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Mortgage payments/amortization (using Q Mac)

Corn Dog

I just migrated to Mac from Windows. Quicken promised it would be seamless. Total lie!!!! Now when I make monthly mortgage payments there is no way to split interest/principal/escrow like I did in windows!!!! Big step BACKWARDS!!!
They say no way to do it with MAC!!!!!
Total fail for me . Never trust these liars!!!!

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Comments

jacobs

First, I don't know who promised you a Windows to Mac migration would be seamless. It is for some people, but it requires some tweaking to get things set up properly for others.

Second, you absolutely can split interest, principal and escrow in making mortgage payments in Quicken Mac. If you have your mortgage as a basic liability account and you're making payments from your checking account, it's quite simple to have the transaction with three split lines: one to interest expense, one a transfer to the mortgage liability account, and one a transfer to an escrow asset account. If you set up the account as a Loan, then Quicken will create the splits for you.

Here's a sample mortgage I created. Here's the Loan Details screen for my loan. Notice on the right, I've specified a transfer to an escrow account I named Escrow:

Image: https://us.v-cdn.net/6031128/uploads/editor/2e/tg01ah4f96a0.png

When I advance to the Bill Reminder screen, and specify that I want to track the split, it shows this:

Image: https://us.v-cdn.net/6031128/uploads/editor/si/gzzv2atb1ic9.png

And here's what the transaction will look like in my checking account:

Image: https://us.v-cdn.net/6031128/uploads/editor/md/8t6p1iak1t6g.png

Problem solved?

garysmith87

That's a funny post. Because I migrated from Quicken Windows to Quicken Mac...and Quicken Mac splits my mortgage payment with the correct splits just fine as long as you have it set up as a manual account (no downloads).

If its a manual account, go to the loan account register. Click on the "hamburger" three lines in the upper left next to Edit Loan and Payment Terms. This will allow you to create whatever splits you'd like, which accounts/categories you want to assign. Then click on BILL REMINDER and select Detailed Reminder.

This seems to work just fine.

UKR

What feature level of Quicken for Windows did you migrate from? Starter Edition, Deluxe, Premier, Home & Business?

What feature level of Quicken for Mac did you migrate to? Starter, Deluxe, Premier?

https://www.quicken.com/mac/compare