Explanation for variance with mortgage payment schedule between outstanding balance & principal
I am using Quicken Home & Business to track mortgages for which I am the lien holder for. I noticed there is miniscule difference between the principal paid subtracted from the remaining balance. The variance is small (.26 cents). This is from Quicken's loan tracking option using the view payment schedule. (Downloading as a CSV file into Excel)
Adding Principal and interest paid subtracted from the previous outstanding balance is short by cents and gradually increases each month by pennies. After four year's there is a .40 cent shortfall.
Why is this?
On another note, a separate question. How does one fix the second entry in the loan schedule report that represents the total payment? In the PDF "example of error" after the first entry it shows 2.5% and across the line is the full payment. Curious as to why Quicken creates this and how to eliminate it.