I’ve got my mortgage and another loan on manual account.
I’ve just found the smart rule for auto creating transactions there linked to transactions from my monitored bank account which is great.
I need to add estimated interest on an automatic basis to give an idea of what is accruing. How can I go about this? Is there a feature I’m not using?
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The way I was looking into using, was when you look at the loan, they say how much you will pay back in total including interest, that is the balance I would enter and then you can see that go down. Obviously doesn’t work so well if you make a big one off/extra payments as interest to pay goes down, so would have to manually adjust after but in my case that would be rare. Would be nice to have a way to list original amount if somehow adjusted accordingly because that amount would more accurately represent your net worth at that time
This would be a really cool feature for us to add! I guess the only way you could do this currently would be to manually add transactions?
Yes! This would be amazing and great on any loan in fact.
It would be great to be able to set up a loan
In the loans tab.
Type the interest rate type the renewal of the loan or mortgage date, select how often interest is applied and then have Emma automatically do the calculations.
Then I could set up a smart rule for the loan and mortgage payoffs to deduct from the loan/ mortgage but then also have the interest auto accrue for a better reflection of how much I owe.