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My loan payment schedules are off by one month

I use the Quicken Deluxe 2020 for Mac (Version 5.16.1 (Build 516.33903.100)). I have two loans, a mortgage and a car loan, and both payment schedules are off by one month. The next payment on both loans shows that the balance after the payment will be the same as the current balance. And the final payment on the schedules are doubled to pay off the balance that is overstated by one month's principal at the end of each loan
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  • Quicken_Natalie
    Quicken_Natalie Moderator mod
    Hello @Ted Lueken,

    Thank you for taking the time to visit the Community and share your issue, although I'm sorry to hear that you're experiencing difficulties with your loan accounts in Quicken.

    To fully understand the issue, do you automatically download transactions from your financial institution for the accounts in question, or do you track them manually in Quicken?

    To begin troubleshooting this, would you mind first taking a look at the Loan Terms for both problem accounts, just to confirm that all information is entered correctly? 

    If that does not highlight any possible culprits, I'd suggest next creating a new loan account for at least one of the loans, to determine how the new "test" account behaves. You will want to be sure to fill in your Loan Terms on the new account, as well.
     
    Please see this Support Article for more details regarding Loan Management in Quicken for Mac.

    Let us know how it goes!

    -Quicken Natalie

     
  • Ted Lueken
    Ted Lueken Member ✭✭
    Hi Natalie,

    I do download transactions automatically for both loans.

    I verified that the terms are correct on both of my existing loans.

    I tried setting up a duplicate of my car loan, and exactly the same problem occurred: the next payment on the new loan schedule shows that the balance after that payment will be the same as the current balance before the payment, and the final payment on the schedule is doubled to pay off the balance at the end of the loan.

    Thanks for the help.
  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    edited June 2020
    Hello @Ted Lueken

    Thank you for the response, although I am sorry to hear that the trouble continues to persist.

    At this time I would recommend contacting support directly for advanced troubleshooting steps.

    https://www.quicken.com/support#contact-support

    Quicken Care has the ability to initiate a screen share to view the issue in real-time to review and research this further.

    Thank you,

    -Quicken Tyka

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