When you set up a loan account, Quicken created either a memorized payee or a loan reminder to help you record payments. Regardless of the method, Quicken updates the loan balance each time a payment is recorded. If the loan is linked to an asset account, Quicken also tracks your equity in the asset.
Use a memorized payee
If you manage payments manually, enter the payment directly in the register:
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Open the register for the payment account.
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Begin typing the payee name. If a memorized payee exists, Quicken fills in the details automatically using QuickFill.
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If there is no match, enter the payment as a new transaction.
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Quicken will prompt you to memorize the payee for future use.
This method is best when you want full control over each payment entry.
Use a loan reminder
If your loan uses a reminder, Quicken notifies you when a payment is due:
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Wait for the reminder to appear on the Bills & Income tab, or
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To enter the payment manually, open the loan account from the Accounts bar.
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Select the gear icon (Account Actions) at the top of the account.
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Choose Enter Loan Payment.
The reminder fills in the details automatically. You can edit the transaction if needed before saving it to the register.