Loan Account closed itself

Quicken Premier, Windows 10 Home, Ver. R34.24, Build 27.1.34.24.
I have a loan account that closed itself. When I do a search for transactions on the account . There is a balance adjustment entry for the entire balance that I did not enter. When I choose the loan from the account, I cannot see the transaction register for this one loan. If I click on the balance adjustment using the search function, the screen goes blank and I'm unable to see the entry. This is only occurring for this loan.

Best Answer

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Answer ✓
    Hi @ryanholt,

    When you setup this loan account in Quicken - did you set it up as one that downloads and updates transactions automatically, or as a "manual" loan (where you do the allocation between principal and interest for the payments made)?  I suspect that you set it up as an automatic download type.  The problem with such loans is that you have virtually no control over the transactions and there is no transaction register that could be used to make corrections or adjustments.

    The solution is to convert the loan to a "manual" loan where you'll have the ability to control the entries and make adjustments as needed.  Here's a LINK to a Quicken FAQ that provides the step-by-step instructions on how to convert the loan.

    Let me know how that goes and/or if you have any followup questions.

    Frankx 


                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Answer ✓
    Hi @ryanholt,

    When you setup this loan account in Quicken - did you set it up as one that downloads and updates transactions automatically, or as a "manual" loan (where you do the allocation between principal and interest for the payments made)?  I suspect that you set it up as an automatic download type.  The problem with such loans is that you have virtually no control over the transactions and there is no transaction register that could be used to make corrections or adjustments.

    The solution is to convert the loan to a "manual" loan where you'll have the ability to control the entries and make adjustments as needed.  Here's a LINK to a Quicken FAQ that provides the step-by-step instructions on how to convert the loan.

    Let me know how that goes and/or if you have any followup questions.

    Frankx 


                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • ryanholt
    ryanholt Member
    Thank you sir. I am going to give that a try.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    Could it be that your original lender sold your loan to another bank ... and thus it's "closed" on their books ... and that's what they downloaded?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP