Import Loans - Getting Ready
You can import loans from File > Import > Loans...
When creating your Excel file, here are some tips to make the import as easy as possible.
Put descriptive headers in the first row of the worksheet. Moneylender will display whatever’s in the first row in the boxes for the mapping options. Having column headers that say “Opening Balance” is much easier to identify than something like “pnc”. Give yourself good headers. It beats the alternative of making a mistake and filling your portfolio with 1000 invalid loans!
You select one lender for all the loans being imported. If you need to import blocks of loans under different lenders, create separate worksheets or separate Excel files for the loans for each lender so you can run the import separately for each group.
Run through the chosen loan wizard and see which options you will need to change from their defaults when setting up a loan.
The import process starts with the defaults from your selected loan wizard prefilled into the loan setup properties. Any mapping you do will replace what was set there by default with the value you choose. You only need to map values that are different from the wizard. Also, because you can type any valid value into the mapping boxes of the wizard, if all loans share a single value, you don’t need a column in the Excel file to hold that value for all rows; you can just type it into the box. Typically, you’ll be mapping at least the dates and amounts to the loan wizard.
When you create a loan manually in the normal loan wizard, do you need to subsequently edit the loan settings, the regular payment settings, or the interest rate settings after setting up the loan?
If so, make a note of exactly what value you have to change and you can set that value in the post-processing step of the import wizard. This step is where you can alter the properties of those records once they are created by the wizard.
Do you need to add escrow, adjustments, prepaid interest and fees, secondary borrowers, or any other configuration to the loan after it was set up?
You can add those additional records, and map or type the values you need into their properties. Again, only values that are different between loans need to be present in the excel file. If all your loans have a $5 monthly fee that starts on the date of the first payment, you can add the $5 fee, and the only field you need from Excel is the date of the first payment.
All steps for Loan Import:
Choose Source File
Choose Loan Wizard
Post Process Edits
Additional Configuration Records
Additional Settings Mapping