How to best track P2P Loans

Support Questions
1

Hi there,
Are there any tips to track P2P loans?
In the help documentation just found that they can be tracked as dividends or interest but would apreciate more guidance on this.

Thanks

2

Let me walk you through exactly how to track P2P loans when you’re the lender using the buy/sell transaction method.

Step 1: Create a Custom Asset

  • Choose type “Other” (this works best for P2P loans)

Step 2: Record the Initial Loan (Buy Transaction)

  • Add Buy Transaction
  • Date: When you sent the money
  • Quantity: The full amount you loaned
  • Price: 1

Step 3: Record Interest Payments

  • Add Interest Transaction
  • Enter:
    • Date: When you received the interest payment
    • Amount: The interest amount received

Step 4: Record Principal Repayments

  • Add Sell Transaction
  • Enter:
    • Date: When you received the repayment
    • Quantity: The amount of principal being repaid
    • Price: 1

Tips for Better Tracking

  • Use the Notes field to keep track of payment schedules
  • If you have payments in a CSV anywhere, create yourself an import preset to automate this
  • If the loan defaults, you can record a “Sell” with a lower/0 price to show the loss
  • For ongoing P2P loans through platforms, you might create one asset per platform rather than per loan

Does this help with setting up your P2P loan tracking? Let me know if you need any clarification on any of these steps!

In the future I’d want to have loans, including p2p to be natively supported with their own types and transactions that combine the above.