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Loan account payment frequency

Hi, I pay my mortgage every two weeks and the interest is charged monthly. At the moment when I setup a loan the default payment frequency is monthly - can I change this? Thanks
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Hello Rick,

Yes, you can adjust the frequency of the Loan repayment by going to the Scheduled transactions section, finding the Loan payment and adjusting the frequency by editing the Scheduled transaction then clicking/tapping on "Months" label and changing it to Weeks.

Please note however that our Loans formula currently only supports monthly repayment so the interest/principal amounts are likely to be wrong - you'd need to adjust them every time you make a loan repayment.

We are working on a re-designed Loans formula that would support other forms of repayment.

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