Adjusting principal and interest values in mortgage account
ftessler
Member ✭✭
I set up a mortgage account for a new home loan. Payments to my FI are automatically deducted from my checking account each month. I want to match those with register entries from the mortgage account so I don't have to enter the principal, interest, and escrow values every time. But after plugging in all the loan details, the principal and interest for the first payment were off by a few dollars, though the total payment was correct. Any idea why this might be happening and how to correct it? The P and I numbers are not editable. Thanks.
0
Best Answer

You should be able to go into your Checking Account and find the payment to your FI. You can then alter the Splits to adjust the P&I to their correct amounts. Once you correct all your past payments with the correct P&I, the future ones should calculate correctly.
 Merg5
Answers

You should be able to go into your Checking Account and find the payment to your FI. You can then alter the Splits to adjust the P&I to their correct amounts. Once you correct all your past payments with the correct P&I, the future ones should calculate correctly.
 Merg5 
There was only one payment so far, which I had entered manually in my checking account and distributed to appropriate categories (P, I, escrow). I added transfers to the mortgage account, so hopefully all the numbers will be correct for the next payment. I have to say, though, this was more straightforward when I used to do it for a previous loan using a much older version of Quicken. Thanks!0
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