how do I setup a Home Equity credit line??

Ostensibly it is a liability account just like a mortgage; that is what I do. Unfortunatley they don't let you write checks out liability accounts. If you plan on writing many checks, you may want to make it a checking account that has a negative balance all the time and manually add the Interest expense that comes on your statement.

How about setting it up in Q as a credit card type account?

db

I set it up as a liability. Just like my mortgage.

I do not have an issue with check writing, as increases in the loan balance can be added directly to the register.

You have the option to set up a corresponding loan to match the liability. If the interest is not fixed, however, it would most likely be easier simply to enter each payment as a split transaction - with some going to the principle balance and some going to interest. Another option is to record the payments, and then use the update balance register option to update to the bank's monthly statement.

"Lisa C" wrote in news:IEAKg.242$ snipped-for-privacy@newsfe12.lga:

It all depends how things are set up. My current Bank of NY (in NJ) Heloc is set up to have the monthly interest added to the balance outstanding. I pay the loaned amount off by monthly payments in excess of the amount due on the statement. So I have two monthly transactions: An addition (the interest) to the outstanding balance (with category of Heloc_interest), and a subtraction (monthly payment) from the outstanding balance. The latter is a transfer from one of my checking accounts.

YMMV