Heloc Balances/Showing Up as Credit Cards

orinbe

I have a couple of helocs with banks who i also have checking accounts. when importing them to Quicken online account, the balances are either not there at all or they reflect credit available. Is there a way to reconcile these so they reflect accurate balances?

orinbe

I have a heloc that is showing up under credit cards. Ive tried to change it and the only other similar option is labeling it as a line of credit. Is there a way to have it show up under property and debt?

NotACPA

In QWin, and I suspect QMac as well, HELOC accounts are treated as  if they were cards because of the nature of the account. 

In a HELOC, unlike most other loans, you can take multiple subsequent draws and make payments in varying amounts.  These characteristics are more like a card than like most loans, which typically have a single draw and fixed payments.

re: the display issue, since I'm a QWin user I'll have to take a pass and let a QMac user respond.

jacobs

@NotACPA is correct: in Quicken Mac, like Quicken Windows, HELOC accounts are treated like credit cards because the accounts behave in a similar way. But in Quicken Mac, unlike Quicken Windows, users cannot customize the left account sidebar at all, so if you'd rather have the HELOC show up under Loans, you can't. So just rename the account if needed so it's clear to you that it's your HELOC, and live with where Quicken places it.

One small tip you might find useful is that you can control the order of accounts within each subgroup by using numerical prefixes. For instance, within the Credit Card sub-group, you could order your accounts like this:

    1-Hilton Amex
    2-Capital One Visa
    3-Lowes credit card
    9-ABC HELOC 

Rocket J Squirrel

Each HELOC should be represented as a Credit Card account in Quicken. Are yours set up that way? If not, you'll need to create new accounts for them and that should provide better accuracy.