Loan payment missing from register; cannot fix next payment date
GeoDosch
Member ✭✭
I have a loan which has been set-up in Quicken since Sept. 2015. I make a payment on the first of each month from my bank's bill pay system, and in Quicken I have the scheduled reminder set to automatically enter the transaction into the register on the due date.
When I was reconciling my October statement for the account that it gets paid from, I noticed that the payment was missing from the Quicken register (it was on the bank statement.) I looked on the "Manage Manual Bills and Income" screen, and the transaction showed it was next due on 11/01.
The first issue is that I have no idea why this transaction was not entered into the register, but the next payment date was bumped to the following month.
The second issue is that I cannot fix the next payment date. I can edit the reminder, and change the date to 10/01, but when I save the record it just goes back to 11/01 (no error or warning messages are displayed.)
When I first looked at the loan payment schedule, it was showing the 10/01 payment as a future payment (this was in the middle of October.)

I went into the Loan Details screen and re-saved the information, hoping that would fix the issue. It did not, though it treated it as if it were an interest rate change. Then I entered the 11/01 payment into the register (which had the correct principle and interest for the October payment), then edited the date from 11/01 to 10/01. Now when I look at the Payment Schedule, I see this:

So now I've managed to push the 'missing' month from October to November, but cannot get the payment schedule back on track.
So I need to know 1) why was the scheduled payment not entered into the register, and 2) how do I fix this?
I'm on Quicken Premier R14.27 on Windows 10.
When I was reconciling my October statement for the account that it gets paid from, I noticed that the payment was missing from the Quicken register (it was on the bank statement.) I looked on the "Manage Manual Bills and Income" screen, and the transaction showed it was next due on 11/01.
The first issue is that I have no idea why this transaction was not entered into the register, but the next payment date was bumped to the following month.
The second issue is that I cannot fix the next payment date. I can edit the reminder, and change the date to 10/01, but when I save the record it just goes back to 11/01 (no error or warning messages are displayed.)
When I first looked at the loan payment schedule, it was showing the 10/01 payment as a future payment (this was in the middle of October.)
I went into the Loan Details screen and re-saved the information, hoping that would fix the issue. It did not, though it treated it as if it were an interest rate change. Then I entered the 11/01 payment into the register (which had the correct principle and interest for the October payment), then edited the date from 11/01 to 10/01. Now when I look at the Payment Schedule, I see this:
So now I've managed to push the 'missing' month from October to November, but cannot get the payment schedule back on track.
So I need to know 1) why was the scheduled payment not entered into the register, and 2) how do I fix this?
I'm on Quicken Premier R14.27 on Windows 10.
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Comments
I did run the file validation prior to first reporting this, and again just now.
But today Quicken thinks the next due payment is 1/1/19. I confirm that the 12/1/18 payment has not already been entered into my checking account. I go to my second mortgage and same thing. Quicken thinks the next due payment is 1/1/19 when it should be 12/1/18.
So I pull up the payment schedule (see screenshot below) and the monthly payment schedule lists 9/1/18, 10/1/18, 11/1/18, 1/1/19 (note that 12/1/18 is missing). For both mortgages it's the same (12/1/18 is missing).
So I pull up a backup file where the last payment to the mortgage in my checking account is 8/1/18. In this file when I pull up the payment schedule (see screenshot below) and the payments listed are 6/1/18, 7/1/18, 8/1/18, 10/1/18, (note that 9/1/18) is missing.
Note that in live data file (1st screenshot) 9/1/18 is not missing but in the backup file (2nd screenshot) 9/1/18 is missing and in the backup file 12/1/18 is not missing but it is missing in the live file.
Something has happened in Quicken in the last 30 days (approximate days since I last entered mortgage payments) because when I entered the 11/1/18 mortgage payments on or about 10/2/18 Quicken correctly identified the next mortgage payment date as 11/1/18. I do not want to enter any mortgage payments now and change the payment date because I fear it may do more damage to the payment schedule.
Your quick attendance to this issue is greatly appreciated.
ps. These loans are manual and not tied to a bank/download.
QWIN 27.1.15.16
Questions? Check out the Quicken Windows FAQ list
QWIN 27.1.14.27
Is the running loan balance correct even with the missing payment. If so that probably points to (another) display problem that apparently cropped up with the .15.xx updates.
Questions? Check out the Quicken Windows FAQ list
Not knowing your loan setup details, and not seeing your payment schedule amounts, makes it difficult to tell whether a payment is actually missing, or whether the 12/1/2018 payment is now scheduled for 1/1/2019, or ....
I can reproduce a payment schedule that looks much like the one you displayed, though nothing in your problem description suggests you did anything to cause the change to your payment schedule. But perhaps knowing how to intentionally create what you're seeing might shed some light on how it could have happened unintentionally.
If the user modifies the Loan Payment Reminder "Due Next On" date to one, or more, due dates in the future; when trying to save that change, the user will be prompted with a message like this: "Quicken has calculated that the remaining principal for your loan as of mm/dd/yy should be nn,nnn.nn. Would you like to update your loan balance?".
