Adding Mortgage Payments
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Once you have set up your mortgage you are then required to add the Interest and Capital payment amounts. Haven't set up your mortgage yet? have a look at this article - Adding A Mortgage
You are required to record the respective interest or capital amount separately against the correct capital and interest accounts. When the mortgage statement comes in, then you update the expenses with the correct splits.
Alternatively, you can record the payments just as payments and then when you get the mortgage statement, record expenses for the capital and interest and then allocate - similar to some utility bills
Navigate to Bills > Expenses > Green + > Add Expense
Date - Date of the Expense
Supplier - Mortgage Lender
Reference - Mortgage Reference
Expense Items
Amount - Amount of capital
Category - Choose Mortgage & Loan Capital Expense
Unit - The Unit or Units this Expense Item refers to
Description - Enter a description of this entry
Click Add Another Item
Amount - Amount of Interest
Category - Choose Residential Loan Interest
Unit - The Unit or Units this Expense Item refers to
Description - Enter a description of this entry
*Your one expense will have two items, one for the interest and one for the capital
If the Mortgage is a fixed rate you can set up an repeating Expense.
