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Quicken Bill Pay Check returned to me by payee - now what

  
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Subject Author Date
Quicken Bill Pay Check returned to me by payee - now what Marc Auslander 12-14-2006
Posted by Marc Auslander on December 14, 2006, 11:59 am
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 A payee who had billed me in error mailed the uncashed bill pay check
back to me.

My account has direct connect download of transactions from my
Wachovia checking account, and Quicken bill pay to write checks. I use
automatic reconcile.

So now I have a check in my register and in Quicken bill pay that will
never clear. I'm afraid to flail around trying to get rid of it since
it seems Quicken is capable of getting totally confused if you do the
wrong thing.

Can anyone advise me on the correct way to deal with this?

I can think of two possibilities.

1. Delete the transaction. (I can't cancel it). I don't know if that
will work, and don't know what will happen when I synchronize with
Quicken bill pay after the delete.

2. Manually reconcile that transaction and enter and manually
reconcile a compensating deposit. I don't know what will happen
to my auto-reconcile if I manually reconcile a transaction.


--

Posted by Martin Kovacs on December 14, 2006, 3:06 pm
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 Marc Auslander wrote:
> A payee who had billed me in error mailed the uncashed bill pay check
> back to me.
>
> My account has direct connect download of transactions from my
> Wachovia checking account, and Quicken bill pay to write checks. I use
> automatic reconcile.
>
> So now I have a check in my register and in Quicken bill pay that will
> never clear. I'm afraid to flail around trying to get rid of it since
> it seems Quicken is capable of getting totally confused if you do the
> wrong thing.
>
> Can anyone advise me on the correct way to deal with this?
>
> I can think of two possibilities.
>
> 1. Delete the transaction. (I can't cancel it). I don't know if that
> will work, and don't know what will happen when I synchronize with
> Quicken bill pay after the delete.
>
> 2. Manually reconcile that transaction and enter and manually
> reconcile a compensating deposit. I don't know what will happen
> to my auto-reconcile if I manually reconcile a transaction.
>
>
I use Quicken bill pay and when they pay a bill by check it is actually
a check that is drawn on your checking account (with your banks routing
number and your account number). I presume that is
your case here. (rather then an electronic transfer). You can't cancel
the payment because there is no way for the Service to get the check
back. If this is the case you can just delete the check (like it was
never written). You may want to zero the balance and mark it void with a
memo as to what it was for etc. The check will have a Bill Pay number,
just mark the transaction as cleared and then when you balance the check
book mark as reconciled.

My understanding is that once Quicken Bill Pay sends the check they
are out of the loop as far as the payment goes. My experience confirms
this.
If a payment was via my checking account (with a paper check) when I
called the bill pay service they said there wasn't much they could do to
resolve the problem. The only thing they could do was confirm the check
was mailed. I had to work with the creditor to get the problem resolved
which meant I had to get a copy of the canceled check to show the
creditor. This only happened a couple of times in over 20 years.

For electronic payments the story was different. The service took
an active role in getting the problem resolved. As with the paper
checks having this sort of problem was rare.

Hope this helps
Marty

Posted by DP on December 15, 2006, 1:57 am
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> Marc Auslander wrote:
>>
>>
> I use Quicken bill pay and when they pay a bill by check it is actually a
> check that is drawn on your checking account (with your banks routing
> number and your account number). I presume that is
> your case here. (rather then an electronic transfer). You can't cancel the
> payment because there is no way for the Service to get the check back. If
> this is the case you can just delete the check (like it was never
> written). You may want to zero the balance and mark it void with a memo as
> to what it was for etc. The check will have a Bill Pay number, just mark
> the transaction as cleared and then when you balance the check book mark
> as reconciled.
>
> My understanding is that once Quicken Bill Pay sends the check they
> are out of the loop as far as the payment goes. My experience confirms
> this.


Doesn't this mean that the OP has to have his bank cancel the check somehow?
The check has already been deducted from his account even though if it was
never cashed, right? The OP could tear up the check, but the money is still
already drawn out of his account, right?
In other words, even though Quicken bill pay is out of the picture, and the
person the check was written TO is out of the picture, the money has still
been taken out of your account and it's your BANK that has to take an action
to put the money back into your account.
I realize the question was how do you get Quicken to recognize what has
happened. But I wanted to make the additional point that you need to have
your bank realize that check will never be cashed.









Posted by Martin Kovacs on December 15, 2006, 10:23 am
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DP wrote:
>> Marc Auslander wrote:
>>>
>> I use Quicken bill pay and when they pay a bill by check it is actually a
>> check that is drawn on your checking account (with your banks routing
>> number and your account number). I presume that is
>> your case here. (rather then an electronic transfer). You can't cancel the
>> payment because there is no way for the Service to get the check back. If
>> this is the case you can just delete the check (like it was never
>> written). You may want to zero the balance and mark it void with a memo as
>> to what it was for etc. The check will have a Bill Pay number, just mark
>> the transaction as cleared and then when you balance the check book mark
>> as reconciled.
>>
>> My understanding is that once Quicken Bill Pay sends the check they
>> are out of the loop as far as the payment goes. My experience confirms
>> this.
>
>
> Doesn't this mean that the OP has to have his bank cancel the check somehow?
> The check has already been deducted from his account even though if it was
> never cashed, right? The OP could tear up the check, but the money is still
> already drawn out of his account, right?
> In other words, even though Quicken bill pay is out of the picture, and the
> person the check was written TO is out of the picture, the money has still
> been taken out of your account and it's your BANK that has to take an action
> to put the money back into your account.
> I realize the question was how do you get Quicken to recognize what has
> happened. But I wanted to make the additional point that you need to have
> your bank realize that check will never be cashed.
>
>
>
>
>
>
>
>
Yes but Marc stated the uncashed check was returned to him by the payee
so it was never presented to the bank for payment. As far as the bank
is concerned no check was written.

Marty

Posted by John Pollard on December 15, 2006, 11:05 am
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>
> "Martin Kovacs"

>> I use Quicken bill pay and when they pay a bill by check it
>> is actually a check that is drawn on your checking account
>> (with your banks routing number and your account number). I
>> presume that is
>> your case here. (rather then an electronic transfer). You
>> can't cancel the payment because there is no way for the
>> Service to get the check back. If this is the case you can
>> just delete the check (like it was never written). You may
>> want to zero the balance and mark it void with a memo as to
>> what it was for etc. The check will have a Bill Pay number,
>> just mark the transaction as cleared and then when you
>> balance the check book mark as reconciled.
>>
>> My understanding is that once Quicken Bill Pay sends the
>> check they
>> are out of the loop as far as the payment goes. My
>> experience confirms this.

> Doesn't this mean that the OP has to have his bank cancel the
> check somehow? The check has already been deducted from his
> account even though if it was never cashed, right?

Not if it worked as Martin says it does. The check was "drawn"
(written) on the op's account by Quicken BillPay, but never
*cashed* by the payee. Should be no difference between that and
you writing a check which the payee returns to you uncashed.
The bank doesn't know this check was written.

> The OP could tear up the check, but the money is still already
> drawn out of his account, right?
> In other words, even though Quicken bill pay is out of the
> picture, and the person the check was written TO is out of the
> picture, the money has still been taken out of your account
> and it's your BANK that has to take an action to put the money
> back into your account.
> I realize the question was how do you get Quicken to recognize
> what has happened. But I wanted to make the additional point
> that you need to have your bank realize that check will never
> be cashed.



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