Automatically assign a TAG to loan principle and interest?

Aug 29, 2010 4 Replies

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


"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 ...

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.]

Good idea. Unfortunately, I want to use the loan wizard to take advantage of all the principle and interest calculation widgets.

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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