How to update balance?

fduryea
fduryea Quicken Windows Subscription Member ✭✭
edited February 20 in Budgeting and Planning Tools (Windows)

How do you update the balance in a Specific Category i.e. My Escrow balance at the begging of the year is incorrect?

Best Answer

  • fduryea
    fduryea Quicken Windows Subscription Member ✭✭
    Answer ✓

    I converted my 1997-2022 Data file to a new 2023 Data file.

    I verified my monthly splits and they tie back to the penny.

    I previously split my mortgage pmts into 3 accounts P, I, and Escrow on the expense side. As I was not sure I could create an Account for just escrow.
    I will try creating an escrow account in Bankin tomorrow.

    Thanks for your response and input

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    WHY is it incorrect? Did you mis-post (or not post) some transactions? When was the last time that you compared your Escrow balance to your mortgage statement?

    BTW, "Escrow" should be an ACCOUNT, it's money that you own. It's NOT a category. Youu put money into the Escrow account with each mortgage payment … and then various expenses (usually RE Tax and Insurance) are deducted from the Escrow account.

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

  • fduryea
    fduryea Quicken Windows Subscription Member ✭✭
    Answer ✓

    I converted my 1997-2022 Data file to a new 2023 Data file.

    I verified my monthly splits and they tie back to the penny.

    I previously split my mortgage pmts into 3 accounts P, I, and Escrow on the expense side. As I was not sure I could create an Account for just escrow.
    I will try creating an escrow account in Bankin tomorrow.

    Thanks for your response and input

This discussion has been closed.

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