Current loans

In Quicken, loan accounts represent borrowed money—whether from a financial institution or a private individual. Recording loans correctly ensures that your liabilities are accounted for, which is essential for accurate net worth tracking.

What is a loan?

A loan is any amount of money you borrow with the expectation of repayment. Loans typically reduce your net worth until they are paid off because they are listed as liabilities in your financial picture.

Use cases:

• You want to track your mortgage balance alongside other debts to see your total liabilities.

• You borrowed money from a family member and want to include the repayment schedule in your financial plan.

When you add a loan account in Quicken:

• The outstanding loan amount appears as a liability.

• Payments made toward the loan reduce the balance.

• Interest and principal can be tracked separately using detailed payment reminders.

Loan accounts help you maintain a complete and realistic view of your finances by showing how borrowed money affects your overall financial position.