Managing loans in spending plans.
my question is about connecting directly to third-party’s managing loans. I set up my mortgager as an account. My bank is also an account that has the mortgage payment flowing through it. So now if I look at my list of bills, I have a bill listed in my checking account and one listed under my mortgager account. am I setting this up the right way? I think it may be duplicating the transaction, I was thinking the value to setting up the mortgager is that then I know how much principal I have left on the loan. This is a nice to have but if it’s messing up my calculations, then it’s not worth it.
I tried taking a screenshot, but I can’t seem to paste it in the thread
Best Answer
-
I might not be entirely understanding, so I'm sorry if my answer is totally irrelevant.
If one of the transactions is (-) and the other is (+), you could categorize it as a transfer from your checking to your mortgage account. If you want it to show it as spending and not as a net 0 in your spending plan, you can exclude the (+) transaction from your spending plan but keep the (-) transaction visible. I do this for my Roth IRA transfers as I want to show that this money is not available for spending.
If they are both positive or both negative, you could exclude one of them from your spending plan and/or reports as needed.
0