How to carry personal loan to daughter?
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I loaned $$ to my daughter to buy a car. How do I carry/treat it in Quicken for Windows?
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Best Answer
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Put "Lender Loan" in the Quicken search box in the program.FROM QUICKEN 2013 HELPA lending loan is a loan for which you are the lender and someone is paying you back on an amortized schedule. A lending loan is treated as an asset in Quicken that has a positive balance.1. Add an Asset Account , where value of the asset is the amount you are lending.2. In the final window of account setup, when you are asked Is there a Loan on this asset?, select No.3. Open the account you just created, then click the Account Actions icon (the gear icon on the top of the register), and then choose Convert to a Lending Loan Account.4. In the Convert This Asset to a Lending Loan dialog, click Convert.5. Quicken creates an asset account with a payoff schedule. The account is identical to a "normal" loan account in Quicken. The only difference being the sign of the lending loan and its payments are opposite that of a "normal" loan.
I'm staying on Quicken 2013 Premier for Windows.
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Answers
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Put "Lender Loan" in the Quicken search box in the program.FROM QUICKEN 2013 HELPA lending loan is a loan for which you are the lender and someone is paying you back on an amortized schedule. A lending loan is treated as an asset in Quicken that has a positive balance.1. Add an Asset Account , where value of the asset is the amount you are lending.2. In the final window of account setup, when you are asked Is there a Loan on this asset?, select No.3. Open the account you just created, then click the Account Actions icon (the gear icon on the top of the register), and then choose Convert to a Lending Loan Account.4. In the Convert This Asset to a Lending Loan dialog, click Convert.5. Quicken creates an asset account with a payoff schedule. The account is identical to a "normal" loan account in Quicken. The only difference being the sign of the lending loan and its payments are opposite that of a "normal" loan.
I'm staying on Quicken 2013 Premier for Windows.
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Thank you very much, just what I needed!0
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@mshiggins said:"Put "Lender Loan" in the Quicken search box in the program."That should read:
- From the Menu bar in
Quicken click Help / Quicken Help or press the F1 key from anywhere in Quicken
- Search Quicken Help for keyword "lender loan"
- Step by step directions are listed.
0 - From the Menu bar in
Quicken click Help / Quicken Help or press the F1 key from anywhere in Quicken
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