Is there a mortgage or loan on this asset?

This screen appears when you add an asset in Quicken Classic for Windows and are asked whether it has an associated loan.

What this means

Linking a loan to an asset allows Quicken to track the loan balance, payment schedule, and interest. This information contributes to your net worth calculations and provides a more complete financial picture. You can choose to link a loan during asset setup or add one later.

If the asset has a loan

Select Yes, then choose one of the following options:

• Set up a new account for me: Choose this to create a new loan account in Quicken. Quicken will track the loan balance, interest, and payment schedule. The loan will appear in your Net Worth report.

• Choose existing account: Choose this if you're already tracking the loan in Quicken. Select the loan account from the drop-down list to link it to the asset.

• Do not track this loan in Quicken: Select this option if you do not want to track the loan. Quicken will not include payments, interest, or principal reduction in any reports.

If the asset does not have a loan

Select No to track the asset without linking a loan. You can edit the asset later if you decide to add a loan account.

Note: You can always return to the asset details and add or remove a linked loan at any time.