Mortgage balance does not agree with bank balance

Homey Member

I noticed my mortgage balance in Quicken does not agree with my bank balance. There is an "Adj" to the balance in Quicken that I did not enter. I would like to delete this "Adj" amount or at least off-set the balance so my mortgage in Quicken agrees to the bank balance, which is accurate (note that I am a CPA and understand how to split the monthly mortgage payment between principal, interest and escrow, and do so to match my monthly mortgage statement provided by the bank). My question: There is no longer a mortgage register in Quicken that I can adjust to off-set this inaccruate adjustment. Thank you.


  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭

    There's no mortgage register because you enabled the account for download.

    At some point in the past, you apparently input an inaccurate payment … resulting in the difference.

    I'd suggest going thru your checking txn and finding the error. It should be about the time of the ADJ txn.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • arcarr
    arcarr Member ✭✭

    I've always had to make an annual adjustment to my mortgage balance. I don't think Q calculates mortgages correctly but treats them as straight loans.

  • arcarr
    arcarr Member ✭✭

    Correction - it's looks like Q does differentiate. What it did in 2005 when I started a mortgage i don't know.

  • UKR
    UKR SuperUser ✭✭✭✭✭

    Just my 2cents' worth …
    I would not bother attempting to activate any loan or mortgage accounts for downloading. I would just simply set them up as "offline" (manual) loan accounts with a Scheduled Reminder to record the monthly payment from your checking account.
    (Not discussing LOC or HELOC accounts here. They should be set up as offline credit card accounts)

    At least in Quicken for Windows, an online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.

    As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead. The category name seems to vary with the Loan Type you selected when creating the loan account in Quicken.

    Effective with Quicken Windows 2018 and newer
    you should be able to deactivate an online-connected loan account and regain full control over your transaction register. And you should also review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not to a Category.

    If you're a Q Mac user, you should be able to do something similar about setting up and maintaining an offline mortgage account together with a correctly calculated Scheduled Transaction Reminder for the monthly payments from your checking account.

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