Loan Payments

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Re: Loan Payments

Post by FlameOfMoney »

I was just looking for this answer as well. Here is what I figured out. It may not be right but it is what I'm going to use.

1.) When you setup the loan account, put the initial balance in as a negative value. That is what you own.
say -10,000.00

2.) May a payment from your Checking account (or whatever) to the Loan account using the Transfer account option.
say -325.00

3.) Go to the loan account and add a transaction for the amount of interest you paid as a Withdrawl from the Loan Account page to your lender
say 25.00

this makes your loan balance move towards zero with a net change of $300 so the new balance is 9700.00

Hope that helps.

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Re: Loan Payments

Post by kevinkruse26 »

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