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Adjusting loan acct balance

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Jan Derdiger

May 02, 2023 @ 04:52 PM

My actual balance is less than the amount shown in my money dance loan acct:
(1) How do I make an adjustment to the loan acct to get in in sync with the actual acct?;
(2) Also, I will then pay off the loan. What is the best way to account for the recording fee?

1. 1 Posted by Jan Derdiger on May 02, 2023 @ 11:02 PM

   

   If I create a loan adjustment category, can I make a transfer between this category and the loan account? Is there a way to access a category directly and make entries?Thanks, Jan

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2. 2 Posted by Jan Derdiger on May 02, 2023 @ 11:02 PM

   

   If I create a loan adjustment category, How do I make a transfer between this category and the loan account? Is there a way to access a category directly and make entries?Thanks, Jan

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3. 3 Posted by dwg on May 03, 2023 @ 10:22 PM

   

   As you have probably found out you cannot enter a transaction directly into a loan account, this is by design as these accounts are intended to be fully automated in normal operation.

   To take the path you are thinking about, and it will work, you need to take a specific approach.

   To create a category use the Moneydance menu path Tools --> Category

   Highlight the category in the list right click and select Open in new window.

   Now this looks like an account register but remember it is a category register there are significant under the hood differences, so care needs to be taken.

   Enter your adjustment transaction. If you have set it up as an expense category an amount in the Increase field will increase the debt in the Loan, likewise an amount in the decrease column will decrease the amount of the loan.

   You can use the Description and Memo fields as you normally would.

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4. System closed this discussion on Aug 02, 2023 @ 10:30 PM.