Connecting a Repeating Online Payment to a Loan

To connect a repeating online payment to a loan, first  create the repeating payment, and then create transactions to generate the repeating loan payment and record the loan amortization in your Quicken register.  

  1. To create the repeating loan payment:
    1. Click on Net Worth on the top menu bar, then select Loans.
    2. In the View Loans window, click New.
    3. Complete the Loan Setup wizard, and when you reach the Summary tab of the Loan Setup wizard, verify that your information is correct, and then click Done.
    4. In the Set Up Loan Payment dialog box, select Payment from the Type drop-down list. 
    5. Click the Payment Method button, and then select the Scheduled Bill option.
    6. From the Register Entry drop-down list, select Automatically Enter.
  2. To record the loan amortization in your Quicken register:
    1. From the Account to Pay from drop-down list, select the account from which you will make loan payments.
    2. In the Days in Advance field, type 32.
    3. Click OK, and then click OK in the Set Up Loan Payment window to save the loan and scheduled transaction you created.

Your repeating loan payments will now be recorded in your Quicken register approximately one month before the payment is made, and the downloaded statements will match your existing recorded loan transactions. The two transactions now appear in the Scheduled Transaction List.

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Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.