Home loan and how to show interest, escrow, etc

BrendaS.
BrendaS. Member ✭
in Registers & Transactions (Windows)
Home Loan-how to show interest, escrow, extra payments, etc

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  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    You need to:
    1) NOT enable the loan account for download.  Doing such will ONLY download the principal payments, and none of the other components.
    2) Use the LOAN WIZARD to set up your payments.  It will properly assign the Principal portion, Interest, Escrow, etc.
    For option 2, you'll also need to set up an Asset type Escrow account.
    The various split components of your payment will appear in your checking account transaction that makes the payment.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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