Transferring loan to Quicken Bill Manager

I have an existing loan set up in Quicken where the loan table manages the interest/principle calculation on Bill minder entered the payment under to old system. I am trying to transfer that to the new Quicken Bill Manager. It is an online Quick Pay. I know how to set up the vendor and have it pull down the total payment amount, that is straightforward. What I want to know is how to link it to the loan table so it calculates/manages the interest versus principle and correctly maintains the loan principle amount outstanding. I tried chat support but when I kept asking for an actual answer "Agent has left the conversation".
p.s. I find it very unprofessional that Quicken Chat does not allow yo to receive an email transcript of the chat session

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    To avoid any issues with Online Bill Pay I have set up practically all of my recurring bill payments to use the Automatic Debit process provided by the biller. Contact the biller or use their website to set up the process to auto-pay the bill on due date and debit it from your checking account (or a credit card account where possible).
    In the case of a mortgage payment, keep the scheduled reminder in Quicken because it already has the correct principal / interest / additional principal and escrow splits. Just run it as a normal transaction, not an online bill pay transaction.
  • Michael Rosen
    Michael Rosen Member ✭✭✭
    I have this issue as well. Maybe I'll do as you suggest.

    Thanks.
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