[moneydance] Loans to Others

[Jill Lundquist]

On 1/2/07, Tom Albrecht III <talbrech at speakeasy.net> wrote:
>
> > -----Original Message-----
> > From: Edward Reid [mailto:edward at paleo.org]
> > Sent: Tuesday, January 2, 2007 08:42 PM
> > To: 'General discussion related to Moneydance'
> > Subject: Re: [moneydance] Loans to Others
> >
> > You can find loan calculators all over the web ... just find one you like.
>
> There's a loan calculator built into Moneydance.  That's not what I'm looking for.  I'm looking for something that will automatically integrate the loan payments into my reminder list.
>
> The logic is already there for loans that I've taken on.  I don't see why it can't be there for loans to other people.

I have to agree.  I have a loan to someone else, and I keep it in a
spreadsheet.  Each month when the payment is deposited in my bank
account I enter the payment amount on the spreadsheet.  Spreadsheet
calculates how much is interest and how much is principal, then I copy
those amounts into the split transaction in Moneydance.  I then check
the loan balance in Moneydance against the one in the spreadsheet.

It would be nice to have the interest calculation integrated into
Moneydance.  I can also imagine a way to do it as an extension.  The
extension would have to know what category represents the loan
balance, along with the interest rate and how many payments per year.

        Jill