Each time you record an amortized loan payment in your Quicken register, Quicken updates the payment schedule to show your new balance. You can view the payment schedule to see how much of your payment goes to interest and how much goes to principal. You can also see how much you've paid in principal and interest so far by checking the running totals.
- Open the loan account that you want to view the payment schedule for.
- If necessary, click the Payment Details button.
- Click Full payment schedule.
- Tell me about the payment schedule information
The Principal Paid column tells you how much of each payment goes toward the loan principal, and the Interest Paid column tells you how much goes toward the loan interest. Each time you record a loan payment Quicken updates the payment schedule to show your new balance, the number of remaining payments, and the payoff date. Payments you've already made and future payments are also shown.
- Select the Show running balance check box to see how much principal and interest you've paid to date.
- Tell me more about tracking interest
For tax purposes, you can create an itemized category report to see how much interest you've paid on the loan since the beginning of the year.
Notes
- Why is the schedule wrong after I delete a loan transaction?
Deleting a loan transaction from the register does not automatically reset the loan schedule.
If you delete a loan transaction from the register, you must reset the schedule. On the Payment Details tab, click Edit Payment Details and enter the next payment date.
- Why doesn't the amortization in Quicken's loan schedule match my bank's amortization?
Your loan provider may calculate amortization to either more or fewer decimal places than Quicken does.
If this is the case, the difference is usually very small.