Quicken Simplifi makes tracking your liabilities as easy as a summer breeze! When you connect your liability accounts in Quicken Simplifi, you will not see transactions downloaded into the connected liability account, but Quicken Simplifi will update the liability balance as changes are made to the balance on the bank's website.
If you cannot connect your online liability accounts or you just want to manually track your loan accounts, you certainly can!
To create a manual liability account:
To create a manual liability account:
From the Dashboard, click on the +ADD button in the upper left.
Select Add Manual Account.
Enter an Account Name and select Account Type > Liability.
Select the type of liability that you are tracking.
You can also enter a Balance, an "as-of" Date.
Once you have created your manual liability account, you will be able enter manually created transactions, such as payments, into your liability account, split payment transaction to reflect what portion of your payment went towards the principal balance and/or the interest of the liability, and you can add tags to your transactions to mark your deductible transactions!
If you have any questions or concerns regarding liability tracking in Quicken Simplifi, please don't hesitate to contact our amazing Support Team!