Set up loan payment suggestions
Keep loan terms and reusable payment amounts ready for statement review.
On this page
Step 1: Open the loan settings
Open Accounting > Loans. Choose Add loan for a new loan, or Edit for an existing loan. Check Loan name, Loan type, Portfolio/property, Current principal balance and Statement balance date.
Step 2: Choose what to track
Choose Balance only to track the dated balance, or Balance and payment forecast for planning details. For a forecast, enter Monthly payment and Interest rate together. Include escrow in Monthly payment. Check Monthly escrow, Term (months), Loan start date and Payment account. Select Suggest matching loan payments for review if wanted. For a new loan, choose Save and continue; for an existing loan, choose Save.
Step 3: Review a suggested withdrawal
In Import feed, inspect the pending withdrawal before recording it. A loan suggestion depends on the saved matching settings, the total amount including escrow and the payment account when selected. More than one matching loan or an unresolved duplicate can prevent a suggestion. Choose the correct loan and continue through Record a loan payment; a suggestion alone does not post a payment.
Step 4: Save a reusable split when recording
In Record a loan payment, compare Principal, Interest, Lender escrow and Additional principal with the statement. Select Save these amounts as suggestions for my next review if useful. Choose Review payment. When ready to record the reviewed payment, type RECORD LOAN PAYMENT and choose Record loan payment. The next payment form can reuse those amounts, but check every statement again.
Step 5: Review the loan activity
Choose View loan. Use Period and Transaction type to filter Loan activity, and check the recorded principal, interest and escrow. Loan insights and the payment chart summarize that recorded activity. Set opening balance records opening principal and lender escrow separately from a payment.
Check the result
- The saved loan holds its reviewed planning details and matching preference. A recorded payment can also supply a reusable four-part split.
FAQs
Are matching suggestions and saved payment splits the same?
No. Matching settings help identify an imported withdrawal. The suggestions checkbox in a payment record saves its four amounts for the next form. Both still need review.
Does a suggestion make a payment or book it automatically?
No. Use the statement-backed review and Record loan payment confirmation. Suggestions do not initiate a lender payment.
Does entering a dated balance set up opening debt and escrow?
A loan tracker balance is separate from the accounting opening record. Use Set opening balance on the loan page and the loan setup guide to review opening principal and lender escrow.
What happens to the lender escrow portion?
The payment records funding held by the lender. Record the later taxes or insurance through Record escrow activity when shown on the lender statement. See the escrow guide for that separate step.
Which balance should I enter?
Use current unpaid principal and its statement date, rather than the original amount borrowed. Check each actual payment against the lender statement, including for interest-only, HELOC or daily-interest loans.
What does Portfolio/property control?
It identifies the property or whole-portfolio scope of the saved loan. Check it before recording payments; this form does not automatically divide a payment across several properties.
How do I keep the history when a loan is refinanced?
Keep the old loan and its payment history. Use the offered Archive or Mark paid off action only when it reflects the old loan, and set up the replacement loan separately. Review its actual statement and opening balances rather than replacing the old terms and history.