understanding you correctly, could you adjust how the loan payment transaction was entered into Moneydance? For example, if the payment was for $500, and the transaction split the payment amounts between the two loans equally, could you adjust that split amount in that transaction to whatever the correct proportion should be?

   We can also work on a way of transferring funds between the two loan accounts, but I want to make sure I understand your situation first, and that we solve it in the simplest way that won't mess up anything with your reports.

   Ethan
   Infinite Kind Support

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2. 2 Posted by sbdpfreeman2 on Sep 27, 2021 @ 04:13 PM

   

   Hi Ethan,
   Thank you for your reply
   The issue is that the balances for the two sub accounts show incorrect values, 
   Loan 1 - is showing a balance £5380.00 that has now been cleared from another source (not on Moneydance). So current balance is now £0. This is what I need to adjust.Loan 2  - has a balance showing in Moneydance which needs an adjustment . This is showing £6089 and has now increased to £84000.
   This misalignment has come about over many years due to us, as users trying to reconcile by incorrectly adjusting payments to make fit.
   Ideally I would have liked to just add an 'adjustment amount' to each loan.
   Regards
   Simon

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3. 3 Posted by sbdpfreeman2 on Oct 04, 2021 @ 07:40 AM

   

   Hi Ethan,

   I'm just checking you received this email as I haven't had a reply?
    
   Thank you for your reply
   The issue is that the balances for the two sub accounts show incorrect values, 
   Loan 1 - is showing a balance £5380.00 that has now been cleared from another source (not on Moneydance). So current balance is now £0. This is what I need to adjust.Loan 2  - has a balance showing in Moneydance which needs an adjustment . This is showing £6089 and has now increased to £84000.
   This misalignment has come about over many years due to us, as users trying to reconcile by incorrectly adjusting payments to make fit.
   Ideally I would have liked to just add an 'adjustment amount' to each loan.
   Regards
   Simon

   • Edit

4. System closed this discussion on Jan 03, 2022 @ 07:50 AM.