entering a loan payment no longer splits principal and interest

Hi Community,
I loaned money and the borrower makes monthly payments. I set up the loan schedule in quicken. For years, when entering the payment, Quicken split the payment into the principal and interest. All was well. In the end of 2022 I realized I missed processing the August payment. To keep the loan schedule accurate I deleted Sept, Oct, Nov and Dec payments and then reprocessed the payments starting in August. Now, when processing the January payment, quicken has split lines for principal and interest but zero dollars in the split lines.
Thanks in advance for your help/ideas.
Dave L.
Tagged:

Answers

  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭

    The loan payment split problem only occurs for Reminders Entered manually:

    Auto-Enter loan payment reminders don't exhibit the problem.

    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • Thanks "mshiggins".
    The reminders were always configured as 'Auto-Enter'. That said, I went into the Bill & Income tab to edit the reminders. The reminders for the loans show split lines with zero dollars. I deleted and readded the reminders. Fingers crossed, next payment that I post I won't need to manually override the split line principal and interest amounts.
  • shyatt60
    shyatt60 Member ✭✭
    I ran into this problem today. Entered the payment from bill payment/reminders. After sending the payment, I noticed the splits were missing and it put the whole payment in as uncategorized. I had to manually enter the splits. Something is off. It has never done this before.
  • Hi Shyatt60 and thanks for sharing your experience with a similar problem regarding splits. I am hopeful a pattern will evolve. I talked with Quicken support today, and the agent implied there was a 'bug', but needed me to confirm, next month when I post the loan payments that the splits are incorrect. After I confirm, the agent will escalate the issue. That said, I shared with the agent that I thought they had enough information to initiate an escalation, alas, I was unable to persuade the agent. So, I am waiting for next months payment to re-engage. Stay tuned!
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    Hi Shyatt60 and thanks for sharing your experience with a similar problem regarding splits. I am hopeful a pattern will evolve. I talked with Quicken support today, and the agent implied there was a 'bug', but needed me to confirm, next month when I post the loan payments that the splits are incorrect. After I confirm, the agent will escalate the issue. That said, I shared with the agent that I thought they had enough information to initiate an escalation, alas, I was unable to persuade the agent. So, I am waiting for next months payment to re-engage. Stay tuned!
    What that agent said is bunk! There is no need for them to wait to escalate. 

    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • shyatt60
    shyatt60 Member ✭✭
    > @mshiggins said:
    > What that agent said is bunk! There is no need for them to wait to escalate. 

    There is definitely a problem. They need to escalate it now IMO
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    shyatt60 said:
    > @mshiggins said:
    > What that agent said is bunk! There is no need for them to wait to escalate. 

    There is definitely a problem. They need to escalate it now IMO
    Here is a moderator post from another discussion on this issue indicating the issue is a known issue and has been escalated to product development for a fix:

    https://community.quicken.com/discussion/comment/20331600/#Comment_20331600

    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • Thanks for the link mshiggins, I am pleased to know the issue was not triggered my deleting and reentering payments, but would prefer a fix to the program. I expect to be manually doing the split until there is a update from Quicken.
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    Thanks for the link mshiggins, I am pleased to know the issue was not triggered my deleting and reentering payments, but would prefer a fix to the program. I expect to be manually doing the split until there is a update from Quicken.
    Or use the workaround posted earlier in this discussion:
    https://community.quicken.com/discussion/comment/20333803/#Comment_20333803
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list