Mortgage Payment Update w/ Transactions
Using Quicken Mac 2018. I have a mortgage account set up. I want to link this account to my actual mortgage bank account so it updates automatically. Right now I have to manually split the mortgage payment I get from my checking account (principal/interest/escrow/extra principal).
I'm worried about what will happen when I set this up and start importing transactions:
Will it try to clear out the last 5 years of transactions that are already in there?
Will it duplicate the last 5 years of transactions?
When I download my account updates every month (OK, every 6 months, who am I kidding), how do I match the payment from the checking account to the mortgage payment that was imported from my mortgage bank so that there aren't two of them?
Thanks!
I'm worried about what will happen when I set this up and start importing transactions:
Will it try to clear out the last 5 years of transactions that are already in there?
Will it duplicate the last 5 years of transactions?
When I download my account updates every month (OK, every 6 months, who am I kidding), how do I match the payment from the checking account to the mortgage payment that was imported from my mortgage bank so that there aren't two of them?
Thanks!
0
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Comments
Here's an answer from another user UKR on this post, https://getsatisfaction.com/quickencommunity/topics/no-transactions-shown-in-payment-details
For whatever it's worth ... I would not bother attempting to activate a loan account for downloading.
An online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.
As a result of this, the scheduled payment transaction cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead.
If you want to have full control over both the loan account register and the payment transactions set up your loan account as a "manual loan account".- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
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(Canadian Q user since '92, STILL using QM2007)
What I'm trying to accomplish is that when Quicken sees my mortgage payment transaction from checking, it automatically splits it into the correct categories and deducts the correct principal from my mortgage account.