It took a little tinkering, but I finally hit upon the perfect way to integrate Prosper (or LendingClub or …) with Quicken (or Money or …) given the current lack of integration between the services (see here if interested.)
Since implementing that solution I have had defaulted debt sold.
With enough experience behind me I thought that a comparison of the Quicken and Prosper accounting differences and the implication on ROI.
Quicken enters the money into the account the moment the money leaves my bank account and it only acknowledges interest after it has been paid. Prosper only counts money in loans and acknowledges interest the moment it is accrued. Both acknowledge default sale amounts the moment they happen. Neither approach attempt to project a future loan’s value.
What does this mean? Well it means that with Quicken you can get the ROI for the moment the money enters the account with interest only for actual payments received. With Prosper you get the ROI for the loans with all accrued interest. Since you can only deduct defaulted principal (cash basis) I feel that Quicken’s approach is correct.
That being said let’s compare ROI values for my account… Other than the gap the curves are remarkably similar. I am interested to see what the rumored December debt sale looks like.
Related Posts -
Accounting for Prosper in Quicken Strategy Update? Yesterday I received a comment from a reader: Question: would the principal repayment be considered a âreturn of capital?â as opposed to a sale? What are the implications of using one category over the other? Iâve taken a look at the irs (a search on the phrase returned numerous results)...... -
Prosper Ordered to Cease and Desist by SEC http://www.sec.gov/litigation/admin/2008/33-8984.pdf It appears to me that the ruling is that they have been selling unregistered securities without a license.  What does that mean for the lenders?  Doesn't the board and company officers have some personal liability too? There is some discussion at prospers.org: http://www.prospers.org/forum/prosper_order_to_cease_and_desist_by_sec-t10903.0.html No one seems sure just yet... SEC: UNITED...... -
Quicken Updated My Prosper Account YTD ROI -- 12.78% for account, 14.72% for Loans I updated my Quicken Prosper.com brokerage account per yesterday's post: http://www.rateladder.com/2007/04/10/adam-nash-merged-with-rateladder-to-form-the-ideal-quicken-solution-without-prosper-integration/ The one things that is even easier is that if you use your monthly statement you don't need to enter a fee transaction... However, I also used my account history to update my account for March... I plan on...... -
How Much Money has Prosper Made on My Lending Activities? I was just logging into to Prosper to check on the status of my transfer (it made it)... and I was struck by how little money Prosper is making from my perspective. In my 8 months of lending they have collected from me $2.38 in fees. I have had $283.53 in...... -
Everyday People -- Shining Example of Prosper Group Here is a current listing from EveryDay People. This listing has an excellent chance of funding. In addition, Everyday People's Group Leader StaciM has also endorsed AND BID on the listing. (Personally I think an endorsement without a bid is meaningless... kudos StaciM). The reason StaciM can bid with confidence......
Related Websites -
With Winter Coming And Money Tight, Consider Sharing Tools This Year. So, the snow storms are about to start but your snow blower has decided that last winter was more than enough - and gave up. No matter what, the thing is broken and ready for the recycling bin. What to do? You can always head out to Home Depot or...... -
Making Money With Your Credit Card: How It’s Done and What the Risks are If youâve always paid your bills on time, maybe have a credit card, a student loan and a car payment, chances are you have pretty decent credit unless you did something to mess it up in the past. One of the advantages of having a strong credit rating is that...... -
Debt and the Holidays A lot of people make use of their credit cards when shopping for the holiday season on the premise that they are going to pay all of the newly formed debt off within only two or three months time. Unfortunately, most people are still trying to tackle these credit card...... -
Very Interesting Documentary There's a very interesting documentary on Google Video - The Money Masters.It traces the history of money in America and how the Fed is screwing the American people. Incredibly interesting. Its 2 hours long but worth it. It explains how the standard of living has decreased in the past 25...... -
Don't Let Money Ruin Your Marriage! You found that perfect person who completes you that you want to spend the rest of your life with. Now you are getting married! It's a big step and will be one of the biggest days of your life. Sharing your life with someone is a wonderful, intimate experience.......
- Cash Registers Banks, Registers Vending Collectibles
- Principal Secret Anti-Aging Products Skin Care Store
Categories:
Prosper.com, Quicken, Statistics, Strategy, Tools
Tags:
azerbaijan, mozambique
Useful Info:
Getting a mortgage loan depends on your property. A mortgage calculator can make it easy to calculate your payments. Getting 1st mortgage is a low risk investment. Tips to get great rates for buy to let mortgages can be found on this site. Find easy ways to help educate yourself with the help of student loans. A personal loan can facilitate your on campus accommodation expenses. An unsecured loan like a personal loan, requires no collateral.
0 comments ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment