spending tab amounts

74se440
74se440 Quicken Windows Subscription Member ✭✭
in Budgeting and Planning Tools (Windows)
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?

Best Answer

  • 74se440
    74se440 Quicken Windows Subscription Member ✭✭
    Answer ✓
    Never mind. The interest is shown under a different category heading.

Answers

  • 74se440
    74se440 Quicken Windows Subscription Member ✭✭
    Answer ✓
    Never mind. The interest is shown under a different category heading.
  • Sherlock
    Sherlock Quicken Windows Subscription Member ✭✭✭✭
    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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