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Errors After Adding Offline Loan Account

User Name

One of the banks I have a loan through does not have an online sync. I tried to create the account manually in Quicken Home, Business, & Rental Property. This loan is for one of my properties. I'm new to this version of Quicken and the online cloud sync.
I go through the setup screens to add the account with the interest and initial loan amount. When everything is complete, the cloud sync no longer works and the what if tool on that account does not work. When I delete the loan I added manually, the cloud sync starts working again.
Any thoughts on what I might be doing wrong? It's not like there are very many fields in the initial setup to [mess] up.

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Quicken Jared

User Name said:

One of the banks I have a loan through does not have an online sync. I tried to create the account manually in Quicken Home, Business, & Rental Property. This loan is for one of my properties. I'm new to this version of Quicken and the online cloud sync.
I go through the setup screens to add the account with the interest and initial loan amount. When everything is complete, the cloud sync no longer works and the what if tool on that account does not work. When I delete the loan I added manually, the cloud sync starts working again.
Any thoughts on what I might be doing wrong? It's not like there are very many fields in the initial setup to [mess] up.

Hello @User Name,

I am sorry to hear about this problem with adding a loan account. Thank you for letting us know about this here on the Quicken Community.

Also, if you have the chance, you could save a backup by going to File > Copy or Backup File... in the upper menu at the top of the screen and then create a 'test' data file by going to the same menu and selecting New Quicken File... Next, choose New Quicken File in the screen that follows, and then click OK. After this, choose a file location on your computer and then click Save. Choose Don't use mobile and web when prompted.

Try adding your Loan account using the steps you normally would. I am curious if these issues continue in the test file.

I look forward to hearing about your results.

Thank you,

Quicken Jared

User Name

I can't test the sync tool with the test file offline, but the "what if" tool did work.

With the primary file reopened, I ran a validate and repair. Then I examined a loan that downloaded from the bank website. With the loan details added, I tried to run the "what if" tool on that loan. It did not work. I entered an extra $100 a month and the result was a savings of $160. Obviously that is wrong. Unlike manually entering the loan, the Cloud Sync still works.

I have been using Quicken for about a week now. I've only entered banking and loan information that downloads directly from the banks. It is a fairly clean file and I shouldn't be seeing this kind of issue. Any suggestions for next steps?

Tom Young

I'm going to go out on a limb here and say to you what I think most SuperUsers would say:

Don't download loan information. It seems like a pretty useless function, really, (all you're getting is a "push" into the loan Account of principal payments without any info on interest and escrow), and that "push" sometimes goes wrong. There's plenty of posts in here where the complaint is "Quicken shows my (downloading) loan is paid off, and it isn't!" If you set up a manual mortgage loan using the Quicken loan wizard you should get an accurate amortization schedule, payments can be entered directly into your checking Account (with all payment info) using the Reminder function, to be "Matched" to subsequent downloads from the bank.
Don't use Mobile and web. These features just seem to be too frequently associated with file corruption problems. (Sync seems to be implicated in a current problem where Tags get erased and it's been associated with other problems as well.)