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Mortgage amounts not correct in Net Worth report

fganter

It's 4/17/21. I added a home loan that started 1/19/21. The Net Worth report only shows the liability starting 4/17/21.

Word up?

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Tom Young

If you set up the loan as a connected, downloading loan then you have no access to the register. Everything having to do with the loan is pushed into the Account by the loan servicer. If that's the problem then either convert the loan to a manual loan, where you do have access to the loan register

https://community.quicken.com/discussion/7164936/faq-how-do-i-convert-a-loan-account-that-automatically-downloads-transactions-to-a-manual-entry-sc

or delete the loan and re-establish it as a manual loan.

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Tom Young

If you created the Account s of 4/17/21 using the Quicken loan wizard then that's the correct presentation. The wizard starts the Account with an open balance transaction that reflects the balance of the loan on the date of the Account's creation, it doesn't go back in time and make entries from origination date to the Account's creation date.

If you want to see the Account's balance before 4/17 then change that opening balance entry to reflect the 1/19 date and the 1/19 balance, then go into your checking Account and amend the payments between the opening date and the creation date to allocate the principal portions to the new loan Account. If those principal payments bring the loan balance back to the correct 4/17 balance you should be good to go.

fganter

Hmm... Entering loan origination date of 1/19/21 should be pretty straightforward for the software. Plus, it specifically asks the frequency and amount of each payment. So, the detail is right there.

Seems to me this is a bug or at least poor design.

Anyway...
I see no way to alter the opening balance date, as you suggest. Can you please provide instructions?

Thanks for your help @Tom Young

Tom Young

https://community.quicken.com/discussion/7164936/faq-how-do-i-convert-a-loan-account-that-automatically-downloads-transactions-to-a-manual-entry-sc

or delete the loan and re-establish it as a manual loan.

fganter

Thanks @Tom Young . I'm not interested in manually tracking the mortgage, so I'll have to find a different solution.

fganter

BTW - My fix was to create a temporary, manual liability to bridge the gap between 1/19/21 and 4/17/21. Certainly, not optimal, but better than having to manually track every month, which is what I did years ago, before Quicken updated it's on-line loan processing.