Why create a mortgage:

Included in the software is a mortgage module that allows for automatic calculation of your outstanding mortgage and allocates the principle and interest based on your accounting preferences either cash flow (mortgage+principle) or income (interest only).

Main Screen:

The main screen will display any active mortgages, to view the transaction click on the eye button Screen Shot 2016-02-03 at 5.39.48 PM or click on the delete Screen Shot 2016-02-03 at 5.41.09 PM button to stop the mortgage.


How to create a mortgage:

Step 1

  • Go to the mortgage screen click on the ACCOUNTING option on the main menu
  • Click on MORTGAGES from the top menu 
  • Next click on the GREEN PLUS Screen Shot 2016-02-03 at 5.42.07 PM icon at the top right of the screen:

Step 2 – Enter the mortgage info:


  • In the TYPE drop down based on your country choose either American (compound monthly) or Canadian (semi-annually). Note for European mortgages please choose American (compound monthly)
  • In the FREQUENCY drop down you can choose your amortization period (e.g. monthly, bi-weekly, etc.)
  • NEXT PAYMENT DATE: field used as a start date or next payment date (Note: this can be found via your bank website)
  • REMAINING AMORTIZATION: used to calculate what is left for the mortgage amortization; choose from the two drop downs “YEAR” and “MONTH” (Note: this also can be found via your bank website)
  • BUILDING: choose the building the mortgage is linked to
  • LOAN AMOUNT: enter the remaining amount of the loan before the NEXT PAYMENT DATE
  • INTEREST RATE: enter your current interest rate


How to manage your Mortgage:


“Mortgage” View:

  • VIEW Screen Shot 2016-02-03 at 5.39.48 PM icon to view the details of the mortgage
  • TRASH Screen Shot 2016-02-03 at 5.41.09 PM icon will not delete the mortgage but make it inactive

“Mortgage Payments” View:

  • EDIT Screen Shot 2016-02-03 at 5.55.18 PMicon to edit the payments interest rate or pre-payment entry
  • TRASH Screen Shot 2016-02-03 at 5.41.09 PM icon will not delete the mortgage but make it inactive
Note: To reactivate the mortgage you will need to recreate a new mortgage.

Examples of why you would edit or delete payments:

Variable Mortgage rates increase
You have a variable interest mortgage and the rate increases. You would edit the rate for the period the interest rate increased and the future payments will recalculate based on the new interest rate.

You add a prepayment based on your yearly allowance you would enter the amount for the period the payment was completed and the mortgage will recalculate base on the remainder of the principle.

Why delete payments?

Because an inactive mortgage has active payment entries each entry has to be  manually deleted. To delete the entry you can click on the TRASH Screen Shot 2016-02-03 at 5.41.09 PM icon next to the entry you wish to delete. Once the entry has been deleted the data will not appear in the income statement or financial reports.