Extra Principle is not decrementing

I created a loan repayment account, filled in all the fields correctly as far as I can tell, interest, etc. On the payment details screen it shows the Account name, interest, and a field call Extra principle. which all have amounts. But on the balance sheet it only shows the original principle payment, not the extra principle so the account is not decreasing correctly.  In the account where the money is being pulled, all three amount show but in the loan,  only the required principle shows. 

Comments

  • Quicken HaroldQuicken Harold Alumni ✭✭✭✭
    edited January 19
    Hello sue. Appreciate your question.

    Which version of Quicken are you using: https://getsatisfaction.com/quickencommunity/topics/add-your-quicken-information-to-your-posts-plus-...

    Please let us know so that we can best help you.

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • UKRUKR SuperUser ✭✭✭✭✭
    edited January 19
    In your checking account can you show us the Split details dialog with the payment details for principal, interest, etc.?

    Can
    you please capture one or more images of the parts of your Quicken window
    showing the issue, sensitive information blacked out as necessary to protect
    your privacy but annotated to describe the situation, and attach the image(s)
    here?

    The Windows Snipping Tool (available with Windows 7 and up) can be used to
    capture a partial screen image and save it to a file.  Microsoft Paint can be used to annotate the
    image.

    https://support.microsoft.com/en-us/help/13776/windows-use-snipping-tool-to-capture-screenshots

    To take a screenshot in Mac please see https://support.apple.com/en-us/HT201361

    Please create image files of type PNG, JPG or GIF only.

    To attach the image here, start composing your reply. At the bottom of the text
    entry window on the webpage you'll see a row of icons beginning with B I U
    S

    Click the camera icon (not the video camera icon). It will allow you to select
    and upload the captured image file from your computer. The captured image will
    be inserted at wherever the cursor is located in the text.
  • suesue Member
    edited January 22
    Attached find the information requested. Thank you for your help with this. This is what you see as the payment details

    This is what it shows on the split transaction in the loan account, split icon far right of screen


    This is what is showing as the decrease amount, just the base principle, not the extra principle above.


    This is what I see from my Checking account register.


     I am using Quicken 2019, Version R17.6  build  27.1.17.6

    Thank you for your help with this. 

  • UKRUKR SuperUser ✭✭✭✭✭
    edited January 22
    sue said:

    Attached find the information requested. Thank you for your help with this. This is what you see as the payment details

    This is what it shows on the split transaction in the loan account, split icon far right of screen


    This is what is showing as the decrease amount, just the base principle, not the extra principle above.


    This is what I see from my Checking account register.


     I am using Quicken 2019, Version R17.6  build  27.1.17.6

    Thank you for your help with this. 

    The problem is in the Split transaction in your checking account.
    The 3rd line should be a transfer to [Cougar], not a category named "Extra Principal".
    Only if the extra principal is also transferred to the loan account will you see a correct reduction in loan balance.
    You must not be using the scheduled reminder as generated by the Loan Setup wizard or you may have made an incorrect change while trying to figure this out.
  • psobilopsobilo Member ✭✭✭
    I would suggest moving the "Extra Principal" text to the Memo field.
This discussion has been closed.