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How do I make a loan payment?

Updated: 7/18/2013 | Article ID: GEN82494

When you first set up your loan, Quicken created either a loan reminder or a memorized payee to help you make payments. Regardless of the payment method you use, Quicken records and tracks the current loan balance in the loan account. If there is an linked asset account, Quicken also tracks your current equity in the asset.

Using a memorized payee

You can enter loan payments manually into your register when they are due. Just start typing the payee name. If a memorized payee exists, Quicken will fill in the details; if a memorized payee does not exist, create the payment as you would any other transaction. Quicken will then memorize the payee and transaction so you can use it again the next time you make a payment.

Using a loan reminder

When your loan payment is due, Quicken reminds you to enter the payment into your register. If you don't want to wait for the reminder, click the loan name in the Account Bar, click (the Account Actions icon), and then choose Enter Loan Payment.

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