[moneydance] Prosper.com Account Question

[Scott Zahn]

Doesn't that strike you as having a HUGE pain-in-the-butt factor?  Are you considering
doing this for 4-5 loans or whatever at x dollars each?  Now I'm anal with keeping track
of my money, but that strikes even me as being too anal, especially given the fact that
you can't download your transactions from prosper.  Seriously, I would keep just one
account for all that stuff and enter in transactions that arrive with the monthly
statements.  It's not like it's going to be complicated, probably one or two
transactions per loan per month.

On Fri, August 18, 2006 07:50, Elana Shenton wrote:
> So set it up as several accounts?  An asset when I'm moving money into
> prosper and haven't made a loan yet and then as a loan when I loan out the
> money?  The problem with that would be the loan origination varies and the
> $50 (or whatever) you invest is tied up until it originates and you don't
> start earning interest until it does.  One of the big negatives about
> prosper is they hold your money without paying you interest on it and can
> tie up funds for uncertain periods of time.   (I did mention I'm trying it
> out)
>
> On 8/17/06, Edward Reid <edward at paleo.org> wrote:
>>
>> At 06:26 08/17/06 -0400, Elana Shenton wrote:
>> >Any thoughts?
>>
>> Have you tried setting it up as a loan? Clearly MD loans are intended as
>> loans received, based on the terminology in the UI. But I just tried
>> setting up a loan with a negative principal, and it seemed to work.
>> Payment
>> calculated looked about right. Entering the APR normally should multiply
>> it
>> by the negative balance to result in  interest received. Hard to say if it
>> would continue to work for the term of the loan, but it starts out OK.
>>
>> OTOH, the loan calculator definitely does not work for loans given.
>>
>> Edward
>> Art works by Melynda Reid: http://paleo.org