Loan accounts

Linda's Avatar


28 Jun, 2022 04:52 PM

I am switching from Quicken to Moneydance. I have 3 loans that were set up in Quicken. After migrating my data from Quicken, the 3 loan accounts show up with the correct balances. In Quicken, setting up the loan and then scheduling the payment would use an amortization schedule to know how much of the payment was principal and how much was interest and assign the values accordingly. I can't figure out how this works in Moneydance. I can easily add a reminder for the payment, but will Moneydance "know" how much of each recurring payment is principal and how much is interest?

  1. 1 Posted by Linda on 28 Jun, 2022 07:50 PM

    Linda's Avatar

    I believe I have worked through this. I was directed to an article regarding loan payments and read various suggestions. I actually combined 2 different suggestions in the link and I think I might be good. It will be a month before the reminders I set up for my 3 loans will automatically record the payments. If it doesn't work, I'll get back in touch.

  2. Support Staff 2 Posted by Maddy on 30 Jun, 2022 10:36 AM

    Maddy's Avatar

    Hi Linda,
    Thank you for contacting Moneydance support.

    We are pleased to hear that you are making progress.

    I'll close this discussion for now, but do not hesitate to contact us again, if you need further assistance.

    Maddy, Infinite Kind Support

  3. Maddy closed this discussion on 30 Jun, 2022 10:36 AM.

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