mortgage account

asubbaiyanprof
asubbaiyanprof Member ✭✭✭
edited October 2020 in Using Reports
regarding my mortgage account, strangely loan payment and tax disbursements only show on the report but not on the transaction area and besides no option to ignore - '(1) This account does not support creating or modifying transactions.'

For the actual problem, my home->mortgage amount of $1,000 shows as expenses (which is correct) but also shows -$1000 under Loans (automatically shows up based on linked mortgage account), so the net expenses are reported as zero. Obviously, this is not the case.

[edited for clarity]
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  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    Hello @asubbaiyanprof,

    Thanks for taking the time to post to the Community!

    To clarify some points regarding your connected loan account -- although there are no transactions displayed that download from the financial institution, Simplifi is designed to track your loan payments automatically, when the account is connected. This means that any activity in the connected loan account, including your loan payments, will automatically show up in your Reports. There is currently no way to manually control this.

    Because of this, you'll want to use the category of Transfer for the transaction in the account that the loan payment is coming from, instead of Home>Mortgage, as this should result in accurate reporting.

    Please let me know how it goes!

    -Coach Natalie

  • asubbaiyanprof
    asubbaiyanprof Member ✭✭✭
    Thanks, I tried the transfer option earlier on my car loan and Mortgage, but it looks like I have only shot to correct it on loan transfer; now its saying cannot modify it.

    I could update for Car Loan for Aug, September, but not for October right now.
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    edited October 2020

    Hello @asubbaiyanprof,

    Thanks for trying this and posting back!

    I am a bit confused, however, on why you're unable to edit the category of the transaction. You should be able to edit the category on any transaction that resides in a normal spending-type account, such as a checking account. Do you have your loan payments set up as Recurring Transactions, by chance, and if so, is that where you're attempting to edit them?

    Please let me know so I can best assist! :smile:

    -Coach Natalie

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