loans and loan calculator
Hi, I downloaded the free trial and I have a question about loans. I'm currently using Microsoft Money. We have a large personal loan (buying out a family business) that we have been making payments on since 2001. Money has kept track of each payment, most of which have extra put against the principal of the loan. This changes the interest owed on the loan, which matters because at tax time I print out a report for out accountant to deduct the interest. How do I do this in Moneydance? I tried creating a loan account and saying that the payments started in 2001 but this didn't change the amount owed, even if you don't count the fact that we paid extra. Now I'm doing the loan calculator, and I've been painstakingly adding the extra amount from each payment in the "extra principal" column, and that's giving me accurate amounts but is this information I can save and change as we continue to make payments? If I click "done" will it just all disappear? Being able to track this is vital.
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1 Posted by Angie Rauscher on 01 Mar, 2010 06:17 PM
Kathryn,
I apologize for the long delay in our response, I am embarrassed to say that we have been snowed under with questions about Moneydance 2010. Are you still having this issue, and if so, would you please include the version of Moneydance you are using, your OS, and the version of Java you are using?
Please let me know how I can be of further assistance,
Angie Rauscher
Moneydance Support
Angie Rauscher closed this discussion on 24 Jul, 2011 07:34 PM.