Set up a loan for which you are the lender
150 people found this helpful
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.
- Add an asset account, where value of the asset is the amount you are lending.
- In the final window of account setup, when you are asked Is there a Loan on this asset?, select No.
- Open the account you just created, click (the Account Actions icon), and then choose Convert to a Lending Loan Account.
- In the Convert This Asset to a Lending Loan dialog, click Convert.
- Quicken creates an asset account with a payoff schedule. The account is identical to a "normal" loan account in Quicken. The only difference being the sign of the lending loan and its payments are opposite that of a "normal" loan
For more information, see:
Manage loans in Quicken