How do I enter that we sold our house and paid off the loan?
Let’s take the simplest possible example:
The absolute simplest way of reflecting this would be a series of entries in the checking account like this:
There's no "Gain on Sale of House" Category in Quicken, I simply created it to make a balanced accounting entry.
Of course in the real world transactions are rarely this simple and there's frequently expenses allocated between buyer and seller, like property taxes that you need to recognize in your file, using the correct Category.
You could also just enter the net deposit and split that deposit in the same fashion as I've done with separate entries. This is just a little less confusing.
Thank you!
