All Topics / Legal & Accounting / Which software is best for offset loans

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  • Profile photo of miikemiike
    Participant
    @miike
    Join Date: 2008
    Post Count: 111
    June 16, 2009 - 12:44 am

    Hi All,

    I have been browsing different accounting and financial packages to see which would suite my needs best.

    Unfortunately I have been unable to locate which package is best suited for keeping up to date with 100% offset IO loans.

    I  would like to have the software keep track of my loans for accuracy of bank calculations on my loan and to keep records for all my accounting purposes on my properties.

    Also looking to use it for tracking my personal budget.

    Any advice on packages? Alternatively I have a feeling I may have to create my own…what a hassle!

    Cheers,
    Miike

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 16, 2009 - 12:53 am

    I have used various software over the years and nothing beats excel. You should be able to whip something up in excel. Maybe you would need 2 different tabs, one for the loan and one for the offset interest – treating it like a savings account – and then combine them,

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of miikemiike
    Participant
    @miike
    Join Date: 2008
    Post Count: 111
    June 16, 2009 - 2:39 am

    Thanks Terryw,

    I was thinking of creating a spreadsheet for this, however I can see myself spending way too much time on it.

    A package would be much easier and it's tax deductible, so not and issue with cost really.

    Cheers,
    Miiike

Viewing 3 posts - 1 through 3 (of 3 total)

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