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Mortgage appearing in Cashflow

Tips and advice on how to use Landlord Vision.
j_a_campbe
Posts:2
Joined:Mon Feb 12, 2018 8:25 pm
Mortgage appearing in Cashflow

Postby j_a_campbe » Tue Apr 17, 2018 9:49 pm

Hi,

I'm very new to Landlord Vision and accounting generally so there is a lot I don't quite follow perfectly. However most things I've just about worked out, but I don't understand one thing. In the Cash Flow Report the sum of all my mortgages (the actual sum borrowed rather than the repayments) are listed as Expenses (Mortgages & Loans). It makes my Closing bank balance very much in the Red. This doesn't make sense to me and appears to renders the Cash Flow entirely unhelpful to my eyes.

Have I set the mortgages up incorrectly or am I simply misunderstanding how the Cash Flow works?

Thanks,
John

roy
Posts:80
Joined:Tue Aug 23, 2016 11:38 am
Location:United Kingdom

Re: Mortgage appearing in Cashflow

Postby roy » Wed Apr 18, 2018 11:07 am

Hello John

Thank you for your question

To prevent your mortgages being paid into your bank account, set the Loan Payable To option to non-Bank Account. You can find this by pressing the Edit Mortgage button from within the mortgage. By default the non-bank account option will come up as Fixed Assets

Also, please ensure that the end date for your mortgage is correct and you have not accidentally set it to be one month long

Kind regards
Roy

j_a_campbe
Posts:2
Joined:Mon Feb 12, 2018 8:25 pm

Re: Mortgage appearing in Cashflow

Postby j_a_campbe » Tue Apr 24, 2018 10:23 am

Hi,

Thanks for that. That resolves the issue although I don't fully understand why. My very limited conceptual understanding of accounting is hampering me! :)

Regards,
John


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