Detailed Loan Payments Do Not Show on Budget Reports

My mortgage payment which is shown as a "Detailed Loan Payment" on the Planning>Budget tool does not flow through to any Reports. I realize these are not categorized as Income or Expenses on reports and you have to select the "Include All Transfers" drop down on the Advanced tab of reports, but that still does not fix the issue.

Thus, I have a massive hole in my budget which makes the reports useless. Is there a solution for this I'm not aware of?

Thanks!

Best Answer

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Answer ✓
    Per these instructions, to get detailed loan/mortgage expense budgeting and reporting,
    deselect the mortgage account from the Detailed Loan Payments category.
    Next, under Personal Expenses select the Loan Interest category (as used in the Split detail of the monthly payment transaction.)
    If the loan account is enabled for downloading also select the category used for recording Principal and Additional Principal payments
    If the loan account is offline, not enabled for downloading, select the Transfers Out group, then select Transfer TO [loan account name]
    Optional, if you make escrow payments, select the Transfers Out / Transfer TO [escrow account name] to track those amounts.
    Now, with the detailed categories selected and the "detailed loan payments" selection removed, both budget views and reports should show the detail you want.

Answers

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    From what I can gather "Detailed Loan Payments" is like the "Paychecks" in the budget view "categories".
    Both of these are line/entry for the "net amount".

    Well there are several inconsistencies between the "views" and the "reports".  Some of them are reminders aren't included in the reports, and also neither of these "net amounts" are included either.

    The only way you can make the reports correct is by changing the way you select categories in your budget, changing from the "net amounts" to tracking all the detail categories.
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  • Kevin Russell
    Kevin Russell Member ✭✭✭
    Well, I'm actually tracking all of the detail categories in my total mortgage payment. Illustrative example: my total mortgage payment is $1,000 in the Planning>Budget view under "Detailed Loan Payments" but my Loan Reminder has that $1,000 broken down into principal, interest, and escrow. However, maybe it's really not since if I add those breakout line items to the Planning view then I'm just duplicating my mortgage expenses in the Planning view by having both the Detailed Loan Payment line item plus the individual breakout line items.

    Paychecks work just fine and we show gross amount minus each line item deduction from paycheck to get to the. IOW, we are tracking all detailed categories for those.

    Massively confusing. I've had to start keeping a budget in Excel outside of Quicken just so I can see full picture which defeats the purpose of the Budget feature in Quicken.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Answer ✓
    Per these instructions, to get detailed loan/mortgage expense budgeting and reporting,
    deselect the mortgage account from the Detailed Loan Payments category.
    Next, under Personal Expenses select the Loan Interest category (as used in the Split detail of the monthly payment transaction.)
    If the loan account is enabled for downloading also select the category used for recording Principal and Additional Principal payments
    If the loan account is offline, not enabled for downloading, select the Transfers Out group, then select Transfer TO [loan account name]
    Optional, if you make escrow payments, select the Transfers Out / Transfer TO [escrow account name] to track those amounts.
    Now, with the detailed categories selected and the "detailed loan payments" selection removed, both budget views and reports should show the detail you want.
  • Kevin Russell
    Kevin Russell Member ✭✭✭
    UKR,
    THANK YOU! That solved it. Although, I did not have to use the Transfers Out / In step. I may find that to be an issue after our mortgage pmt hits next week. Will monitor.
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