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how do I set up an account for a mortgage where I am the lender?

When I set up a new account, it shows the mortgage as my liability when it should be an asset

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Quicken for Windows:

    How to create a Lender loan (Money I lend someone)

    • From the Menu bar in Quicken click Help / Quicken Help or press the F1 key from anywhere in Quicken
    • Search Quicken Help for keyword "lender loan"
    • Step by step directions are listed.

    Or read https://www.quicken.com/support/set-loan-which-you-are-lender

    Quicken for Mac hasn't learned how to do that yet. Create an Other Asset account and manually track both the initial loan payment and the repayment transactions as transfers to / from your checking or cash account.
  • Michael E
    Michael E Member ✭✭
    Thank you. Did that, but now it's a problem setting up the monthly reminder with the principal/interest breakdown [note: I have 2 other such accounts that I set up many years ago that do break it down].
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Michael E said:
    Thank you. Did that, but now it's a problem setting up the monthly reminder with the principal/interest breakdown [note: I have 2 other such accounts that I set up many years ago that do break it down].

    Quicken for Windows or Mac?
  • Michael E
    Michael E Member ✭✭
    Windows
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