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Loan transaction editing

My mortgage is showing as paid in full after a mysterious adjustment was made in the loan register and I can't fix it by editing transactions. Is there any remedy or do I have to blow it up and recreate the loan account? The bank does not offer Quicken updating so everything has to be manually added.

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @Patrick Curran,

    I just want to make sure I understand the status of the mortgage loan account in Quicken.  Since you say that the bank holding the mortgage loan doesn't offer downloads - that means that all entries that have been made in the mortgage account so far, are manual entries - correct?

    If it is a manual account, I would think that it should be able to be fixed.  Can you tell me more about this "mysterious adjustment"?  If it is a manual account (not connected or downloading) how did the mysterious adjustment get entered in the account?  For how long has the account been used in Quicken, and is this the first time things have become out of balance?

    Get back to me and we'll go from thete.

    Frankx 


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  • Gerald Nielsen
    Gerald Nielsen Member ✭✭
    I have a very similar experience. I noticed my balance due on an auto loan showed an unusual balance adjustment. This is a manual account I entered into Quicken 7-24-20. The Loan Schedule in Quicken shows payments to principle credited for August and Sept. Than I entered a balance adjustment on 10-3-20 to reflect a Dealer refund on a Warranty charge I decided not to purchase. The charge for this warranty was in the original loan amount. Than there are principle payments shown for payments made October, November, December and January. Than the Loan Schedule page shows a balance Adjustment of $20336.23 on 1-22-21 which left a balance due of 1360.07. I don't know where this Balance Adjustment came from. I have no entry in any of my accounts showing a payment of this amount on the loan. Find search in Quicken for the amount adjusted shows the adjustment date 2-10-21 from account "Stinger GT2 Auto Loan" (which is the loan I entered into Quicken on 7-24-20) Payee shows "Balance Adjustment" and Category shows a transfer to the "Stinger GT2 Auto Loan" I have not found a way to delete this balance adjustment form my Loan Schedule. Can you help with this?
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @Gerald Nielsen

    So I believe you are saying that 2 "balance adjustments" have appeared in this manual loan account - one dated 1/22/21  and another dated 2/10/21 - is that correct?

    What happens in Quicken when you try to delete the adjustment transaction?  Do you get an error code or a warning, or anything?

    You also indicated that this is a manual loan, however are there any other accounts in your Quicken file with the same financial institution that issued this loan?  And if so, do you download transactions for any of those other accounts?

    Frankx



    Quicken H&B-Subscription - Ver. R29.20 - Build 27.1.29.20  - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
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