10-13-2003, 10:48 PM
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 Re: Money doesn't recognize extra mortgage payment The extra amount needs the special category "Principal Transfer" in the loan payment split. "Jim" <jfitzger[at]verizon.net> wrote in message news:074401c391d1$fd9db770$a401280a[at]phx.gbl... - quote - > For my house mortgage, I am paying extra per month for my > monthly bill. The extra amount is visible when I "split" > the total in my checking account. > However, in "Loan and Liability" Accounts,where my > mortage exists, the extra "principle" is not recognized. > The "regular" principle, as calculated by money is > recogized and so is the "calculated" interest. The > payment amount that I pay is also correct. Consequently, > the new balance is incorrect as it does not recognize the > extra principle paid. > This is a basic and common practice so I am sure I am > doing something incorrect. Please help. Thanks. |
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#-1
10-13-2003, 09:35 PM
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| Money doesn't recognize extra mortgage payment For my house mortgage, I am paying extra per month for my monthly bill. The extra amount is visible when I "split" the total in my checking account. However, in "Loan and Liability" Accounts,where my mortage exists, the extra "principle" is not recognized. The "regular" principle, as calculated by money is recogized and so is the "calculated" interest. The payment amount that I pay is also correct. Consequently, the new balance is incorrect as it does not recognize the extra principle paid. This is a basic and common practice so I am sure I am doing something incorrect. Please help. Thanks. |
| Tags |
| extra, money, mortgage, payment, recognize |
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