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Quicken Classic for Windows
Budgeting and Planning Tools (Windows)
spending tab amounts
74se440
I noticed on the spending tab, for loans with interest & principal split out, only the principal is shown as a spent amount. This is misleading as the total payment is the amount spent for that category. Depending on the terms of the loan this can be a significant difference. This is true on a mortgage loan, an RV loan and an auto loan. Do I have something hosed up in my report definition or somewhere else?
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74se440
Never mind. The interest is shown under a different category heading.
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74se440
Never mind. The interest is shown under a different category heading.
Sherlock
The interest portion of a loan payment should be classified as an expense. The principal portion of a loan payment should be a transfer from the payment account into the loan account and therefore is not usually considered income or expense.
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