When creating a loan you may enter payments manually, or choose to schedule a recurring transaction reminder.
Using a transaction reminder will allow Moneydance to track how many payments have been made on your loan, how many are left, and the interest to principal ratio.
Most financial institutions use slightly different methods of calculating the interest on a per-payment basis, so you should verify these amounts against the principal and interest amounts in your payment schedule.
Loan Accounts can be created by selecting Account > New Account.
Then select the 'Loan' type, and enter the account details.
When you create a loan account in Moneydance, you'll be asked if you'd like to transfer the amount of the loan into an account. Doing this will add the principal of your new loan to the balance of another account.
You'll also be asked if you'd like to create a reminder for your loan payment. If you choose 'No', you can do this later. Loan payments reminders are detailed further in this article.
