<klink type="prcdr">How do I create a loan account?</klink>
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<tease>Why?</tease>
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<p>Use a loan account to track your amortized loans, such as car or home loans. Money automatically calculates the <glossary>principal</glossary> and <glossary>interest</glossary> of each payment and keeps track of the balance due. For loans that do not include interest, use a liability account. <alink type="prcdr" href="Createaliabilityaccount.xml"/></p>
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<li>On the <emph>Accounts & Bills</emph> menu, click <emph>Account Setup</emph>.</li>
<li>Click <emph>Add a new account</emph>.</li>
<li>Select the bank where you have this account, and then click <emph>Next</emph>.</li>
<li>In the list of account types, click <emph>Loan</emph>, and then click <emph>Next</emph>.</li>
<li>Follow the instructions on the screen.</li>
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<tease>What if I don't know all the amounts the wizard asks me for?</tease>
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<p>When you set up a loan, you can leave one value blank and have Money calculate it. For example, if you don't know the payment (principal plus interest) amount, leave it blank. Money calculates it automatically.</p>
