How to make mortgage payment in Q2012???

"David Arnstein" wrote

I recently upgraded Q2012 Premier to Q2013 Premier. Now I don't know how to make a mortgage payment!

In Q2012, I made a mortgage payment by navigating to loan details, and then pushing a button marked "make a payment" or something. Quicken knew my total monthly payment, including extra principal that I always pay. Quicken also calculated the split between principal and interest. All I had to do was fill in a payment date and check number.

Now I can't figure it out! In Quicken help, I see references to "memorized payees." I don't know how to use that.

How can I approximate the old (Q2012) behavior?

--------------------------------------------------------------------

The old "Loan Details" dialog is gone ... permanently. This was required in order to allow users to download to their Quicken loan accounts. :(

When you create a loan in Quicken, you get the choice to create a scheduled transaction or a memorized transaction for the loan payment. Unless you have since deleted the loan payment transaction Quicken created, it will still be where it was before you converted to Q2013: in Tools > Manage Bill and Income Reminders, or Tools > Memorized transactions.

To use the scheduled transaction to enter the loan payment: if you have it set to enter "Automatically", you don't need to do anything; if you have it set to Remind you, just click its Enter button when it reminds you.

To use the memorized transaction to enter the loan payment: start keying the loan payee in the Quicken payee field in the payment account register; when Quicken fills in the remainder of the split payment transaction, click Save or press the Enter key.

Wow! That's a surprise! How does one look at the loan details that was provided in Q2012 in Q2013? It has been great to review all the details regarding a mortgage loans. What view replaces it and provides similiar details?

snipped-for-privacy@email.com wrote

Wow! That's a surprise! How does one look at the loan details that was provided in Q2012 in Q2013? It has been great to review all the details regarding a mortgage loans. What view replaces it and provides similiar details?

-------------------------------------------------------------

As best I can tell, all the loan information that was in previous versions is still available in Q2013 ... just located in different places, accessed by different means - essentially all of it associated directly to the loan account (rather than through some separate menu choice like Property&Debt > Loan Details). And there is info available in Q2013 that was not present in earlier versions, such as a What If? tool for the loan.

There is still work going on to complete the new Q2013 loan account process. When that work is finished (and assuming it is successful), I suspect some will like the new loan presentation better than the old ... and some will not.

I was afraid that you would say that. Haven't "scheduled transactions" and "memorized transactions" been involved with many bugs and complaints in the past?

Thanks John,

That helps - I am looking at updating to Q2013, but am waiting for Turbotax 2012 to come out and I can get a "Combo" package. charliec

"David Arnstein" wrote I was afraid that you would say that. Haven't "scheduled transactions" and "memorized transactions" been involved with many bugs and complaints in the past?

----------------------------------------------------

Not to my knowledge or experience. But then, I have no idea how much "many" is, or how it compares to the number of other "bugs and complaints".

Scheduled transactions are the only way I have ever handled my two mortgages, and I have never experienced a single bug with them, or had a single complaint about them.

I also use memorized transactions and have never had any problem with them.

[But using the "Make Payment" button in Loan Details (View Loans), did have a bug. It's been a while since I looked into it; but as I recall, it had to do with stripping the Tax Line item from the loan interest category in the resulting register transaction.]

snipped-for-privacy@email.com wrote

That helps - I am looking at updating to Q2013, but am waiting for Turbotax 2012 to come out and I can get a "Combo" package.

----------------------------------------------------

I think it's a good idea to wait.

Q2013 has been a big project for Intuit. They coupled fixing the Q2012 budget mess, with adding the ability to download loans, with introducing a mobile capability for Quicken. The budget fix is not quite complete and neither is the impact on loan accounts ... mobile problems have been draining resources.