Home Quicken for Mac Errors and Troubleshooting (Mac)

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!

Comments

  • galojahgalojah Member ✭✭
    edited December 2017
    I don't have an answer -- but I would recommend backing-up your file before you take the plunge.
  • Unknown Member
    edited December 2017
    galojah said:

    I don't have an answer -- but I would recommend backing-up your file before you take the plunge.

    Good idea.
  • volvogirlvolvogirl SuperUser ✭✭✭✭
    edited August 2018
    Most of the users here recommend to NOT set up a mortgage for downloading.  Then you will not be able to make any manual entries to it or edit it if the interest doesn't come out right.   

    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". 
  • smayer97smayer97 SuperUser ✭✭✭✭✭
    edited December 2017
    volvogirl said:

    Most of the users here recommend to NOT set up a mortgage for downloading.  Then you will not be able to make any manual entries to it or edit it if the interest doesn't come out right.   

    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". 
    This is true on the Windows side...is it equally true on the Mac side?
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    (
    Canadian Q user since '92, STILL using QM2007)

  • Unknown Member
    edited January 2018
    Thanks for the tip. The original post mentions a scheduled payment transaction but I'm wondering if I can somehow automatically import the downloaded payment from my checking account to the loan if I set it up as manual. I deleted all my automated quicken entries when I started downloading transactions from my checking account because the automated transactions were duplicated with the downloaded checking account transaction. 

    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. 
  • Unknown Member
    edited March 2018
    It used to do this. I had Quicken 2015 for Mac. Had to upgrade to Quicken 2018 and it no longer works. The online instructions must be for old software because they make reference to a tab that doesn't exist. VERY FRUSTATING. This is such a basic request. I'e been a quicken user since it came out and this previously worked fine (except you always had to open the loan file and "make a payment".... then reconcile checking account... now if it works I have no idea how. ANYONE?
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