Question

Loan manager QB 2022

Forum|Forum|4 years ago
May 7, 2022
13 replies
0 views

Intuit removed loan manager which has been a critical feature for me for over a decade without warning and that is unacceptable. After being forced to upgrade to a new more expensive annual subscription model brought with it a diminution of features without warning is appaling and I am hoping there is a way to get that feature back with QB2022 as it was in QB2019.

Thanks,

Steve

QuickBooks Desktop

KlentB

I know that this hasn't been easy for you, swsantos.

The Loan Manager was discontinued in QuickBooks Desktop 2022. Please know that you'll still be able to use this in the previous, currently supported versions.

I understand how crucial to have this feature in managing your loan, interest, and payment schedules. You'll want to share your thoughts on why the feature shouldn't be discontinued and must be added back into the program. We always monitor our customers' requests/ideas and take them into consideration when prioritizing product updates. Here's how to send your feedback:

Go to the Help menu.
Select Send Feedback Online and click Product Suggestion.
Select a feedback type and then enter your comments.
When you're done, click Send Feedback.

In the meantime, you'll want to consider visiting our QuickBooks App Market to find a third-party loan management application that best suit your business needs. I'm also adding this article to learn how to manually set up accounts for your loans, and manually track them in QBDT: Manually track loans.

If you need more help in accomplishing your other tasks, please don't hesitate to tag me in your comments and posts. I'll be more than happy to assist you again.

S

swsantosAuthor

Thank you for taking the time to answer but reverting back to QB2019, however easy that flows off one's keyboard making it sound as if it's actually a viable alternative as if keeping an old version installed on my computer just for this purpose which has no ongoing connection to the live current data, is so laughably unworkable it is astounding to me that that is actually out there as a "workaround".

Removing such a useful feature critically necessary for so many, because of course if loans are actually part of routine business and they have to be managed, is such an egregious we-don't-give-a-crap move on Intuit's part that it leaves me speechless and angry.

QBs costs have now tripled by virtue of the subscription model while useful very commonly needed functionality is being dropped. Shame on Intuit.

I am now actively seeking an alternatrive to QB because I have lost confidence in the product and how it might further devolve in the future.

D

ddbutler

I agree. I depended on the loan manager to track my payments. To take it away and not give an alternate way to track is wrong

A

awsmith

I agree totally! Intuit has failed it's core users for profit. I do not have an issue as much with the subscription, but to degrade to product is unacceptable. I too will look for an alternate to replace QB if they do not wake up and fix their misguided alienation of their customers.

BTW-I do not know a CPA that is pleased with their changes. Everyone I know say the online QB is a joke, and was obviously purchased from a third party vendor that has tried to imitate QB Desktop. Intuit has lost their way, and will soon lose all their customers.

H

hcarley

My accountant HATES QBO. But like yourself, I'll be looking for alternatives. I keep hearing about NetSuite plan to look into it!

A

AdamJ123

This will be the last year I use Quickbooks. All you do is take away features and benefits and push an annual renewal process with zero added benefit. I used to like QB, now it is becoming a liability to my business. Forcing people to move to 64 bits with no added benefit. Ridiculous!!

A

Amanda-KS

So, let me get this straight... I am going to have to create an amortization schedule for every loan and then refer to said amortization schedules to enter all my loans for payment into AP for every company. I'm going to create spreadsheets to calculate simple accounting transactional data to enter into my accounting system? This is absolutely ridiculous. Who the hell makes these decisions and are they held accountable for their terrible decisions? I need a reduction in premium because this change, along with other problems with Quickbooks Enterprise (their top business solution) is definitely eroding in value to quickly, efficiently get writeup work done.

What other software is everyone else considering as a QB Enterprise replacement?

JessT

Thank you for jumping in, Amanda.

I would recommend contacting our QB Desktop Support. This way, they use a screen-sharing tool so you can discuss the features of the Loan manager while you're on the same page.

Open QuickBooks.
Go to Help, then select QuickBooks Desktop Help.
Select Contact Us.
Give a brief description of your issue, then select Let's talk, and then choose a way to connect.

If you have any other concerns, you can always go back to this thread.

A

Amanda-KS

The support person is who told me why I couldn't open Loan Manager. There is nothing for them to solve when the issue is that Quickbooks doesn't offer loan manager. I described what we have to do because of the blanket killing of this feature without notice.

M

mteitelman

I can't even seem to access the account the loan was setup under in my COAs. I can't post any transaction to the specific loan to clear it. Does anyone know how I might get a loan that was setup in loan manager off the Balance Sheet?

R

RCV

Let me help you with your loan manager concern, mteitelman.

