I am loaning money to a family member. How do I set up a loan that is not a debt?

wanderingwillow22

:/

volvogirl

Put "Lender Loan" in the Quicken search box in the program.

See if my old notes still work

A lending loan is a loan for which you are the lender and someone is paying you back on an amortized schedule. A lending loan is treated as an asset in Quicken that has a positive balance.

Add an Asset Account , where value of the asset is the amount you are lending. 

In the final window of account setup, when you are asked Is there a Loan on this asset?, select No. 

Open the account you just created, then click the Account Actions icon (the gear icon  on the top of the register), and then choose Convert to a Lending Loan Account. 

In the Convert this Asset to a lending loan dialog, click Convert,

Quicken creates an asset account with a payoff schedule. The account is identical to a "normal" loan account in Quicken. The only difference being the sign of the lending loan and its payments are opposite that of a "normal" loan. 

volvogirl

Put "Lender Loan" in the Quicken search box in the program.

See if my old notes still work

A lending loan is a loan for which you are the lender and someone is paying you back on an amortized schedule. A lending loan is treated as an asset in Quicken that has a positive balance.

Add an Asset Account , where value of the asset is the amount you are lending. 

In the final window of account setup, when you are asked Is there a Loan on this asset?, select No. 

Open the account you just created, then click the Account Actions icon (the gear icon  on the top of the register), and then choose Convert to a Lending Loan Account. 

In the Convert this Asset to a lending loan dialog, click Convert,

Quicken creates an asset account with a payoff schedule. The account is identical to a "normal" loan account in Quicken. The only difference being the sign of the lending loan and its payments are opposite that of a "normal" loan. 

wanderingwillow22

:) Thank You, that worked now I just have to see how the payments go in. The money will be deposited into on of my accounts. How do I apply it to the loan?

NotACPA

In that deposit, show it as a Transfer from the Lender Loan account.

This account is an ASSET, not a debt as you already know.  So, you're simply moving money from one asset (the loan) to another asset (your bank account).