My home loan account is downloading as a + amount (asset) instead of - (liability)

I have my mortgage account (Trustco) on direct connect (sorry if my terminology is wrong - new user) and it downloads my loan balance as a positive amount, which then causes the amount to skew as an asset. How can I update this (or at least change the sign)? Thank you!

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited April 2
    Please do TOOLS, Account List and click EDIT adjacent to this account.
    What shows next to the "Account Type" label?
    Also, back at that TOOLS, Account List page, what shows in the "Transaction Download" column across from the account? Because I'm not showing that Trustco Bank supports Direct Connect.
    TrustCo Bank    https://www.trustcobank.com/    NA    https://trustco.onlinebank.com/SignIn.aspx    ACTIVE         BANKING&WEB-CONNECT         BANKING,ACCOUNTINFO&EXP-WEB-CONNECT

    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Wendy S
    Wendy S Member ✭✭
    The account type label is shown correctly as a loan and the transaction download column shows a yes and express web connect. I think the data provided by Trustco may not be in the correct format? (I.e. the account balance gets downloaded as a positive amount vs a negative amount). If I try to separately set up the account as a mortgage account (not as part of just downloading all accounts with that bank), Quicken does not recognize it as a mortgage account, maybe due to the format issue above?
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    I suggest you use an offline loan account.  If you haven't already, you may want to review: FAQ: How do I convert a loan account that automatically downloads transactions, to a manual entry/sc
  • Wendy S
    Wendy S Member ✭✭
    > @Sherlock said:
    > I suggest you use an offline loan account.  If you haven't already, you may want to review: FAQ: How do I convert a loan account that automatically downloads transactions, to a manual entry/sc

    Thank you. I was hoping to avoid that, but am thinking you are correct.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    @Wendy S  OK, you're using Express Web Connect, not Direct Connect.  EWC frequently uses "Screen scraping" to collect the data from the website, so it's possible that Q/Intuit is scraping incorrectly.
    You might try contacting Q Support to see if they can help.  See this website, and scroll down to the "Contact Support" area: https://www.quicken.com/support#windows
    But, I'd also endorse @Sherlock's suggestion of switching to a manual account.  Q's mortgage wizard is VERY accurate, and returns to you control of your mortgage account register ... which I believe you currently can't even see.

    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Wendy S
    Wendy S Member ✭✭
    > @NotACPA said:
    > @Wendy S  OK, you're using Express Web Connect, not Direct Connect.  EWC frequently uses "Screen scraping" to collect the data from the website, so it's possible that Q/Intuit is scraping incorrectly.You might try contacting Q Support to see if they can help.  See this website, and scroll down to the "Contact Support" area: https://www.quicken.com/support#windowsBut, I'd also endorse @Sherlock's suggestion of switching to a manual account.  Q's mortgage wizard is VERY accurate, and returns to you control of your mortgage account register ... which I believe you currently can't even see.

    Thanks for the explanation - very helpful! Also good to know that Q’s mortgage wizard is accurate - it will make the time digging out out all the info worth it. I’ll also contact support just to see what they can do. Appreciate your time!
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