|
Still working on trying to figure this software out! I ended up just reseting my account and now I'm slowly adding accounts to try and get a handle on a smaller scale first, before adding all of my accounts. One thing I'm not sure about handling is my auto loan. My bank reports the daily balance (which includes any accrued interest), which appears to match (at least today, I just added it) what PocketSmith has for the balance of the loan. Between my checking account and the loan account each month I have 3 transactions, - A negative transaction in my checking account which represents the full payment to the loan each month. - A positive transaction in my loan account which represents the portion of the payment that went to the principal. - A position transaction in my loan account which represents the portion of the payment that went to the interest. This account does not add a negative transaction that represents the interest, the total balance on the account (which actually represents the payoff amount if I were to pay it today) just behind the scene goes up. I'm not sure how to handle this, it seems like the way PocketSmith wants this to work is a single transaction in each account that represents the full payment, which gets marked as a transfer, and then a second transaction which indicates the interest being accrued each, month? I think if I mark the full payment in the checking account and the prinicipal portion as a transfer, and the interest portion as an expense, it'll show up incorrectly because the interest is showing up as a positive transaction, not a negative one and thus won't be an expense?
|
#
¿
Feb 16, 2020 02:28
|
|
|
|
| # ¿ May 10, 2024 18:22 |
|
|
Leng posted:
I’m not actually sure. It appears I don’t get monthly statements in my online account for that loan for some reason. I do for all my other accounts at USAA but apparently not that one. I just shred all of the statement mail I get from USAA because I had thought it was all online anyways. I’ll have to keep an eye out for the paperwork that’s coming now.
|
|
#
¿
Feb 16, 2020 21:33
|
|
This would drive me mental and it's confusing as hell. How does it report transactions on your monthly statements? Like the formal end of month statements, not just what it says if you login online to view transactions. Do you see a daily accrued interest charge increasing your auto loan balance?