How do you record a loan payoff against an existing mortgage?

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lbkovar
lbkovar Member ✭
in Registers & Transactions (Windows)
I have an existing mortgage account attached to an asset. We sold the property and the original loan has now been paid off. There is no option that I can see in the loan register to record the payoff. How would I go about getting the transaction entered before I close the account?
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  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    You'd record a transfer of funds received into the Loan account to take it's balance to $0.
    There is no "Payoff" function per se.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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