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manual manual

If you’d prefer to add a

“disconnected” or manual loan account

, click the “+ Offline Account” button at the bottom of the Add

Account window

1. Select Loan or HELOC as appropriate

2. Enter your loan information.

   
   

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   title Loan Name
   Enter the name you want to use to refer to the account in Quicken. This name will appear in reports, and in the Quicken interface.

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   title Loan Type
   Select the type of loan you want to set up. Your selection determines the categories Quicken creates to track your loan. For example, to track a mortgage Quicken creates Home:Mortgage:Principal; and to track an auto loan Quicken creates Auto&Transport:Auto Payment:Principal. For "connected" loan accounts, this option may not be available because the loan type is determined by your financial institution.

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   title Opening date and original balance
   If your loan is: A new bank loan, enter the loan amount in Original Balance. Quicken inserts today's date in Opening Date, but you can change it. An existing bank loan, enter the original balance of the loan in Original Balance, and enter the date on which you first took out the loan in Opening Date.

   
   
   

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   title Current interest rate
   Current interest rate Enter the interest rate that will be in effect for the next payment. If the loan is an adjustable-rate loan, you can change the rate when necessary. You don't have to enter the percent sign.

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   title Original length
   The Original Length of the loan refers to the period of time during which payments are due, starting from the date the loan was opened until the date the last payment is due.

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   title Compounding

1. Period

   Tell Quicken how often your loan is compounded. Select Daily, Monthly, or Semi-Annually from the drop-down list. The Compounding Period affects how much interest is owed on a loan. The more frequently the interest is calculated, the higher the total interest is.

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   title Payment schedule
   Tell Quicken how often you make payments. Select the period that matches your loan from the drop-down list.

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   title Current balance
   Enter the amount due on the loan, as of the opening date you entered above. For "connected" loan accounts, you may not be able to change the current balance because it is downloaded from your financial institution.

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   title Monthly payment
   Enter the base amount of your loan payment. Include your regular payment only (principal + interest). Don't include any fees other amounts. If this is an interest-only loan, enter it as the payment amount.

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   title Next payment due
   Enter the date by which your lender must receive payment.

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   title Other
   Enter any additional fees that you are required to pay on top of your base loan payment.

   
   
   

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   title Extra

1. Principal

   Enter any additional money you want to pay towards reducing your loan principal.

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   title Loan payment reminder
   If you are adding a "connected" loan account, you may set up a simple or a detailed loan reminder. If you are adding a "disconnected" manual loan account, you may set up a detailed loan reminder only. A simple loan reminder tracks only the loan payment total. A detailed loan reminder tracks all of the line items included in your loan payment total –things like interest, private mortgage insurance, and property taxes. Tracking these items can help you plan and project your spending and taxes. To learn more, see Set up a detailed loan payment reminder.

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   title Add a linked asset account
   Quicken asks if you'd like to set up an asset account to track the value of the item you're purchasing with this loan. This makes net worth reports more accurate. If you'd like to set up an account, click Add linked asset account and select the type of asset account to create. If you don't want an asset account, click Done. Quicken displays your loan in the Property & Debt tab.