Seeing a math error when a mortgage payment is made

David in DC
David in DC Member ✭✭
There seems to be a recurring math error on projected balances screen when my mortgage payment is deducted. Rather than remove 4077.63 it is deducting 8620.88 causing a huge issue with my projected balance. It shows the correct amount for the mortgage deduction but the wrong math.

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Might you be seeing both a downloaded register transaction and an, as yet unrecorded, Scheduled Reminder due on the same date?
    Can you show us the register transactions for the payment and the projected balances view (both graph and the list of transactions for that date)?

    Can you please capture one or more images of the parts of your Quicken window showing the issue, sensitive information blacked out as necessary to protect your privacy but annotated to describe the situation, and attach the image(s) here?
    https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows

    https://community.quicken.com/discussion/7663259/faq-how-do-i-post-a-screenshot-in-the-community-from-a-mac

    Please save images to files of file type PNG, JPG, or GIF only. They're easier to work with than PDF files.

  • David in DC
    David in DC Member ✭✭
    I am trying to post my screenshots but the text box that I am typing this message into does not have any of the editing tools mentioned in the (windows) link above, just an emoji dropdown.

    This is a new issue as of today. I am in Quicken everyday and monitor the projected balances all the time.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    I am trying to post my screenshots but the text box that I am typing this message into does not have any of the editing tools mentioned in the (windows) link above, just an emoji dropdown.

    This is a new issue as of today. I am in Quicken everyday and monitor the projected balances all the time.

    In that case, drag and drop the image file(s) into the Leave a Comment box.
  • David in DC
    David in DC Member ✭✭
    Images are attached.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited November 2021
    Please provide an image of the reminder.  Quicken is known to have Projected Balances issues handling reminders that contain transfers.
  • David in DC
    David in DC Member ✭✭
    It is a mortgage payment split that was created by Quicken when I setup the loan back in March. And it has been fine up until now.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited November 2021
    It is a mortgage payment split that was created by Quicken when I setup the loan back in March. And it has been fine up until now.
    It appears your loan reminder split has been modified.  The 3rd entry should be maintained to hold extra principal.  I suggest allowing Quicken to recreate the loan reminder.  One way to do this is to toggle the payment to a memorized payee and back to a reminder: open the loan account, select edit below MONTHLY PAYMENT, Payment Options..., choose Memorized Payee, select OK, choose Loan Reminder, and select Done.  You should then be able to select edit below MONTHLY PAYMENT and use the wizard to reset the extra principal amount and escrow appropriately.

    If the Projected Balances issue persists, I suggest you report the issue to Quicken: select Help > Report a problem...

     
  • David in DC
    David in DC Member ✭✭
    Thank you for your help. There is definitely an error going on with mortgage calculations. I did a few tests and set up a test mortgage and it it is all wrong. I will report the issue.
  • billgregoryjr
    billgregoryjr Member ✭✭
    edited November 2021
    Is this what you're seeing with Projected Balances? If this is the same issue, I reported this issue today as well since now my projected balances are off and forecasting cash flow is no longer accurate

    EDIT: I was able to resolve this by deleting the mortgage account, then readding the Loan back in.
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