Pocket Quicken Connect/Loans

John Trites (trijoh@sinnfree.sinnfree.org)
Mon, 1 Apr 1996 13:58:44 -0600 (CST)

Just got off the phone with Intuit tech support. To refresh everyone, I
found that I could not get Quicken Connect to reduce the amortized
(principle/interest) amounts in a loan set up on Quicken PC.

According to Intuit tech support, this feature is not supported! Come on
Intuit, there's not many people who own a ogo and quicken who don't have
a single loan that they are tracking on quicken!!

I did find, after playing with pocket quicken/pocket quicken connect/and
quicken PC, that if you set up pocket quicken with splits: 1)principle
2)interest; you can kinda "back door" this whole thing.

What I did was this:

1) Set up a "new" check on pocket quicken with the same number of splits
as there are in your loan on quicken pc.

2) Go into your view loans and record the amount of your principle and
interest for the loan (remember...these change every month as your loan
is amortized over the period).

3) Write the check in pocket quicken and enter the amounts in step 2 in
the split category in pocket quicken.

4) When you go to transfer with pocket quicken connect, assign the
principle field of the split to the liability account your using in
quicken pc. Assign the interest field of the split to the category
you set your interest amounts to when you created your loan.

The above steps will reduce the principle/interest amounts in you loan
(in "View Loans" box) and reduce your liability account by the principle
amount.

I know....its a pretty shitty work around, but thats all Intuit gave us
to work with :-( . I figure I'll just write the check in pocket
quicken and leave the prior month principle/interest in there until I go
to transfer my check to quicken pc. The check register will be correct
as the total amount for the check written is the same as last month (the
principle goes up as the interest goes down each month so the total
amount is the same). Just b/4 I go to transfer I'll look up the amounts
for principle and interest on the loan for that month and edit the check
in pocket quicken b/4 I dump it to quicken pc.

BTW, the number for pocket quicken tech support is 505-896-7030. You
even get a real person for you dime ;-)

JT
trijoh@sinnfree.sinnfree.org