How do I stop the income I receive from taking out a loan appear in my reports

After taking out a new loan, you will want to record the 'income' from this loan in Money, as the program does not automatically do this. If you put a transaction into Money which is for the amount of the loan, you will find that your income and expenses are 'artificially' inflated for the month you receive the income.

Technically, this is correct, but it skews the charts because the loan account itself is not included in the income and expenses chart (because only the principal and intest paid each month will be shown in that chart).

Many people want to avoid this, and you can do one of two things to help:
  1. Enter the deposit transaction using whichever category you like (i suggest 'Other Income: Loan Principal Received') and then customize to exclude that category from the report.
  2. Enter the deposit transaction without using a category


Category: Loans

Keywords: principal, income, report, loan

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