Auto Loan Principle Not Included in Expense Reports

Options
rwmol
rwmol Member ✭✭✭
in Budgeting and Planning Tools (Windows)
When creating an expense to budget report the principle from my auto loans don't appear in the report. Interest is reported.

Answers

  • Sherlock
    Sherlock Member ✭✭✭✭
    edited January 2021
    Options
    Assuming you're using a manual loan, are including the loan in the budget, and referring to a default Current Budget or Historical Budget report: open the report, select the Accounts tab, uncheck the loan account, and select OK.
  • rwmol
    rwmol Member ✭✭✭
    Options
    Sherlock. Thanks for the response unfortunately your suggestion didn't change anything. I was wondering why my budget and spending didn't add up at the end of the month. Now I know why.
    I find nowhere to include principle payments for Property and Debt accounts in a Budget or a Report.
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    edited January 2021
    Options
    Hello @rwmol

    Thank you for the response and the additional details, although I apologize that you have not received a response.

    If you have not done so already, I would take a moment to review the steps and information available here to include transfers in a report.

    To include transfers in the budget, please see the steps below.

    1. Click Select Categories to Budget at the bottom of the Budget window.
    2. Click the Transfers In or the Transfers Out tab.
    3. Select the accounts you want to transfer money in or out of.
    4. Click OK to save your changes.
    I hope this helps!
    -Quicken Tyka
    ~~~***~~~
  • rwmol
    rwmol Member ✭✭✭
    Options
    Quicken Tyka,
    Thanks for the reply. The issue is now resolved. I had incorrect settings under the Advanced tab.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited January 2021
    Options
    @rwmol, while @Quicken_Tyka has provided you with a means to solve your issue, I'd like to explain WHY her response is necessary.
    A Budget is a planning tool for Income and Expense items ... which are recorded in Q by using Categories.  The use of an Income category means that you're richer (more assets) while the use of an Expense category means that you're poorer.
    In your case, the expense was when you purchased the auto and when you make interest payments on that loan.
    BUT, the transfer to reduce the amount of that loan doesn't change your net worth at all.  It reduces your cash/checking while at the same time reducing your amount owed.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • rwmol
    rwmol Member ✭✭✭
    Options
    NotACPA,
    Thanks you.
This discussion has been closed.

Categories