Home loan with redraw option

Hi all, I’m new to GoodBudget, I like what I see so far but seems as though I cannot track my home loan that has a redraw feature which means adding a negative transaction to my home loan account or transferring from home loan to bills account. Has anyone come across this or could point me in the right direction? Thanks for you time

Hi Kelvo83 – indeed the Goodbudget Debt Account feature works best for loans and debts where the balance being paid off is only being paid off, not changed around in any other way.

What you can do for some of those scenarios you’ve mentioned is manually adjust the relevant balances and then rename the Account Adjustment transactions that appear to explain what happened.

For instance, let’s say in real life you’re moving 100 from your home loan to your checking account. In Goodbudget, you’d go into the Edit Accounts page, then increase the checking account balance by 100 and increase the loan amount by 100 as well. Once you save, two new transactions named “Updated [Account Name]” will show up in your ledger. You can then rename these or add Notes to them to explain what they are.

Hi Alex, thank you for your detailed response, I thought that’s what I may have to do, I didn’t realise it keeps track of changes as a transaction as such though, thanks