I have looked through the HELP section for Q2005 with regards to Home Equity Loans.
Anyone have any suggestions on how to set this up properly as the balance will be increasing as the credit line is drawn down.
Thanks
I set mine up as a liability account, linked to my home asset account.
I assume the interest rate is variable and you have the option on the amount of principle to pay [this is how mine works].
I have a scheduled monthly payment from checking with splits for principle and interest. I edit the payment each month when it is posted to checking - entering the proper interest and principle payments. I get the interest due from the FI's web-site.
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