Managing loans quick tips

Quicken helps you track loans efficiently—whether you're paying off debt or managing money you've loaned to someone else. From setting up a new loan to adjusting terms or interest rates, the tools are designed to give you a full picture of your balance, equity, and payment progress.

This guide offers quick tips for the most common loan-related tasks, including short instructions to help you get started.

Set up a loan

Track the balance, payments, and interest for a loan.
To do this: Choose Tools > Add Account > Loan, then follow the setup prompts.

Work with a loan

Review balances, interest paid, and remaining terms.
To do this: Open the loan from the Account List and explore the available tabs.

Make a loan payment

Apply a payment to reduce your principal and interest.
To do this: Enter a payment manually in the linked checking account or use a loan reminder.

View your loan schedule

See upcoming payments and how they are split between principal and interest.
To do this: Open the loan account and select the Payment Schedule or similar view.

Change a loan payee

Update the name of the company or person you send payments to.
To do this: Edit the payee in your loan reminder or transaction register.

Change your loan terms

Update the loan amount, length, or payment frequency.
To do this: Open the loan account, click Loan Details, and choose Edit Terms.

Change your loan payment

Adjust your scheduled monthly payment amount.
To do this: Edit the amount in your payment reminder or loan setup.

Change or add a loan reminder

Keep payments on schedule by editing or adding reminders.
To do this: Go to Bills & Income, find the reminder, and choose Edit or Add Reminder.

Change the interest rate for a loan

Record changes for adjustable-rate loans.
To do this: In the Loan Details section, update the interest rate entry.

Delete an interest rate for a loan

Remove an incorrect or outdated interest rate entry.
To do this: In the loan’s rate list, highlight the entry and select Delete.

Hide or close a paid-off or refinanced loan

Keep your records but remove the account from active tracking.
To do this: Open the loan’s Account Details and choose Hide this account or mark it as Closed.

Create a report showing the interest paid on a loan

View total interest paid for budgeting or tax purposes.
To do this: Use a Custom Report filtered by the loan account and appropriate interest category.

Set up a loan for which you are the lender

Track repayments and outstanding balances on personal loans you've issued.
To do this: Choose Tools > Add Account > Other Assets & Loans, then select Loan to others.