Mortgage account not calculating remaining balance properly

mkruger21

I have set up a mortgage account, it calculates my total payment correctly, shows the proper P & I, but the running balance decreases by the total payment amount, instead of the principal only. Has anyone else seen this? I complained to Intuit a year ago with no response, and I see that a similar discussion was closed on this topic with no resolution. I really like the payoff forecasting that this newer feature does, but is fairly useless because of this issue. Any help?

jacobs

What is the transaction that is actually recorded? It sounds like maybe the split is messed up, with what should be the interest expense being instead credited to the loan liability account.

mkruger21

That's definitely part of it...so I tried setting up a new account, unconnected. I will keep plugging away at it but thanks for pointing out something very basic... Will it auto-generate the next interest amount on my next due date? The way I set it up a year ago, It seemed like it was up to me to set up the transactions. I suppose I'll learn something on the 1st.