Edit Mortgage Payment - Principal and interest

quickgator

The monthly scheduled payment has a category for "Principal", but the category under "interest" is blank after it's set up. Under "Edit Payment" I cannot add a category therefore the interest expense does not show up in my reports. I can manually add it once I enter it from my calendar but what a pain. How do I add "Mortgage Interest" in the category line?

NotACPA

HOW did you set up this loan and the payments to it?

Also, what Q product are you running and what BUILD of that product?  Do HELP, About Quicken for this info.

quickgator

I clicked "Add an account" at bottom of my accounts list (it works the same under the tab "property and debt-add a loan"), "loan", "set up manual loan", named the loan and chose "mortgage" from the drop down menu, and entered all the pertinent data. I did a test and tried both options to record in register/bill payment and each time quicken leaves the interest category blank and unable to edit.

I have 2014 Deluxe Release R9 (23.1.93)

UKR

Theoretically, Quicken should have created a category, Mortgage:Interest or Loan:Interest, and used that during setup, when creating the Scheduled Reminder transaction for your monthly payments.
In my example, created years ago, it used Mortgage Int:Bank

Whatever similar Interest category that exists in your Category List will work. Or create a category.

When you've done that, go back into editing the scheduled reminder and fix the category.

BTW, I think you're missing one set of bug fix patches for your Q 2014 US.
Go to http://www.quicknperlwiz.com/quickenpatches.html and scroll down until you find Quicken 2014, Release 10 Mondo. Click to download, then install this file.

quickgator

I have the categories you have described. I did look back on other closed mortgages we have had-all have a interest category listed. So I clicked the closed mortgage "edit/delete account" and looked at the "account details. Every other mortgage we have had are listed as "loan type-loan". Under my current mortgage I have it listed as "loan type-mortgage". Will changing this from "mortgage" to "loan" change anything? I'd hate to have to delete the current account and start over. Thanks for your help!!

UKR

quickgator said:

...
Under my current mortgage I have it listed as "loan type-mortgage". Will changing this from "mortgage" to "loan" change anything? I'd hate to have to delete the current account and start over. Thanks for your help!!

Not sure about that. What's important is that you edit the scheduled reminder and set it to one of your Interest categories. That'll fix future payments.

Also edit each past register transaction in your checking account to point to the same Interest category.

Be sure that each of the reminders show the splits in the same order as my example shows. Quicken relies on the order of the split lines to make correct calculations.

quickgator

Roger that. Thank you very much!!