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Posted by John Pollard on June 10, 2006, 4:51 pm
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> How do you set up a loan so that each month Quicken (I'm using
> 2006
> Premier) will keep track of the balance, interest and
> principle
> payments.
> I set up the loans with all the data
If you used the Quicken Loan Wizard to setup the loan, you
should be ready to go.
Property & Debt > Loans > New
> but I must be missing
> something in the instructions because I don't see how to apply
> payments
> and then have them automatically split the payment into
> interest,
> principle, and other escrow payments.
When you create a loan in the Loan Wizard, you have the option
to make the payments as Scheduled Transactions or Memorized
Transactions. Quicken takes care of splitting the payments
correctly between principal and interest no matter which payment
method you choose; the scheduled or memorized payments are
linked to the payment schedule created by the Loan Wizard.
--
John Pollard
First initial underscore Last name at mchsi dot com
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