Does Quicken Mac 2019 have Amortization Report?

Lysander Spooner

Does Quicken have any way to generate amortization reports with extra principal payments?

Does Quicken 2019 Mac have a feature like this:
https://financial-calculators.com/loan-calculator 

mshiggins

I recall QMac only recently added loan amortization. I don't think there is a separate amortization calculator.

Lysander Spooner

Does QW have this or did QMac 2007? I recall having this kind of calculator somewhere. I know there was a stand alone program for Windows years ago. I think it was Amortizer Plus or something like that.

It would be nice to have this built into QMac. It would make it easier to analyze loans and different payment strategies.

jacobs

Here's what the Quicken Mac loan entry screen looks like:


After entering initial values, it lets you track your balance and payoff date, and there's a What If screen that let you experiment with scenarios such as paying an extra amount with each payment, making a one-time extra payment, or working backward from setting an ending desired payoff date.



So I think the current loan functionality in Quicken does what you want. Of course, there are many free loan amortization calculators available online as well, for anyone who wants to do more detailed what if modeling.

mshiggins

Lysander Spooner said:

Does QW have this or did QMac 2007? I recall having this kind of calculator somewhere. I know there was a stand alone program for Windows years ago. I think it was Amortizer Plus or something like that.

It would be nice to have this built into QMac. It would make it easier to analyze loans and different payment strategies.

QWin has loan amortization tracking for loan accounts you set up in Quicken, a loan amortization calculator, and a refinance calculator.

smayer97

The calculators in QM2007 are a bit more basic as follows:


With the loan calculator, you can specific a starting loan amount and calculate the payment OR you can start with a payment amount and calculate the loan amount this allows. Then you can generate a payment schedule table showing the breakdown of principle vs interest.

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

Lysander Spooner

jacobs said:

Here's what the Quicken Mac loan entry screen looks like:


After entering initial values, it lets you track your balance and payoff date, and there's a What If screen that let you experiment with scenarios such as paying an extra amount with each payment, making a one-time extra payment, or working backward from setting an ending desired payoff date.



So I think the current loan functionality in Quicken does what you want. Of course, there are many free loan amortization calculators available online as well, for anyone who wants to do more detailed what if modeling.

THANKS! I did not know this was there. I converted an account setup as a liability to a loan and was able to see these screens. Very helpful!

Lysander Spooner

I notice that now the Reconcile menu is no longer available in the loan account. Is this correct or a bug?

jacobs

Lysander Spooner said:

I notice that now the Reconcile menu is no longer available in the loan account. Is this correct or a bug?

Loan accounts have not had a reconcile option since the loan feature was added several years ago. So I'd say Quicken would say this "is operating as designed" and not a bug. That's not to say it wouldn't be useful.

smayer97

Lysander Spooner said:

I notice that now the Reconcile menu is no longer available in the loan account. Is this correct or a bug?

BTW, QM2007 and earlier also never had a reconcile function for loans. All it has is the ability to perform an adjustment as of a certain date, which clears all previous transactions and marks them reconciled. I have never found a need for more than that in over 25 yrs. 

Lysander Spooner

Lysander Spooner said:

I notice that now the Reconcile menu is no longer available in the loan account. Is this correct or a bug?

Thanks for the update. I wonder why Reconcile was purposely omitted.