Reply: 1.1
From: Sim' Hampel
Where am I ? Travelling and working... so I don't have access to my Quicken right now.
Basically, I don't use the loan amortisation features of Quicken (too unreliable and doesn't really work with my loan structures)... I use a standard liability account to track balances and such.
I track a few P&I loans (with offset accounts) as well as a couple of IO LOCs all with their own liability account.
I have an asset account tracking the value of the property, which is linked to the primary liability account secured by that property (the linking thing is a Quicken 2002 feature). This is just so the pretty graphs look better.
I also use scheduled transactions to remind me and automatically enter interest charges. These are either fixed amounts, or estimates based on the last 3 transactions, and I use my internet banking to work out what the exact charge is before I enter it.
Remember I am using Quicken to track expenses as I am charged for them or income as I am paid it. For reccuring events I use scheduled transactions. I do not try and have Quicken to things for me automatically like track my mortgages.
Hope this helps.
Heck, by the time I've answered a few more of these types of questions, I will have enough material for a first draft of my book ! ;-)
