Overview
If you have a loan or other debt, tracking it helps you understand your finances. Quicken Simplifi makes it easy to set up and manage liability accounts—whether they’re linked to your bank or added manually.
You can track loans and other liabilities with a connected account or a manual account. Follow the steps below to get started.
Note: When you connect a liability account in Quicken Simplifi, transactions won’t download. To track payments or interest, create a manual liability account and enter the transactions yourself.
Create a Manual Liability Account
To see transactions for a liability account, create a manual account first. After it’s set up, you can enter payments, interest, and other transactions yourself.
From the Dashboard, click + New in the upper left.
Select Add Manual Account.
In the Account Type dropdown, select Liability, then choose the type of liability you want.
Use the Usage Type dropdown to specify if it's for business or personal.
Enter the Account Name, Opening Balance, and Date.
Click Continue.
Note: In Quicken Simplifi, transactions added to an Other Liability account are excluded. They won’t show in your Watchlist or Expense Reports.
Track Payments with Manual Transactions
You can create split transactions to show how much of a payment went to the principal and how much went to interest. You can also add tags to mark deductible transactions.
From the liability account you created, click the +Transaction tile in the upper-right corner.
Enter the Payee (e.g., Loan Payment).
Enter the date and the total payment amount.
Click on the Split button.
For each split:
Select the correct Category (for example, Loan Principal, Loan Interest).
Enter the amount for each part.
(Optional) Add tags to mark deductible expenses.
When finished, click Continue.
If you have any questions about Quicken Simplifi, our support team is here to help.