Selling a House

LoBob

I have mt asset and mortgage set p in Quicken. I have sold my house but I don't know how to "sell" it in quicken. I kept some of the porceeds in a regular account and some went to my investment account. How do I recod the sale, paying off the house, deleteing the asset and then placing the proceeds into my account balances

Mark1104

what you really want to do is use the settlement statement to reflect all the expenses and proceeds of the sale.

or if you don't want to be that detailed, then simply, make one entry to cash to reflect the money you received, and reduce the house value and the mortgage to zero at the same time. There will be a difference and it will either be income ("house profit") or expense ("cost of selling house').