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Posted by Don in San Antonio on April 8, 2007, 9:43 pm
Please log in for more thread options John Pollard said the following on 4/8/2007 8:18 PM:
> Don in San Antonio wrote:
>> John Pollard said the following on 4/8/2007 1:34 PM:
>>> Don R wrote:
>>>> Just set up a new car loan and was wondering how to
>>>> handle the linked asset feature.
>
>> John, thanks for the reply. It seems that the car and
>> the loan should indeed be associated. I set up the loan
>> first without an associated asset, then I created the
>> asset account (the car) and associated it with the
>> existing loan. When you create the asset account Quicken
>> asks if there is an associated loan thus linking the
>> asset and the loan.
>
> You don't have to have an asset account at all.
>
> If you *want* an asset account (if you *want* to track the value
> of the asset that you took out the loan to buy - which is not
> necessary), and you neglect to have Quicken create the asset
> account when you create the loan account in the Loan Wizard ...
> you can create the asset account later, and link the two ... as
> you have noticed.
>
> So it does not matter whether you have an asset account for the
> loan or not, to Quicken .
>
As you say, it's not necessary (as far as Quicken is concerned) to
create an asset account, but it does help your net worth picture to
create one.
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