New Loan Accounts | Adjust Interest Amount?

Is there a way to adjust the interest charge on the new loans (where it automatically calculates interest based on the interest rate) if it's off slightly?  Or is the best way to use the "Update Balance" button?

 

Thanks.

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  • I believe you can edit the interest on the loans by clicking the pencil after it has become a loan account. 

     

     

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  • Yes, but I'm asking how to edit the charge amount, not the interest rate percentage.  So, once YNAB applies the interest to the account for the month (using the interest rate), if it's off a few dollars how do I reconcile the account to the proper balance?

    Like 1
      • nolesrule
      • Stealing From the Future fix is an improvement but is incomplete....
      • nolesrule
      • 1 mth ago
      • 2
      • Reported - view

      Chappy they expect you to do a balance adjustment. However I don't know how that effects the reported principal vs. interest breakdown. From support responses, it seems YNAB doesn't think that level of exactness is necessary.

      Like 2
      • Chappy
      • Architectural Designer
      • Chappyeight
      • 1 mth ago
      • 1
      • Reported - view

      nolesrule Interesting.  I've always entered my interest charge amounts exactly.  I hope it becomes an option again as they develop further.

       

      Also, would be nice to have the "Undo" button on the loan pages.

      Like 1
    • Chappy said:
      I hope it becomes an option again as they develop further.

      Also, would be nice to have the "Undo" button on the loan pages.

       This is great feedback - would you be willing to send that over to our product team? They're able to ask the questions they need for it to be most effective.

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      • Chappy
      • Architectural Designer
      • Chappyeight
      • 1 mth ago
      • 2
      • Reported - view

      Marisa I actually sent something to them yesterday and am in discussions with Wade.

      Like 2
    • Chappy yea i find it annoying seeing a wrong principle and interest under Paid so Far.  I hope they make that an option.  

      Like 1
      • Ordizzle
      • ordizzle
      • 4 wk ago
      • 1
      • Reported - view

      Marisa I've submitted this to the product team as well.  This should've never been released out of beta with such a sloppy implementation.  Please prioritize getting this fixed.

      Like 1
  • It just divides the interest rate by 12? My interest is calculated daily, so the amount calculated by YNAB is always going to be wrong, and even if I adjust the balance, the figures under "Paid So Far" will be incorrect.

    I adjusted the balance, and now the figures in "Paid So Far" add up to the total amount paid + adjusted balance. It should have increased the interest paid and reduced the principal paid by the adjustment amount, but instead, it added the adjustment amount to the principal paid.

    E.g.
    Paid So Far: 3000, Principal Paid: 2500, Interest: 500

    If I adjust the balance so that 505 interest was charged, the figures should be:
    Paid So Far: 3000, Principal Paid: 2495, Interest: 505

    Instead, YNAB does this:
    Paid So Far: 3000, Principal Paid: 2505, Interest: 500
    All three figures are incorrect.

    Like 2
      • Ordizzle
      • ordizzle
      • 4 wk ago
      • 1
      • Reported - view

      Salmon Mermaid Additionally, if you try using this for a mortgage account that has Escrow Payments taken out of the monthly payment, it's going to be even more wildly off.

      Like 1
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