M
mlw
I am running MYM2003 SE Version 11.
I have set up my mortgage account as a loan with all of the information
regarding rate, term, amount, etc. I pay my mortgage to the bank from my
checking account online. When I prepare the transaction, I input the
Category as Loan Payment:Mortgage ( name of mortgage account).
The mortgage account collects the data associated with the transaction but
incorrectly calculations the amount of interest vs. principal. In fact the
calculation is also inconsistent. (i.e. January Payment Principle 700 vs.
1243.69, March Payment Principle (138.67). This requires monitoring the
account making "Account Adjustments" monthly. Not the way the software is
suppse to work.
The payment is set up as a split transactions as Principal Transfer
(Calculated), escrow and interest (calculated). When I first discovered the
problem, I deleted the mortgage account and resestablished history and it
seemed to work well with each transaction posted. But problem has continued
for last 6 months.
Any help. I have used this software on other loans including other mortgage
payments with no problems.
Thanks
MLWEST
I have set up my mortgage account as a loan with all of the information
regarding rate, term, amount, etc. I pay my mortgage to the bank from my
checking account online. When I prepare the transaction, I input the
Category as Loan Payment:Mortgage ( name of mortgage account).
The mortgage account collects the data associated with the transaction but
incorrectly calculations the amount of interest vs. principal. In fact the
calculation is also inconsistent. (i.e. January Payment Principle 700 vs.
1243.69, March Payment Principle (138.67). This requires monitoring the
account making "Account Adjustments" monthly. Not the way the software is
suppse to work.
The payment is set up as a split transactions as Principal Transfer
(Calculated), escrow and interest (calculated). When I first discovered the
problem, I deleted the mortgage account and resestablished history and it
seemed to work well with each transaction posted. But problem has continued
for last 6 months.
Any help. I have used this software on other loans including other mortgage
payments with no problems.
Thanks
MLWEST