If the user clicks the "Yes" button, Quicken adjusts the loan balance to reflect the amount of principal that would have been paid had the Due Next On date not been modified.
If the user clicks the "No" button, no adjustment to the loan balance is made.
After that Reminder Next Due On date change has completed, the Loan Payment Schedule will be modified to look like the one(s) you posted here. And if the user elected to accept the loan balance adjustment, there will be a transaction in the Loan account register with a Payee of "Balance Adjustment", a category of [Loan Account] (a transfer back into the loan account), and an amount equal to the amount of principal payments that were "skipped".
In my testing, when the Reminder Due Next On date has been advanced, the results can be backed out, and the loan status returned to its state before the change. Modifying the Loan Payment Reminder Due Next On date back to the true next due date restores the Loan Payment Schedule to its original contents. If a loan balance adjustment was made, that transaction can be manually deleted.
If it were me, I would:
_ Make a permanent backup of the Quicken .QDF file as it now stands (I would never "open" (or "restore") this backup)
_ Make a Quicken duplicate of your data (File > Save a copy as ..." to a temporary folder
_ Open the "Save a copy as" Copy in that temporary folder
_ Change the Next Due On date for the Loan Payment Reminder to the true next due date
_ Remove any loan register adjustment transaction, if present
Check to see that things are back to normal in the copy - you might even try entering a payment (or two). If things look good, you at least know you can recover. If/when you do that for real would be up to you.
[You could also create a New (test) Quicken file, setup your loan in that file, and play around with modifying Next Due On date and noting the results - then "undoing" the due date change(s).]
That still leaves no explanation for what caused the unwanted change in the first place - and I really have no idea.
Either before attempting the recovery of the loan in the Copy (from above), or after using Windows to copy the permanent backup (from above) to the Copy (from above) to get back to the un-recovered state: you could try Validating the Copy (and super-Validating, if Validate doesn't help). Note whether anything changes or whether Quicken reports any data problems. Since you're not going to keep the Copy, you could also try Validating/super-Validating after attempting the loan recovery, in case there is some data corruption that validate can identify.
Questions? Check out the Quicken Windows FAQ list
Further, if I had done something I would have seen it back in September (the backup screenshot) and addressed it then. But since I am just seeing the change in payment due date now, and when I go back to the backup it has the same problem when I assure you the 9/1, 10/1, and 11/1 payments were all entered w/o any manual changing of dates there is definitely a software problem that needs to be investigated. It doesn't matter what the date of the backup is that I restore it shows the same problem for that next payment date.
Questions? Check out the Quicken Windows FAQ list
Questions? Check out the Quicken Windows FAQ list
*Edit* I went ahead and paid my 1/1/19 payment on 12/1/18 just to see if that would help, now it shows my next payment is due 2/1/19. If I go into the loan account and edit the monthly payment (on the bar across the top) I can see it change to the month I just updated and then immediately change to the next month.
*Edit 2* Well, while doing other stuff Quicken crashed on me today. When I opened it back up, it allowed me to set my next mortgage payment to January.
Still, I have a vague recollection of this same thing happening last year.
This is incredibly frustrating since I've been managing these loans the same way in Quicken for years. Now I'm afraid I may miss a payment because I rely on my Quicken reminders to tell me what is due each month. Obviously something is broken!
The only thing that worked for me, trying it different ways (downloadable also, which is another mess w/ no transaction register) and I have reserved to continue to doing it manually:
On the 'Payment Details' tab > 'Edit Payment Details' > change the 'Next payment due' date to reflect the actual month needed. Worked for me because my next payment date is 1/1/19
This seems to correct the missing month and I have entered the missing payment accordingly.
[removed]
Next Payment should be 2/1/19 but it says 3/1/19.
If I go into the loan details and change the next scheduled payment to 2/1/19 right when I click save it still jumps to the 3/1/19 date.
However, if I go into loan payment details and change the next payment date to 2/2/19. it will take that and then is correct. At least until I make the next payment then in jumps a month ahead again.
Once it jumps ahead again I have to pick a different day of the month to get it to update correctly. since last time I changed it to the 2nd I have to pick the first next time I fix it every month. and I have to jump back and forth each month.
Then after a couple of months on the mortgage, the same behavior started up on my installment loan as well.
This is a very critical issue as this messed with my budgets, projected balances, and not missing a payment.
Looking at all the info in this thread it looks like a serious break in the software and needs to be corrected asap. My file validates fine every time and there are multiple people with the same issue.
I have been a Quicken users sense quicken 98. I would hate to have to move to something else.
I noticed that when I changed the "Due Next On" to be the correct next month payment, it would stay for a second, flicker, and then revert to the following month. It seems there is some validation/rule running in the background that is rejecting my edit.
In an attempt to trick the rule, I changed "Due Next On" to a different day of the month (from the 1st to the 2nd).
This seems to have worked. My edit stuck, and now my future payments list is correct. I tried changing it back to the original date, to see if something had perhaps cleared, but it went back to skipping the month.
This works for me, since this is an automated transfer and logging it 1 day later makes no real difference.
https://community.quicken.com/discussion/7806771/loan-payment-missing-from-register-cannot-fix-next-payment-date#latest