Loan transaction editing

Patrick Curran

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.

Frankx

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 

Gerald Nielsen

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

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

Cableguy56

I have the same issue where a mysterious adjust was made on my mortgage. I need to go in and edit the account but there does not seem to be a way to do that. This is a manual loan account.

Frankx

Hi @Cableguy56

Can you give us some more information?  Have you identified a specific new transaction, or an existing transaction, that has been altered by Quicken?

What you actually need to do is to "edit a transaction" - not "edit the account".  First you'll need to click on the "Payment details" button at the top.  Next you should click on the incorrect transaction and make the entry/entries to correct the transaction.

Let me know if you have any followups.

Frankx

wallerha

i have the same issue - manual loan account. was making monthly payments and suddenly a "payment adjustment" appeared with no link to any transaction so it can be removed or i have yet to find out how to remove it. all the previous payment details in the account are grayed out so again - no way to edit this.

wallerha

additional info - the payment adjustment was the exact amount to put my outstanding mortgage balance back UP to the original opening loan amount. very strange.

CrunchTheNumbers

I have a loan account that is connected to the mortgage bank via EWC+. I made an extra principal payment last month (100% principal), followed by my most recent, regular mortgage payment.

Now, Q's calculated remaining balance doesn't agree with the outstanding principal on my most recent monthly statement.

If I run an EasyAnswer, "How much did I spend on...?" report for this year, filtered for Principal & Interest, it ties to what is shown for the cumulative totals for P&I on my most recent statement.

When I look at the Quicken Loan Account's View Payment Schedule, I see numerous "Adj" rows. The combination of those rows appears to be introducing an erroneous ending balance. How do I get rid of those adjustments so that I tie to the mortgage statement?

IIRC, the loan account used to just be a ledger that captured the principal payments. It worked perfectly. Why did they change it?

Quicken Jared

CrunchTheNumbers said:

I have a loan account that is connected to the mortgage bank via EWC+. I made an extra principal payment last month (100% principal), followed by my most recent, regular mortgage payment.

Now, Q's calculated remaining balance doesn't agree with the outstanding principal on my most recent monthly statement.

If I run an EasyAnswer, "How much did I spend on...?" report for this year, filtered for Principal & Interest, it ties to what is shown for the cumulative totals for P&I on my most recent statement.

When I look at the Quicken Loan Account's View Payment Schedule, I see numerous "Adj" rows. The combination of those rows appears to be introducing an erroneous ending balance. How do I get rid of those adjustments so that I tie to the mortgage statement?

IIRC, the loan account used to just be a ledger that captured the principal payments. It worked perfectly. Why did they change it?

Hello @CrunchTheNumbers,         

Thank you for taking the time to visit the Community, however, since this is an older post that was originally created back in March, it is less likely to receive an answer now.

I would suggest creating a new post for better visibility and to potentially receive responses from other users who may currently be experiencing the same problem. Doing so will also assist us with better tracking ability in the event that this issue may result in an escalation being required.

I hope this is helpful!

Thank you,

Quicken Jared