08-11-2007, 03:39 PM
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 Re: Bi-weeky payments on a home loan "kidcosmo" <kidcosmo[at]discussions.microsoft.com> wrote in message news:139418EA-2FE9-46CD-9283-B03E5A42E262[at]microsoft.com... - quote - > Hi! I've recently set up a bi-weekly payment schedule for my home > loan, but > am having a difficult time trying to change the account settings to > reflect > that payment schedule as well as properly calculate the interest and > principal. > Ideas? Money can't handle every bank's method of calculating interest and never has done the bi-weekly payment thing very well, to my recollection. You may just need to accept that Money's calculated interest rate is slightly wrong. Enter the frequency and P&I. Let Money calculate the interest rate it wants. At the end of some period (twice a year?) enter an adjustment transaction to balance the principal against the bank, categorized as interest. Definitely enter one at the end of a tax year. -- Chris Cowles Gainesville, FL |
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#-1
08-11-2007, 02:30 PM
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| Bi-weeky payments on a home loan Hi! I've recently set up a bi-weekly payment schedule for my home loan, but am having a difficult time trying to change the account settings to reflect that payment schedule as well as properly calculate the interest and principal. Ideas? |
| Tags |
| biweeky, home, loan, payments |
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