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Loan Payment:Interest category not showing in Register or budget
derky811
Member ✭
I setup an Auto loan and after getting my monthly payment to show correctly, when I use the payment steps, the principal portion shows in the Loan's register but not the interest. And when I look at the budgeted amount in my planner it only shows the actual payment as the part recorded for the principal and not the interest. Did I set the loan up incorrectly or am I not budgeting the payments correctly?
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Best Answer
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The loan payment interest should not appear in the Loan's register. The interest should appear in the payment account's register in the split transaction.
Regarding the budget, if you select the loan under the Detailed Loan Payments, the full amount of the loan payment should be budgetable. If desired, we may also budget the interest payment and/or the principal transfer independently.6
Answers
-
The loan payment interest should not appear in the Loan's register. The interest should appear in the payment account's register in the split transaction.
Regarding the budget, if you select the loan under the Detailed Loan Payments, the full amount of the loan payment should be budgetable. If desired, we may also budget the interest payment and/or the principal transfer independently.6
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