Loan Amortization in Quicken for Mac (333 Legacy Votes)

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Comments

  • smayer97smayer97 SuperUser ✭✭✭✭✭
    edited August 2018
    This IDEA request was only partially implemented. The basic feature of automated loan amortization was implemented in QM2017 v4.5, released April 2017, but only for fixed rate loans.

    It still does not handle the following:
    • variable rate loans
    • simple interest loans (cars, student loans, etc)
    • amortized loans as an asset, where you are the lender
    If you have not, make sure to clicking VOTE at the top of the page to have your vote counted to see the rest of this feature implemented. YOUR VOTES matter!

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (Canadian  user since '92, STILL using QM2007)

    Have Questions? Check out these FAQs:
  • MegMeg Member
    edited July 2018
    Yes. That's exactly my point. Quicken 2007 was able to do that. 11 years ago.
  • jacobsjacobs SuperUser ✭✭✭✭✭
    edited July 2018
    Meg said:

    Yes. That's exactly my point. Quicken 2007 was able to do that. 11 years ago.

    Exactly. And there are a lot of other things Quicken 2007 was able to do that we can't do in Quicken 2018 yet.

    There's a long and twisted story about the how's and why's of the crazy path of re-creating quicken for Mac from scratch after they decided back in 2007 the they couldn't move the old code base forward any more on Mac OS X. There was a first iteration that failed to even come out of beta testing, and then the second iteration, which was Quicken Essentials in 2010. A full Quicken Deluxe was supposed to follow a year later, but the executive in charge (who had been the founder of Mint) jumped ship and Mac efforts were nearly disbanded for a couple years. By the time they decided to focus on building a full-fledged Quicken for Mac again, they had to start with a new product manager and an all-new team of developers which was initially just a few people. Things are somewhat better now, but the fact remains that features that had been developed over more than two decade for Quicken Mac need to be re-though and re-developed for the modern Quicken Mac.

    The developers still have a long list of features users are asking them for, like this one, and it's going to take a bit more time until they cross a lot of such feature requests off the list. As they prioritize what to tackle sooner versus later, things which aren't perfect but have a viable work-around have more often been left for later. I think this is one of those things. As I described in my post above, you definitely can have an asset account to track a loan you make to someone, but you have to do some of the work manually, until they get around to programming the automation for amortization.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • HoltHolt Member
    edited July 2018

    This IDEA request was only partially implemented. The basic feature of automated loan amortization was implemented in QM2017 v4.5, released April 2017, but only for fixed rate loans.

    It still does not handle the following:

    • variable rate loans
    • simple interest loans (cars, student loans, etc)
    • amortized loans as an asset, where you are the lender
    If you have not, make sure to clicking VOTE at the top of the page to have your vote counted to see the rest of this feature implemented. YOUR VOTES matter!

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
    Thanks for clarifying the status and adding amortized loans as an asset! Look forward to loans as assets being added!
  • Lysander SpoonerLysander Spooner Member ✭✭✭
    edited December 2018
    Is this feature/report available yet? I cannot seem to find it.
  • smayer97smayer97 SuperUser ✭✭✭✭✭
    @Quicken Marcus many do not see this as fully implemented as noted above, so have been continuing to vote for this, because of the following:

    The basic feature of automated loan amortization was implemented in QM2017 v4.5, released April 2017, but only for fixed rate loans.

    It still does not handle the following:
    • variable rate loans
    • simple interest loans (cars, student loans, etc)
    • amortized loans as an asset, where you are the lender
    You may want to reconsider the status of this idea thread.

    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (Canadian  user since '92, STILL using QM2007)

    Have Questions? Check out these FAQs:
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