Recording loan and showing up as spending?

FAM
FAM Quicken Canada Subscription Member ✭✭
in Business and Rental Property Tools (Windows)
I purchased a condo for cash. Subsequently I refinanced and the loan proceeds were deposited into my checking account. When I categorized the proceeds in the checking account to the loan set up, the loan amount appropriately increased in amount by the proceeds. However for some reason it shows up in my Spending tab as a negative amount. So when I try to view the spending by categories I have this big negative resulting from the loan proceeds. Very frustrating. Any ideas how to fix?
Tagged:

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    What did you refinance, if you originally paid cash?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • FAM
    FAM Quicken Canada Subscription Member ✭✭
    Had no debt on property and took out all the equity up to the allowed LTV. Used proceeds to invest in other assets
This discussion has been closed.

Categories