Scheduling Automatic Loan Payments
Recording loan payments in Moneydance can be made easier using loan payment reminders. These are special reminders that automatically split the payment between principal, interest and escrow amounts based on the settings of a loan account. To create a loan payment reminder, select the loan account and then click the Actions->Payment Reminder button/menu. This will display a window where you can modify the accounts, categories, and schedule for the payment reminders.
Note: Most financial institutions use slightly different methods of calculating the interest on a per-payment basis, so the principal and interest amounts may be off by a small amount. Please verify these amounts against the principal and interest amounts in your payment schedule.