Best way to record Mortgage Payments in QMac 2019?

Dave461

Hey gang-

Quicken Mac user since the 90s. Made the plunge this week from Quicken Mac 2007 to Quicken Mac Premier 2019. All in all it's gone well.

But I am stumped as to how to record a Mortgage payment. QMac 2019 remembers my Quickfill split transaction from QMac 2007 which is great. But when I enter it in my Checking Register, it is not credited in my Mortgage Payment schedule. In fact, what it does as shows the entire thing as an Extra Principal payment.

I checked the Categories in the split transaction and they appear correct for Mortage Interest, [Mortgage] principal, property tax, and insurance.

Is there a better way to initiate a Mortgage payment- perhaps from the Mortgage pane itself?

This was so simple in QMac 2007 I'm sure I'm just looking at it backward or something LOL!

Thanks!

Quicken_Tyka

Hello Dave,

Sorry, you haven't received a response. 

Try going to the loan account and selecting "Edit Loan and Payment Terms"



Then select Bill Reminder and choose the account in Quicken that will be making the mortgage payment.



Then choose "Detailed Reminder" then click save.

This will create a reminder that shows the payment details and reflect payment on the loan account.

In the image below, the highlight transaction is the reminder that has been created from the loan and payment terms page. 

Below is a standard reminder created from the checking account.



Let me know how it goes!

-Quicken Tyka

Quicken_Tyka

Hooray!

Thank you for taking the time to let us know that this corrected the problem. I also want to thank you for including the category issue that also came up and what the fix was as someone else may encounter the same problem and will hopefully be able to find the solution here on the community.

-Quicken Tyka

Quicken_Tyka

Hello Dave,

Sorry, you haven't received a response. 

Try going to the loan account and selecting "Edit Loan and Payment Terms"



Then select Bill Reminder and choose the account in Quicken that will be making the mortgage payment.



Then choose "Detailed Reminder" then click save.

This will create a reminder that shows the payment details and reflect payment on the loan account.

In the image below, the highlight transaction is the reminder that has been created from the loan and payment terms page. 

Below is a standard reminder created from the checking account.



Let me know how it goes!

-Quicken Tyka

Dave461

Tyka-

OMG thank you! That did it!

Actually there was one additional glitch, but a close reading of your reply fixed that as well. I set up the Detailed Reminder as you said. It seemed to work perfectly, except that it was crediting my Interest payment as Extra Principal on my Payment Schedule.

So I looked again closely at your reply and saw that your split sends Interest Payments to Loans:Loan Interest. I had set mine up to use the same category I had used for years in Quicken Mac 2007 i.e. Mortage Interest.

But just for grins, I changed the split in Loan and Payment Terms to send Interest to Loans:Loan Interest and that fixed it!

Even nicer is that Quicken recognized the matching downloaded transaction in my checking account and applied it to my Mortgage.

Thanks again so much!

Dave

Quicken_Tyka

Hooray!

Thank you for taking the time to let us know that this corrected the problem. I also want to thank you for including the category issue that also came up and what the fix was as someone else may encounter the same problem and will hopefully be able to find the solution here on the community.

-Quicken Tyka