Line of credit (home equity) not reflecting correctly acting like mortgage

I recently created a new Quicken file and imported all bank accounts through online import sync. For some reason my home equity line of credit is acting like a fixed rate loan/mortgage. In my prior file, this acct was treated like a credit card account, which allowed me to transfer funds and make payments as needed. I've attempted to create it manually but it will not sync up normally. When I divert back to setting up through bank download, it returns to a loan. I'm clearly missing something here and need to get it corrected. What am I missing?

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    LOC/HELOC accounts should be defined as if they were credit card accounts.
    For best results I recommend you define them as offline credit card accounts, not connected to the bank for downloading and manually record all transfer in/out and interest charge transactions.
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