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:
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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.
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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.
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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.