I have looked around and have not found a way to keep track of loans and transfers to savings from the checking account.

Is there a way to enter the loan payment once and be able to inter it into the liability account, and track it in the budget?

Thank

Budgets do not support asset and liability accounts at the moment. That includes loans.
Sorry

Thanks for the info.

You may want to look into scheduled transactions and forecasting to solve this particular problem.

Hei Ku wrote:Budgets do not support asset and liability accounts at the moment. That includes loans.
Sorry

Wow! 5 years later and this still hasn't been fixed? A budget is pretty useless if it doesn't reflect what is probably the largest single expense that anyone has. If they have a car loan on top of that, it's even more out of whack. Is there a way to escalate this so that it's addressed in the next release?

Thanks. I know the developers all work hard at turning out a quality piece of software for which they receive no financial remuneration.

Since I saw no point in the budget feature of KMM if it didn't include loan payments, I came up with the following work around. Admittedly it is far from a real solution, but it works for my purposes and maybe a help to someone else.

1. I set up the following categories:
Mortgage account: Mortgage principal
Mortgage account: Mortgage interest
Mortgage account: Mortgage escrow

2. I set up the mortgage loan as normal, assigning the interest and escrow categories to the split for the payment. If I did nothing else, the rest of the payment would go to reduce the loan balance.

3. This step allows me to use the entire mortgage payment as an inclusion in the budget. As each payment is made, you get prompted for whether the accounts and amounts are ok, so at that point, I change the portion of the split that would automatically go to reduce the loan to a payment to the Mortgage principal account. That in effect means that the loan never shows any reduction, which isn't a big deal to me. My plan is to reconcile the loan balance at the end of each year by moving the amount in the principal category into the loan account, and if necessary doing a balance adjustment so that my figures line up with the statement the bank sends me. At the same time I'll move the funds from the escrow account to the property tax and home owner's insurance categories as per the same bank statement.

As I said, this is less than an ideal solution, but it does allow the entire mortgage payment to be included in the budget calulations.

HTH