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If a loan payment occurs regularly, you can set it up as a scheduled payment. When you do so, Quicken automatically records the payment for you based on a schedule.
Follow these steps to set up such a scheduled transaction:
Choose Cash Flow, Calendar or press Ctrl+K. Display the first month for which you want to schedule the transaction. Identify the scheduled transaction and date.
Note: If you can't see the list of transactions along the right edge of the Calendar window, click Options, Memorized Transactions List.
Identify the account from which the payment should be made. Verify that the transaction type is Payment. Verify that the Payee, Date, and Memo fields are correct. Use the Scheduled Transaction and the Register Transaction option buttons to indicate how often the scheduled transaction should occur. Tell Quicken whether you want to double-check the scheduled transaction before it actually gets entered in the register.
Doing so is easy. Just open the Enter in Register drop-down list box and select the Prompt before Enter choice.
Indicate the number of days in advance you want to be reminded of the scheduled payment. 10. Click OK.
Quicken adds the transaction to its scheduled transaction list.
Quicken takes the Paul Masson approach to finance — it will enter no transaction before its time. So when the time is right (meaning next month on the scheduled date) Quicken enters the transaction automatically. Furthermore, Quicken enters the transaction automatically each month until you tell it to stop.
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