Landlord Vision

Hi, new to Landlord Vision and in the process of setting up.

I've added a Bank Account, including an opening balance (as an example, let's say £5,000), and also within the Finance Manager section added a new mortgage/loan (an an example let's say £40,000); however when viewing the Bank Account, it's showing it heavily in the red (-£35,000) due to the outstanding mortgage.

Why doesn't it show the actual balance, or is this something I have done wrong?

Hello

Thank you for contacting support

The Finance Manager records that you have received £40,000 for the use in purchasing a property, you now need to record that this purchase has been made. Go to Property Manager > Expenses > Add Expense and fill in the details to match up the amount of the mortgage.

Create a supplier as either the name of the property, or one called Properties
Set the Cost Type to Capital
Set the Amount to be the value of the mortgage
This will now contra off the £40,000 in the bank account and leave you at £5000 again

Kind regards
Roy

Hi, new to taking creating on a daily basis and in the process of setting up.

I've added a Bank Account, opening balance (as an example, let's say £5,000), and also within the Finance Manager section added a new mortgage/loan (an an example let's say £40,000); however when viewing the Bank Account, it's showing it heavily in the red (-£35,000) due to the outstanding mortgage.

Why doesn't it show the actual balance, or is this something I have done wrong?

Thanks for explaining that Roy, I was confused too.