Use a Money
loan account to track money that you owe. To track every penny,
give Money details about the loan(An agreement
to borrow or lend money, usually with an interest charge on the
amount borrowed.) , and Money will automatically calculate
principal(The amount still owed on a loan. Also, the part of a
loan payment that reduces the loan's outstanding balance.)
and interest payments, tax-deductible interest, and remaining
To have Money perform detailed
calculations for your loan payments, you'll need to enter
information from your most recent year-end statement(Bank or brokerage records of transactions processed in
your accounts. Statements can be on paper, or they can be
downloaded or imported from your bank's Web site. ) .
Under Common tasks, click Add a new
Choose Other account type, and then click
Click an account type.
For car, boat, or other loans that aren't specifically listed,
choose Long Term Loan.
On the Choose level of detail page, do one of
If you don't care about tracking your principal and interest
payments, select Just track the total value.
If you care about tracking the details of your loan, select
Track transactions and other details. You'll have
to enter more information on your loan terms to set up the account
Follow the instructions on the screen.
If you used the loan to buy an asset(An item of
value that you own. Assets can be tracked in Money by using asset
accounts.) and you want Money to calculate your net worth(The value of everything owned by you or your business,
minus any of the values of any liabilities.) for financial
planning, select Track transactions and other