Article: Fixing Quicken Loan Calculation Errors
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Fixing Quicken Loan Calculation Errors
It is possible that the breakdown of a payment into principal and interest that Quicken makes will be incorrect. Rounding errors, payment delays, and perhaps even a bug in either Quicken?s or the bank?s calculations may mean that the loan balance that Quicken shows for a loan or mortgage is incorrect.
Understanding the problem
When the ending balance that Quicken shows is incorrect, it simply means that Quicken has incorrectly split one or more loan payments between principal and interest. What you need to do, in this case, is adjust the ending balance and categorize the adjustment as falling into the same interest expense category and subcategory as you are using to track the interest component of the loan payment.
To make this sort of adjustme...
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