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Paying off a Mortgage

System

This discussion was created from comments split from: Manual Loan Register.

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PLG

The principal payment on my last two mortgage payments is not posting to the category. I have been doing it the same way for several years, but suddenly it's not posting that part of the split. Now the balance is wrong as are all the reports that include the asset.
What's going on?

Tom Young

From the sounds of it, you have a manual loan Account. I'll proceed using that assumption.

If you are posting loan payments in your checking Account but not seeing any principal reductions in the loan Account, I'd say there's something wrong with your entries' split between the mortgage interest CATEGORY and the TRANSFER of the principal portion the loan Account. Look at those payments and make sure the "Category" for the principal portion is the loan Account's name in square brackets - [Name of Loan Account].