Can future loan payments use amortization schedule?

twr102947

After setting up a mortgage loan account, all details are correct, and the payment schedule matches the lenders amortization schedule. The next future payment shows the correct amount allocated to principal and interest categories. However, all future payments use the same principal amount instead of increasing each month as indicated by the payment schedule.

Is there some way to use the payment schedule to set up future payment reminders? Otherwise I have to manually change the principal amount after the payment is made, and I can't use the payment schedule to get the correct amount because it disappears once the payment is posted.

I am pretty sure this functionality was present in Mac Quicken 2007, and a recall that it even worked (with some bugs) in Mac Quicken 2018, but I noticed a few months ago that the loan balance was off.

Quicken_Tyka

Hello @twr102947

Thank you for taking the time to visit the Community to post your issue, although I apologize that you haven't received a response.

When looking at the scheduled transaction, they all appear to be the same while scheduled, however marking the transaction as paid will display the correct split for the principle and amount.

Below, I have marked several of the scheduled transactions as "Paid" to display the change in principal and interest. 



At this time there isn't a setting or preference to show the split while scheduled.

I hope this clarifies!

-Quicken Tyka

Quicken_Tyka

Hello @twr102947

Thank you for taking the time to visit the Community to post your issue, although I apologize that you haven't received a response.

When looking at the scheduled transaction, they all appear to be the same while scheduled, however marking the transaction as paid will display the correct split for the principle and amount.

Below, I have marked several of the scheduled transactions as "Paid" to display the change in principal and interest. 



At this time there isn't a setting or preference to show the split while scheduled.

I hope this clarifies!

-Quicken Tyka

twr102947

Thanks for your response. I will keep an eye on this over the next couple of payments to see if the correct principal and interest are applied after marking the transactions as Paid.