How do I post a payment to my loan account

I have a loan account with Navy Federal CU. The account shows in my account list; however, I am not able to post any transactions to it in the register window and the account does not show in my "Available Transfers/Accounts" pull down list

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  • UKR
    UKR SuperUser ✭✭✭✭✭

    For whatever it's worth ... I would not bother attempting to activate any loan or mortgage account for downloading.  (Not discussing LOC or HELOC accounts here)

    An online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.

    As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead.

    • Effective with Quicken Windows 2018+
      you can deactivate an online-connected loan account and regain full control over your transaction register.  However, you should still review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not a Category.

  • Charles Jones
    Charles Jones Member ✭✭
    So, I read both responses - the first response indicates there is some documentation missing in the QW2020 release to alert users what happens when they set up downloads for new debts or loans.

    Unfortunately, the workaround offered in the second response is not effective because the subject "loan setup with download" does not show up as an available account with which to interact in the "Find/Replace" steps of the response instructions.

    So, for the automatic payments that come out of my account to service the loan, I presume the "category" to use is just generic "loan payment" since a transfer to the actual loan account is not possible.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    If your loan account currently is set up for transaction download, deactivate it.
    Now you should be able to change the loan payment reminder created by the loan setup process to transfer the amounts of principal (and optional additional principal) to [loan account name], similar to this example:
    The loan reminder should be executed a couple of days before Due Date, to ensure that a register transaction exists in your checking account with these splits. When you download transactions into your checking account, the downloaded payment transaction should be matched to this existing register transaction and not create any duplicates or other problems.
    And because you now transfer Principal (in Quicken) to the [loan account name], its balance should be correctly reduced with every payment.
  • Charles Jones
    Charles Jones Member ✭✭
    The response, again, is ineffective. Something must have gone wrong when the loan account was created in quicken to begin with.

    I did deactivate it from download, but it is still not showing as an available account. No payment reminder nor actual transfer can be accomplished as the loan account is not present in the list. (But it shows up in the master account list and is not a hidden account.)

    Will try to delete the problem loan account completely and start over- manual loan, no download.
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