Adding a Mortgage to a Property
- Double click on the ‘Property’ record you wish to add the Mortgage details for it to open the window then click on the ‘Finance’ tab (bottom bar).
- then click on ‘Mortgage’ tab (top bar).
- Click on ‘Add’ for a new window to appear.
- Enter the details of the Mortgage, leaving nominal because it will automatically create one once saved.
- When adding ‘Provider’ click on the little box to the right.
- if the Mortgage Company is in the list click on it once to highlight in blue and click ‘OK, if it doesn’t appear in the list click ‘Add’ and the contact record will appear for you to create new contact, once contact create it will then appear in the list for you to select - then click on ‘Payment’ tab (bottom bar).
- Make sure the ‘Record Mortgage Payment’ is ticked and fill in the information, once completed click ‘Save’.
- Now click on the drop down arrow against ‘Mortgage’ and select, it will then prefix the information, ‘Save & Exit’.
- Now this is set up it will create a transaction on the date you selected each month in ‘Recurring Charges’ window under ‘Mortgage Payments.
- From here ‘Post Transaction’.
- Now you have set this up, you want to record ‘Interest’ Go to Property record and click on ‘Finance’, then ‘Mortgages’. In here click on ‘Interest’ to bring a new window up.
- Enter date, ‘Debit’ nominal (from ‘7000’ range) and the interest amount, then ‘Post’ – it will ask ‘Are you sure you want to transfer funds’ – click ‘Yes’.
- The transaction will appear in the ‘Mortgage’ window.
Please see attached document for more information.