The account loan is set up as a liability account in the Chart of Accounts. Here’s how to look for that liability account for your loan:

Go to the Lists menu, then select Chart of Accounts.
The ate two right account types for your loan:

Other Current Liability: Use this for short-term loans payable over one year.
Long Term Liability: Use this for long-term loans payable over a longer period.

Once you locate it, press Save & Close.

To record and track loans, we'll need to go to the Banking menu and select Loan Manager. Then, tap Add a Loan. For the steps and details, check out this article: QuickBooks Loan Manager. Then, proceed to Step 2: Record and track your loans section.

If you are referring to a balance sheet out of balance due to the loan manager, we can run the report on an Accrual basis. Here's how:

From the Reports menu, select Company & Financial and then Balance Sheet Summary.
Select Customize Report.
On the Display tab, choose Accrual under Report Basis.
Press OK.

If your balance sheet is out of balance on an accrual basis, we can rebuild your company file first. If it's out of balance on a cash basis only, or if it's still out of balance after a rebuild, just proceed to Step @ in this article to troubleshoot the issue: Fix a Balance Sheet that's out of balance.

Additionally, you can bookmark our QBDT Help Articles for your future reference. This website contains various topics on how to manage your account.

If you have other concerns about QuickBooks, please let me know. I'll listen and support you. Take care.

M

mindore

@RCV wrote:
To record and track loans, we'll need to go to the Banking menu and select Loan Manager. Then, tap Add a Loan. For the steps and details, check out this article: QuickBooks Loan Manager. Then, proceed to Step 2: Record and track your loans section.

This is a joke, right? Your company removed Loan Manager from QuickBooks 2022, which is what this whole thread is about.

S

SonomaNow

Just renewed the costly annual subscription last month. Forced upgrade today. Loan Manager is vapor. Unbelievable that such simple but valuable functionality is simply removed. Shockingly poor treatment of existing customers.

Jen_D

Thanks for sharing your feedback with us about the Loan Manager feature, @SonomaNow.

With the launch of QuickBooks Desktop 2022 and Enterprise 22.0, you’ll notice that this feature is no longer available.

Transactions like principal repayment and interest expense are no longer automated. You’ll need to manually enter them in QuickBooks Desktop 2022. You may need to know the principal and interest components for each payment. Refer to the amortization schedule provided by the lender.

If you’re unable to obtain the schedule, find an amortization calculator online. You can also refer to an accountant to help record your entries in QuickBooks.

In the meantime, you can find loan manager apps from our app website. You can visit this link: https://desktop.apps.com/home

Please post here again if you need assistance with recording or handling your loans in QuickBooks. I'll be more than happy to help.

A

awsmith

Jen

Once again your response is shallow and reflective of Intuits lack of concern for it customers. It is like you and your service team are wearing corporate blinders to the needs of those who use QB. The response should be that engineering is working on the issue to put loan manager back in QB and are VERY sorry for the oversight in not including it in QB2022.

Allen

N

nhurley

I had to upgrade to QB Desktop 2022 because my version was no longer going to be supported.

I am very upset that the Loan Manager is no longer available. This is UNACCEPTABLE. I had a business loan and car loan that I was tracking and paying with QB. How can you get rid of this feature with no replacement option? Suggesting a 3rd party software is inconsiderate, especially with the cost of the most recent QB upgrade.

Also gone is the ability to import TRANSACTIONS via a txt file. Why do upgrades take away features?

It would be nice to see these added back in the next software update.

B

bvj

It doesn't look like LM will be added back into QB. I watched a video preview of 2023 and noticed the Bank menu didn't have a LM entry. Figured this would be the case. But if I'm wrong, ignore this post.

I plan to roll my own LM solution by the end of this year, 2022. I've already verified the ability to programmatically create bills that include the Long Term principle and interest breakdowns. Basically, I can reproduce what the QB 2021 LM does in terms of creating bills. Ultimately, an amortization schedule with various parameters will be included.

I'm posting this message for one reason only: that is to help alleviate the stress we're all feeling with the removal of LM. And notwithstanding the unexpected, I'm serious about a solution by the end of the year. I'll be using the QB SDK, so the experience will be similar to the way TurboTax interacts with QB.

I'll occasionally check back on this thread no later than Q1 2023 should there be any questions.

BTW, I made the jump to 2022 in August. But before that, I generated the loan bills for the remainder of the year using the 2021 LM.

S

SIPCO

Quickbooks is "quickly" going downhill...

T

tk93706

In addition to Loan Manager, Scan Manager was also eliminated. We previously scanned our invoices and attached them to our payments. Now we have to scan and save the file, then attach it from the computer, instead of just scanning directly. Between these two changes, the time in cost and money is really going to hurt, as well as just being a huge annoyance.

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