Transaction Entry List

PACSTAR

Why is "Hide in transaction entry list" on account details greyed out on a Loan. So, it means I cannot do a transfer from one account to another. Also when I go to the "Payment Details" I cannot see any transactions.

Thanks

Chris_QPW

In Quicken Windows there is a tradeoff. If you decide to download transactions into a loan account, the register is hidden.

If you want to see the transactions, you have to change it to an offline/manual entry account. In practice there is really very little benefit from downloading transactions into a loan account. Most of the transaction is in the checking account which you setup with the loan scheduler. And if it has cleared the checking account for sure it has cleared the loan account too. Other than looking at the loan balance there really shouldn't be any "reconciling" of the loan account. If there is a problem, the correction will be in changing what happened in the checking account not what happened in the loan account. With the exception if the loan changed for say refinancing or something like that.

PACSTAR

Well, by downloading the transactions, it also tracks the interest payments. So by doing offline/manual entry, I need to manually enter loan interest manually. Then the payments from the account would just match as they would in any other downloaded transaction. So there's no way to do that?

Chris_QPW

When you setup a manual loan it takes you through the loan scheduler that will calculate the interest and create a reminder with the payment split out. That reminder is special in that the interest/payment split is recalculated for each month.

PACSTAR

So the best thing then to do is to keep the "Connected Account" and keep it "Separate" so it's not included in reports and Net worth, and then create an "Offline Account" so that I can link the payment transfers to an account.
I'm not sure why an account would ever want to be set up like this. I have the "Connected Loan" setup and its tracking the current balance, but there's no way to "Match" the transactions from the account I make the payments from.

Chris_QPW

The "connected loan" accounts have always had lots of problems, and for very little return, that is why the SuperUsers suggest not using them at all. For instance, people come on here and report that their loan is flagged as closed when it isn't. There just isn't any way to fix them and as such when they have a problem. As far, actually using one and what can and can't be done, I can't really tell you about that since I have never had a loan since they started allowing this.

I can give you a bit more history back when the majority of people were asking for "connected", they envisioned it as the same way would have happened with downloaded transactions. You would setup the loan and have your reminder with the special split of principal and interested and you would download the net amount and match it.

That isn't what Intuit did (this was before they sold Quicken). They were facing two problems. One was this request for downloading/reconciling the loan account, and the second was that people were complaining that the loan scheduler couldn't handle some of the odd ball schedules that some loans were using. So, they went with this idea "get the information from the loan company and believe whatever it says". Basically, now they pushed "what is the schedule" for the loan to the loan company. But then they judged that they couldn't come up with a good system that if the information got wrong somehow, how to correct it. Facing this problem, they just punted, and hid the register.

From what I understand Quicken Mac kept the register, and has some way to deal with that problem, but Quicken Windows hasn't got that. Here is an idea for bringing that to Quicken Windows that can be voted on.

https://community.quicken.com/discussion/7942982/quicken-windows-should-implement-connected-loan-accounts-like-quicken-mac-does

PACSTAR

Thanks for that. I voted it up. All I want to do is be able to be able to "Match" the transaction to the transfer to the account. Sounds like leaving the connected account separate (hidden) is the easiest way to do that for now. And then I'll used the non-connected account to manage the transactions and manually put the interest transactions in for the next 30 years. SMH