I am trying to set up my existing mortgage in Quicken for Windows - balance isn't matching bank
The key facts are as follows:
The mortgage was initiated in 2023 and my Quicken file begins on January 1, 2025.
The payment includes:
Principal
Interest
Extra principal
Escrow
Note: There is a place to enter extra principal so I did not include it in the "Principal" part of the payment.
I tried to set the account in Quicken as a mortgage loan which allowed me to enter the initial loan amount and the interest (fixed rate).
Because the loan predates the Quicken file date, I added a balance adjustment to set it to match the current balance. (I also thought of going all the way back to May 2023 when the loan began but am not sure I can do this.)
Quicken does not break down the principal and interest correctly so anything else I might add (escrow and extra principal payments) do not add the total payment up to match the amount paid from my checking account every month. I don't understand why I can't get this to work.
I also tried just setting the mortgage up as a regular loan and handling the split in the checking account. Unfortunately I couldn't figure out how to set this up. The posting that recommended this is closed and I seem to be missing some set up information.
Any suggestion about how best to approach this?
Thank you.