Adding a 63 month auto loan

Tony Dalia

I tried 5.25 years but it wouldn't take the decimal? Also not sure how to record the down payment properly. Note* This is a link loan in my Chase account. Thank you

UKR

If you haven't rebooted Windows since you installed the latest software update, please do so now and then try Quicken again.

Still not working?

Let's do some "Troubleshooting 101" to ensure the Quicken software is installed and updated properly and that your data file is in good working order.
Please perform all the steps in this document in the order specified:
Troubleshooting 101 - Fixing Software Installation and Data File Problems

As far as the loan account register is concerned ...

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. The category seems to vary with the Loan Type you selected when creating the loan account in Quicken.

• 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.
• Users of Quicken 2017 and older:
  If you want to have full control over both the loan account register and the payment transactions you need to set up your loan account as a "manual loan account" and use the Scheduled Reminder created by the setup process to record your payment transaction on or before the due date.
  If you have already established a connected loan account and are having problems with it please take a look at this:
  How to convert back to a manual loan
  https://community.quicken.com/discussion/7164936/faq-how-do-i-convert-a-loan-account-that-automatically-downloads-transactions-to-a-manual-entry-sc

Frankx

Hi @Tony Dalia,

In the setup routine in Quicken, when you go to the "Loan Details" page, you should have been able to select "Months" for the "Original Length" field - see attached


Frankx

Frankx

Oh, and the down payment just gets posted to the "asset" account - Automobile.

Assume a total cost of the vehicle is $20,000 a down payment of $8,000. and a loan of $12,000.   - the entry would be:

Automobile                     20,000.00
Loan Payable                                              12,000.00
Checking Account (down payment)           8,000.00

Frankx

Tony Dalia

Thank you but now when I try to access the loan it closes Quicken. I will try again tomorrow

Frankx

@Tony Dalia,

That should not happen.  Have you noticed this behavior before? If so, how long has this been going on?

Which versions and builds of both Quicken and Windows are you running?

Frankx

Tony Dalia

Started after I updated loan details this morning. Quicken 27.1.28.10 Windows 10 v2004 build 19041.388

Frankx

Okay, I would suggest that you reopen Quicken and retry to access the loan.  If you get the same result - i.e. if Quicken closes, I would suggest that you either:

a) try to troubleshoot the file using the instructions located at this LINK, or
b) contact Quicken Support via this LINK

Let me know how this goes.

Frankx

UKR

If you haven't rebooted Windows since you installed the latest software update, please do so now and then try Quicken again.

Still not working?

Let's do some "Troubleshooting 101" to ensure the Quicken software is installed and updated properly and that your data file is in good working order.
Please perform all the steps in this document in the order specified:
Troubleshooting 101 - Fixing Software Installation and Data File Problems

As far as the loan account register is concerned ...

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. The category seems to vary with the Loan Type you selected when creating the loan account in Quicken.

• 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.
• Users of Quicken 2017 and older:
  If you want to have full control over both the loan account register and the payment transactions you need to set up your loan account as a "manual loan account" and use the Scheduled Reminder created by the setup process to record your payment transaction on or before the due date.
  If you have already established a connected loan account and are having problems with it please take a look at this:
  How to convert back to a manual loan
  https://community.quicken.com/discussion/7164936/faq-how-do-i-convert-a-loan-account-that-automatically-downloads-transactions-to-a-manual-entry-sc

Tony Dalia

OK validate just closed the program, but supervalidate found a date discrepancy in the file and now it works fine! Thank you!

Tony Dalia

Just a follow up, now my default file is called QDATACpy. Is this a problem? Should I somehow change it to QDATA?

UKR

Tony Dalia said:

Just a follow up, now my default file is called QDATACpy. Is this a problem? Should I somehow change it to QDATA?

That's not a problem, but you can change it back easily.

With Quicken closed please do this:
Using Windows File Explorer rename QDATA.QDF to, e.g., QDATAold.QDF
and rename QDATACpy.QDF to QDATA.QDF
Now double-click QDATA.QDF to start Quicken and make it use this file from now on.