Set up a loan for which you are the lender
A lending loan is a loan for which you are the lender and someone is paying you back on an amortized schedule. A lending loan is treated as an asset in Quicken that has a positive balance.
- Go to Tools > Add Account.
- Select Other Asset.
- Name the account and click Next.
- Enter the asset value (the value of the asset is the amount you are lending) and click Next.
- In the final window of account setup, under Is there a loan on this asset?, select No.
- Open the account you just created, click the Account Actions gear icon.
- Select Convert to a Lending Loan.
- In the Convert This Asset to a Lending Loan dialog, click Convert.
Quicken will create an asset account with a payoff schedule. The account is identical to a regular loan account in Quicken. The only difference being the sign of the lending loan and its payments are opposite that of a regular loan.