HOW DO YOU PAY OFF A LOAN MORE THAN 1 BILLING CYCLE AWAY?? [edited]
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TXShooter
Member ✭✭✭
How do you pay off a signature loan with a transfer more than 1 billing cycle away from today, AND make it show that it's paid off in the Projected Balances? Better yet, how do you just pay off a loan earlier than planned??
I tried making a transfer in the amount that would be due 6 weeks from now, taking into account the principal paid next month. I then tried to Update the Balance to zero the day following that transfer, and it still shows that I have 32 payments left. This is so frustrating!
How is it that an intuitive thing like Paying Off A Loan Early can be so illusive in a budgeting software??
FEATURE REQUEST: "Button: 'Pay Off This Loan Early' - Please enter the date and we'll show you an amount to pay by then." Seems simple enough.
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Best Answer
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Is there a Scheduled Reminder in effect for the remaining planned payment transactions?If you paid off the loan, you need to delete the Scheduled Reminder.(I mean, that's the way it works in Quicken for Windows. I'm not a Mac user ...)5
Answers
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Normally, to pay off a loan, we may open the loan account, press Ctrl + Shift + T, enter the remaining amount of the loan, set the date, the From account to payment account, the To account to the loan account, and select OK.
When we're planning to pay off a loan more than one billing cycle away, we need to enter the missing payment transactions in the registers for Quicken to recognize the loan will be paid off.0 -
Is there a Scheduled Reminder in effect for the remaining planned payment transactions?If you paid off the loan, you need to delete the Scheduled Reminder.(I mean, that's the way it works in Quicken for Windows. I'm not a Mac user ...)5
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