Compound Interest in scheduled transaction

Asked by Steve Mottram

Hi, I would like to be able to manage a loan with monthly payments. The monthly payment from my current account is handled fine when I import my bank statement, through an internal transfer transaction type. However I would like to also have HomeBank add a scheduled transaction on the loan account to show the interest charged, because the bank does not make an electronic file available for the loan account.

Because the loan uses Compound Interest, the interest charged each month will depend on the previous account balance history. Is there any way of handling this in a scheduled transaction, or are their any simple work-arounds? Is Compound Interest a feature that might be added to HomeBank?

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Launchpad Janitor (janitor) said :
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