How to Schedule a Bill Payment in Quicken 2013 - dummies

How to Schedule a Bill Payment in Quicken 2013

By Stephen L. Nelson

If a payment occurs regularly — the payment might be for a loan or some other regular bill, like your cable TV service — you can tell Quicken 2013 to remind you about the payment, or you can set it up as a scheduled payment. When you do so, Quicken either reminds you or automatically records the payment for you based on a schedule.

Follow these steps to set up such a reminder or scheduled transaction:

1Display the Calendar window.

To display the Quicken Calendar window, you can press Ctrl+K. Or, you can choose the Tools→Calendar command. Either way, Quicken displays the Calendar window. The figure shows a calendar for the current month and, optionally, a list of memorized payees.

If you can’t see the list of transactions along the right edge in the Calendar window, click the Options button and then choose the Show Memorized Payees List command from the menu Quicken displays. By dragging payees from the list to the Calendar, you add transactions to the register one at a time, using previously recorded transactions.

2Display the first month for which you want to schedule the transaction.

Using the left-arrow and right-arrow buttons, select the starting month for the reminder or scheduled transaction. You can also enter a date into the Go to Date box and click the Go button. Quicken displays the month you want to schedule a payment for inside the Calendar window.

3Click the Add Reminder button and choose Bill Reminder from the menu.

Quicken displays the first Add Bill Reminder dialog box, which you use to enter the payee name. You can also click the button at the right end of the Pay To box to drop down a list of previous payees and then select one.

4Use the second Add Bill Reminder dialog box to describe the recurring payment.

Click Next to continue from the first Add Bill Reminder dialog box to the second Add a Bill Reminder dialog box, which you’ll use to describe the recurring payment.

5Verify that the Pay To and Amount Due fields are correct.

They probably are. Quicken uses the last payment amount to the payee as the suggested amount due, by the way.

6Check the payment scheduling stuff.

Verify that the Due Next On text box and labeling show the correct date for the first payment. If Quicken doesn’t show the current due date, click the button that shows a picture of a stubby little pencil to display a pop-up box with boxes that let you specify how often the payment should be made, which day of, say, the month the payment is due, and the date payments should stop.

7Identify how the payment should be made.

Open the From Account drop-down list box and then select the appropriate account.

8Categorize, tag, and bag.

If you’re scheduling a reminder for a transaction you’ve already correctly recorded once, the Category, Tag, and Memo fields should show the correct information. You should still check them, however. You don’t want to have Quicken copy some old error you made.

Note that the Tag field only appears if you’ve enabled the Show Tag Field option in the Register section of the Quicken Preferences window. Quicken opens text boxes to make changes to the Category, Tag, and Memo fields when you click.

9Click Done.

Quicken adds the payee’s transaction to the Calendar.