HELOC shows paid off. Bank shows a balance.

I'm not exactly sure when this happened. I recently had a problem which in doing the repair & validate the program removed all connections to every single account. I have reconnected all and my HELOC is showing paid off with a balance still due. I tried reset account and moving it from personal to real estate and liability to credit. No change. I am unable to see any transactions. I only see the balance and the "this loan is paid off".

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    What is the Account Type as shown in Edit Account details, General tab?
    I'm guessing it somehow got changed to Loan and connected to your bank for transaction downloading.
    Recreate the account as an offline (manual, not connected for downloading) Account Type = Credit Card and do not attempt to connect it ever.
    Manually record your payment or withdrawal transactions as transfers from/to Checking. Also manually record any interest or other transactions from the bank appearing in the HELOC account.
    This may be a little more work but should give you the best results. Online connected Loan accounts do not have an account register and cannot be used as transfer-to destinations for your payments.

  • SailorBill
    SailorBill Member
    Thank you for the response. It's interesting however that I have been managing this HELOC using the downloaded transactions for over 10 years. The payment and interest have to be deleted and recorded correctly however it does give me the amounts so I don't have to go online to look.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    Please answer the question that @ukr asked in the 1st paragraph.  Without that info, there's not much that we can do to help you.

    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • UKR
    UKR SuperUser ✭✭✭✭✭
    As you said, you had to do some repair action on your data file. I suspect that the account type got messed up while reconnecting the HELOC for downloading. And you can't change account types of existing accounts to undo the problem. So, creating a new offline HELOC as Credit Card account seems to me the easiest way out of this situation.
  • SailorBill
    SailorBill Member
    Liability Personal
This discussion has been closed.