Create a Loan Account

When creating a loan you may enter payments manually, or choose to schedule a recurring transaction reminder which will allow Moneydance to track how many payments have been made on your loan, how many are left, and the interest to principal ratio.

Most financial institutions use slightly different methods of calculating the interest on a per-payment basis, so you should verify these amounts against the principal and interest amounts in your payment schedule.

Loan Accounts can be created by selecting Account --> New Account. Then select the 'Loan' type, and enter the account details.

When you open a loan account in Moneydance, you can choose to add the principal of your new loan to the balance of another account.