1 On the
navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click
Accounts.
2 At the top of the left pane, click the down-arrow
, and then click the account you want.
2 On the transaction forms at the bottom of the screen, click New.
3 In the
Pay to field, enter the loan
payee (The individual or business to whom a check is written.).
4 For Category , enter Loan Payment.
5 After the category name, type a colon, and then enter the name of the loan.
6 In the Amount field, enter the payment amount plus the late charges, and then click Enter.
7 When you receive a message about the sum of the splits, click OK. The Loan Payment dialog box appears.
8 Enter a new line for the late fee.
9 In the Category field, enter Bank Charges.
10 For Subcategory, type a colon after Bank Charges, and then enter Late Fees.
The unassigned amount at the bottom of the Loan Payment dialog box should be zero.
11 Click Done, and then click Enter.
I don't have a subcategory for late fees. How do I create one?
1 Type a colon after Bank Charges, and then type Late Fees.
2 Press TAB. The New Category wizard appears.
3 Follow the instructions on the screen.
Will my late fees affect the rest of my loan?
Late fees generally don't affect the principal (What you still owe or are owed on a loan.) and interest (The cost of borrowed money. Interest payments do not reduce principal on a loan.) portion of your payment. They're simply added to your payment.
How do I enter a loan payment?
How do I change information about my loan?