Re: Loan Payments
Posted: Tue Feb 27, 2018 5:16 am
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.
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.