Adding An Expense To The Value Of The Loan
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The following method will help you record the fees that you would like to add to or deduct from the loan amount.
Add a bill for the fees. Use this article if you need to - Adding A Bill
If the amount was added to the loan, set the amount to be a positive number,
If the amount was deducted from the loan, set the Amount to be a negative number. (e.g. -£1000)
Set the relevant Expense Account and also the Unit and Loan
Tick This Expense is Paid. Set Paid From to be Mortgage and Loan Capital
Press Save
The amount borrowed on the Mortgages page will remain the same, but the amount outstanding when you open up the loan will be updated
*NOTE - If the fees are not added to or deducted from the loan value amount then simply add a bill (Expenses > Bills) > assign the category accordingly > set it to the relevant loan and pay it from the Mortgage & Loan Capital account.
Add a bill for the fees. Use this article if you need to - Adding A Bill
If the amount was added to the loan, set the amount to be a positive number,
If the amount was deducted from the loan, set the Amount to be a negative number. (e.g. -£1000)
Set the relevant Expense Account and also the Unit and Loan
Tick This Expense is Paid. Set Paid From to be Mortgage and Loan Capital
Press Save
The amount borrowed on the Mortgages page will remain the same, but the amount outstanding when you open up the loan will be updated
*NOTE - If the fees are not added to or deducted from the loan value amount then simply add a bill (Expenses > Bills) > assign the category accordingly > set it to the relevant loan and pay it from the Mortgage & Loan Capital account.
