Loan or Mortgage Details no longer say 'Calculated' in Bills and Deposits

If you have a loan or mortgage which does not calculate its values (typically seen when viewing the loan and noticing that the amortization isn't working), then you may have a problem with the Bills/Deposits entry in your file which is set up to handle your loan.

Viewing that entry in bills and deposits, clicking on the split information you may not see the words 'Calculated' against the principal and interest payments. If you are having this problem with a loan or mortgage, take a backup of your file first. Then delete the incorrect bill in bills and deposits.

What you can then do to restore the amortization schedule, and to put 'calculated' back into the bills/deposits record, is move the loan or mortgage account into the debt reduction planner, follow through the steps of this wizard and at the end, the wizard will create a new entry in the bills and deposits place.

Check you've now got this scheduled transaction in the bills and deposits area. Next go back to the debt reduction planner and remove the loan account from it. Do not delete the bill if it asks. Then go back to the bills and deposits area and check that it again says 'calculated' in the split. Make sure you don't save any changes to this bill entry, so you should cancel out of the bill view.

It is not recommended that you put amortized loans in the debt reduction planner, as it isn't really designed for that, but this mechanism of moving the account into and out of the debt reduction planner allows Microsoft Money to recreate the calculated payment.

With any loan, Money will do its best to get the exact split between interest and principal correct, however, these won't always match what your bank or lender says to the last penny or cent due to different ways that banks have of calculating these figures.