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How I can add my home loan monthly EMI in this software?

edited March 2013 in General

You can enter your Home Loan under Loan category (the last in the list).

Follow the process below:

 

1)    Double Click the Loan Icon

2)    Select Transaction type as ‘Borrow’

3)    Click New button and create the name of the housing loan

4)    Keep the interest rate as zero and select the Interest type as Pay-out

5)    Enter Your first transaction as full loan amount

6)    Click Save to save the first transaction

7)    Now right click this loan name and select ‘Add Transaction’ and enter the subsequent EMI transactions as ‘Payback’ and enter principal amount and interest amount in the transaction every month as per the statement from the loan provider company or bank.

Comments

  • edited June 2013

    Team,

    Can MProfit automatically add recurring EMIs and calculate interest/principal payments? It will save me some time

  • Hello,

    Right now we don't automatically generate those entries. You will have to manually add them.
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