Reconciliation of Loan Accounts

David37211

I am using Quicken Classic Business & Personal for Windows.

When I attempt to reconcile my mortgage loan account with my mortgage statement, it only allows me to enter a new balance and only the newly created "adjusting" entry is marked as Reconciled. Can this use the similar Reconciliation approach as Credit Cards, Checking Accounts, Savings Accounts, etc.

NotACPA

I'm going to ask a Mod to convert this to an Idea, so that other users can vote upon it (or not) and see if it gains any traction.

That's how, if it gets sufficient votes, the Developers will consider it for a future change.

sksk

All accounts should have the ability to be reconciled so a user does not have to reconcile each transaction separately by right mouse clicking and choosing 'reconciled'. The functionality is already in Quicken, just extend it to all accounts.

UKR

Is that Loan account of Account Type = Loan (see in Edit Account Details, General tab)?
And is that account connected to the mortgage holder / bank for transaction downloading?

AFAIK, only Manual loan accounts (not connected for downloading) can be reconciled.
Manual loan accounts have a fully functional account register. Connected accounts do not … so, no reconciling.

NotACPA

@UKR The OP's issue, with which I agree, is that in a manual loan the "Reconcile" function only allows you to change the current balance of the account.

It DOESN"T let you select and mark off transactions to arrive at the current balance. All marking of transactions in the account must be manually changed to "Reconciled" as one would do with a banking or card account.