Proper Loan Payment - Expense Reporting

GeneralKaos

I have a few manual loans set up but I don't like the way the reports (banking/cash flow) reflect these transactions. For example: Car loan payment is $494.88. I set up the register on the checking account split as [Car Loan] $474.23 and $20.65 Loan Payment: Interest. The $474.23 principal payment/transfer accurately reduces the loan balance account. What I don't like is when running banking or cash flow reports the principal payment doesn't show up as an expense but only as a transfer. Is there a way to reflect the full payment as an expense while also reducing the loan balance?

bmciance

No because it is not an expense.  It may be an "expenditure", but since it reduces a loan balance it is not an expense in accounting terms, only the interest is. It is properly reflected as a transfer.

GeneralKaos

@bmciance Ahhhh yea that makes sense. Completely understand these won't show up under any expense categories. Why would the loan payments not show up on the cashflow reports? For example under the "Spending" tab it shows the monthly total with all loan payments included but I can't find a report that does that.

Unknown

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mr1ncredi6le

I have a similar quest - I am trying to set up a very simple budget, with two main categories: "fixed costs," and "everything else" (full of sub [and sub-sub]categories). That's literally what I am calling them. Items like loans are fixed costs in my brain. I took out a loan, and I need to make the minimum monthly payment.

I want to track the loan in quicken to see the principal drop, AND I want to see my cash flow/spending categories correctly reflect the total loan payment (P+I) amounts against my monthly fixed spending. I expect my fixed category to be the same every month, and I will see variability in my "everything else" category. I want to just look at that 'everything else' category to see how close to the end of my set budget is and stop spending.

mr1ncredi6le

Actually this guy solved my dilemma

https://community.quicken.com/discussion/7928665/why-do-car-payments-that-i-have-made-for-the-last-year-not-show-up-when-i-run-a-report#latest