What category would best fit to record cash from a private lendor and the initial loan principle balance?
I have already set up both initial loans in the properties tab but did not know if I should also record them in transactions as well. (the cash deposit is showing up on my transactions that is linked to the bank account)
I would record it as a “transfer” that way Stessa doesn’t record it unintentionally as income. The sub-categories within the transfer menu aren’t specific to loan proceeds. Private loans are obviously the wild west. I’m surprised the money didn’t go straight to escrow/title company.
-Tom