Interest is deducting from principle

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SaraR
SaraR Unconfirmed, Member ✭
edited April 2023 in Errors and Troubleshooting (Mac)
My loan bank statements and quicken balances do not mach because quicken is deducting Loan: Loan Interest from the principle balance. This only occured for the first two payment which payment applied to interest only (no principle paid)
Quicken accounted for principle and interest correctly towards balance after this.
Is there a way to correct this?
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  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    Do those two payment transactions have a Transfer to the loan acocunt? Is it for the full amoutn of the payment, or is it split between a transfer to the loan and interest expense? Is there a transfer on the interest splits? If so, removing the transfer from the interest split should resolve your problem.

    Quicken Mac Subscription • Quicken user since 1993
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