#1Dave on 01.16.07 at 9:47 am
My solution is to have a “Prosper.com Cash” investment account, and a “Prosper.com Principal” asset account. Once a month I balance them out so the Principal account matches my total loans principal balance, and the Cash account matches my cash balance. This can be easily tracked through up to 2 transactions a month in the cash account. One is a transfer from Cash to Principal representing any new loans. A second is for increases in cash balance, with split categories between principal (transfer in from principal account), interest, and bank fees.
It’s a bit more complicated then what you have above, but then you can keep track of the non-cash principal balance and what your paying in fees. Also, it shouldn’t matter how many loans you have, it’s still 2 transactions a month.
#2Kevinon 01.17.07 at 8:31 am
That is interesting. I played around with it for a couple of days… Here are my thoughts…
It doesn’t solve my main grip which is tracking my Gain/Loss and ROI.
You are quite clear about your pros, but I think there is at least one con to having your Prosper account split into two accounts. What is your current balance? You have to add to accounts.
Given I cant get my prosper tax info from quicken and that I will be going to prosper regularly to check on loans and payments and such. Seeing my fees on the website is adequate.
My one umbrella account has fess handled as I only deposit realized interest which by definition has fees removed.
I think the issue and dilemmas we are both coming to grips with need to be addressed by quicken and prosper.
#3Adam Nashon 04.09.07 at 10:06 pm
I thought it would be good to post my Quicken solution, which is based on having a separate security for each Prosper loan. See my post here.
I totally agree it would be better for Prosper to support downloadable transactions, or at least, an export to Quicken that we could use.
#4Psychohistory How to Track Prosper Loans in Quicken 2007 (Mac OS X) «on 04.09.07 at 10:09 pm
[…] Update (4/10/2007): RateLadder.com has their own solution… not as accurate as the one above, but worth linking to. I agree with them that it would be better for Prosper to offer a Quicken-compatible download format. Posted in Personal Finance, E-Commerce, Economics. […]
#5RateLadder.comon 04.10.07 at 6:24 am
[…] I think a hybrid of his approach and mine (simplified cashflows only: http://www.rateladder.com/2006/12/31/prospercom-and-quicken-the-workable-solution-for-playmates-that-dont-get-along/) would work great and be manageable… Here is my proposal merge my existing approach with his… (I haven’t tried this yet, but I think it will work great.) […]
#6btpworldwide on 12.06.07 at 8:15 pm
I share your frustration as how to accurately keep track of my Prosper portfolio thru Quicken. I am using Quicken Premiere ‘08 and it includes a Home and Business free 60 day trial that I’m using. Through that, I’ve started an “Accounts Receivable” acct where I create an invoice for each loan I fund and a Business spending (cash) acct to track everything from Prosper in my Quicken Biz Acct. I’m still experimenting with this to see what works better and open to new ideas. This is all Terra-Incognita for me.
#7Deborah G.on 02.15.08 at 11:12 am
“My mother said to me, “If you are a soldier, you will become a general. If you are a monk, you will become the Pope.” Instead, I was a painter, and became Picasso.”