Automatically assign a TAG to loan principle and interest?
Aug 29, 2010 4 Replies
M
Mr.Jan
From my research and checking other posts here I don't see a way of doing this but I want to set up a loan where the interest and principle are assigned a tag. I can do that with the escrow but it looks like I will have to manually add the tags every month.
Any thoughts?
Thanks
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H
Han
"Mr.Jan" wrote in news:3be4e4c2-1a7e-430f-8d99- snipped-for-privacy@a36g2000yqc.googlegroups.com:
I think I would set up a memorized transaction with splits, transfers and tags (I hope that's possible). Then have the transaction automatically entered (I do it 30 or more days in advance so I can see how the wind blows). You likely have to edit the amounts each time when you know them.
But then, I haven't tried ...
J
John Pollard
Not sure why you want to do this.
I don't believe there is any way to use a Loan Wizard generated transaction to assign a tag to the principal payment*.
But you can assign a tag to the Loan Wizard transaction interest category.
To address an existing loan:
Net Worth > (Choose Loan) > Edit Payment
In the "Category for Interest" field, key a forward slash at the end of the mortgage interest category, followed by the tag name.
[* In the most recent versions of Quicken, you can use Find/Replace to retag transactions, including "transfers" in split transactions, such as the transfers to pay the mortgage principal. So you can tag your principal payments - en masse, after the fact - using Find/Replace.]
M
Mr.Jan
Good idea. Unfortunately, I want to use the loan wizard to take advantage of all the principle and interest calculation widgets.
M
Mr.Jan
Thanks. That only leaves the principle part. I can edit that.
I am doing this because my partner and I use a common checking account to pay our household bills. We are co borrowers but have agreed that we each are responsible for a different amount of the debt due to contributing different amounts to the down payment. (yes, I know legally we each are responsible for all of it). We also tend to deposit different amounts as our pay periods are different and she likes a bigger cushion than I do. I am currently using a pretty spiffy speadsheet to track all this and would love to determine who has how much of the joint account through Quicken. Tags seem the logical course and I have to tag every transaction to do this.
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