Set up a loan account
Use a Money loan account to track money that you owe. To track every penny, give Money details about the loan , and Money will automatically calculate principal and interest payments, tax-deductible interest, and remaining principal.
To have Money perform detailed calculations for your loan payments, you'll need to enter information from your most recent year-end statement .
  1. Click Banking.
  2. Under Common tasks, click Add a new account.
  3. Choose Other account type, and then click Next.
  4. Click an account type.

    For car, boat, or other loans that aren't specifically listed, choose Long Term Loan.

  5. On the Choose level of detail page, do one of the following:
    • 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 completely.
  6. Follow the instructions on the screen.


If you used the loan to buy an asset and you want Money to calculate your net worth for financial planning, select Track transactions and other details.