Quicken 2013 or 2014: Online Account Access and Online Bill Payment
To begin using either the Online Account Access or the Online Bill Payment service with Quicken 2013 or 2014, you have to sign up. If you want to use Online Account Access, you sign up with your bank. Just visit your bank’s website or call your local branch and ask someone whether the bank supports Online Account Access with Quicken.
(If your bank doesn’t support Online Account Access, you can still sign up with Intuit for Online Bill Payment — choose Tools→Quicken Bill Pay→Learn About Quicken Bill Pay for details.) Then do whatever the folks at the bank tell you to do to sign up.
You’ll probably have to fill out an application, agree to pay some extra fees, and then wait a few days for a customer identification number and a PIN, or personal identification number.
After the bank does its preparation and sends you its welcome letter, you can set up Quicken for Online Account Access. To set up Quicken to use Online Account Access or Online Bill Payment services, display the account for which you want to activate online services. You can do this, for example, by following these steps:
Click the account’s hyperlink on the Accounts bar.
Tell Quicken you want to set up online banking or bill payment.
Click the Actions button and choose the Set Up Online command. Quicken begins asking for information about the account (such as the name of the bank), and it may display an Account Setup dialog box that asks which version of your bank’s online banking service you’re already set up to use. You answer the questions Quicken asks. Then you click Next.
When Quicken displays the Quicken Account Setup dialog box that asks for your login information, supply your customer identification number and PIN.
Your bank or the Quicken folks may, as part of the application process, send you a letter asking for more information, a canceled check, or a signature. (If they do, of course, be sure to respond.)
Using Online Account Access and Online Bill Payment is extremely easy. You pay bills in pretty much the usual manner. You make account transfers in the same manner. And then you reconcile transactions with a mouse click.
Finding an online bank — online
You can determine which banks support Online Account Access by using your Internet connection. To do so, open your web browser and then enter the following web address into the browser’s address bar:
Enter the first part of the bank’s name into the text box provided. You need to enter the exact name, including any punctuation.
You have three ways to record online payments. If you’re comfortable using the Write Checks window, you write a check in the usual way. You enter the payee name, an amount, probably a category, and so on. Just make sure that you select the Online Payment check box.
The Online Payment check box appears in the lower-right corner of the onscreen check form after you set up online banking for the account.
If you’re more comfortable using the register to record payments, you can make online payments with that. In the Num column, just specify the payment number as Send.
The first time you make an online payment to someone, Quicken asks for some information in the Set Up Online Payee dialog box: where the person lives or where the business is located, and what account number Quicken can use to identify you or your business to the person or business you pay.
You can also describe online payees by choosing Tools→Online Payee List, which displays a list of online payees. Then click the New button, which displays the Set Up Online Payee dialog box.
After you record a payment, you send it to the bank. To do so, choose the Tools→One Step Update command.
Quicken connects, through the Internet, to your bank’s computer. As part of making this connection, you need to provide a PIN. When Quicken finishes sending your payment instructions to your bank, it displays a summary that basically says you’ve connected to the bank’s computer and sent it some payment instructions. At this point, you’re done.
You can have Quicken regularly update your account information. To do this, choose the Tools→Schedule Updates command and follow the onscreen instructions.
Transferring money between accounts
As you may expect, you record Online Account Access transfers the same way that you record regular transfers — or at least in almost the same way. For online transfers, you can use the register in the normal way, but you need to specify that the transaction is an online transfer. You do this by activating the Num drop-down list box and selecting the Online Transfer entry.
If you have a credit card with a bank that supports Online Account Access and if you also set up the credit card for Online Account Access, you can pay your credit card bill by transferring money from a bank account to your credit card account. You probably already thought of this if you have a credit card account.
Updating your Quicken accounts
One major advantage of Online Account Access is that you can get the most up-to-date information regarding your accounts. When you use the Tools menu’s One Step Update or Schedule Updates command, your bank automatically sends current transactions to your computer. If Quicken can match the bank’s records with your records, no problem. Everything is fine.
If Quicken can’t match the bank records with your records, however, it lists the mystery transactions on the Downloaded Transactions tab of the account register window. You then examine them before they go into your records. You can add downloaded transactions from the bank’s list to your register by clicking the transaction and then the Add to Register button.