How to correct a missed scheduled loan receipt

NCuser

I gave a family member a loan and it is set up as scheduled loan payment. Somehow the payment for Sept was never entered in the register but the payments after that were entered. I tried manually entering the loan payment for Sept in the register and I was going to recalculate the principal and interest but when I entered the payment and when I "View Payment Schedule" under the loan, it lists the principal but the payment number and interest are blank (and I doubled checked that I entered the interest under the correct category).

Can I fix this so that the proper principal and interest are calculated for future payments? I don't mind manually correcting the past few months but I don't want to have to do it for 6 years.

Sherlock

If you haven't already, I suggest you use the loan payment reminder to enter the payment resetting the date of the payment (for example, open the loan, press Ctrl + Shift + N, and select Enter Loan Payment).

The approach I would take is to first save a backup (press Ctrl + B).  Then, I would delete the loan payments entered since the missing payment.  Next, I would enter each missing loan payment chronologically using the reminder.  Finally, I would reset the Next Due on: date of the loan payment reminder.  

And, don't forget to reconcile.

Sherlock

If you haven't already, I suggest you use the loan payment reminder to enter the payment resetting the date of the payment (for example, open the loan, press Ctrl + Shift + N, and select Enter Loan Payment).

The approach I would take is to first save a backup (press Ctrl + B).  Then, I would delete the loan payments entered since the missing payment.  Next, I would enter each missing loan payment chronologically using the reminder.  Finally, I would reset the Next Due on: date of the loan payment reminder.  

And, don't forget to reconcile.

NCuser

Thanks! It worked like a charm. When I deleted all the payments back to the original missed one and used Loan Payment, the correct date showed up and I just re-entered them. The Next Due On date was correct so I didn't have to reset it.

Thanks again!