Hi....
When I set up a loan in Loan Manger, then make my first payment from there, it does put the interest in the right interest expense account but it doesn't count the interest as part of the pay off in the loan balance, only the principal is showing up subtracted from the liability account. What do I need to do to remedy this?
Hi BookLady57,
Go back and check how the loan was set up. Make sure its correct.
If this helped you, please mark this Solved so Intuit can close this thread. Thank you,
BookLady57.
Laura Kaniuk
Well, I have gone back and made sure that it was set up properly. It's pretty simple. Why is it not subtracting the interest portion of the payment from the loan?
Hi BookLady57,
I don't know why that's what I'm trying to figure out for you. Within the Loan Manager, did you make the payment by clicking on Set up payment? Also check and make sure the Interest Expense to set up correctly.
If this helped you, please mark this Solved so Intuit can close this thread. Thank you,
BookLady57.
Laura Kaniuk
Hi Laura...thanks for your responses. Yes, I made the payment by clicking on set up payment in the Loan Manager. I have given up, which is a drag. I liked the Loan Manager concept. I don't know...there are some bugs in this 2010 version that are driving me crazy and I have a sense that this is another one of them!
Hi BookLady57,
I guess I'll have to install my 2010 today. Will it allow you to manually enter the interest? I know you shouldn't have to do that but until it gets fix. Also, you might want to report that problem to Intuit so they can check it out and fix it.
If this helped you, please mark this Solved so Intuit can close this thread. Thank you, BookLady57
Laura Kaniuk
