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Posted by John Pollard on April 8, 2007, 10:07 pm
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Don in San Antonio wrote:
> 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.
Which is why, when you asked in your first post:
"Or do I even need a linked asset account for the loan?",
I answered:
"Only if you want to track the value of the car".
I then naturally assumed that aspect of the discussion was
complete.
--
John Pollard
First initial underscore Last name at mchsi dot com
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