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Posted by jaygreg on May 29, 2008, 6:06 pm
Please log in for more thread options Beautiful! Thanks, John.
> jaygreg wrote:
>> I'm using Q2007HB. I set up my Medicare premiums to be deducted from
>> my checking automatically (non-business entry). To mark the event, I
>> wrote a "scheduled transaction" as a reminder to expect an electronic
>> entry and to physically make the entry in my check book. When the
>> deduction is actually made by Uncle Sam, I simply accept the
>> transaction in Quicken from the bank then go to the scheduled
>> transaction in that part of the register and select "Skip" rather
>> than "Enter" to avoid sending the entry to my bank and creating a
>> duplicate.
>> I'm under the impression that if I had entered the Medicare
>> transaction from the "scheduled transaction" section by pressing
>> "Enter", I would be forced to either send an electronic entry to my
>> bank, thus, creating a duplicate or I would have to enter a check
>> number. Obviously, I haven't been brave enough to test either.
>>
>> Am I handling this correctly?
>
> "Correctly" is probably not the "correct" term; but I don't think you
> understand the alternative correctly.
>
> I assume you're talking about your medicare insurance premiums, which are
> the same each month (until a new year rolls around).
>
> You can set that up as a Scheduled Transaction to be entered into your
> checking account register "automatically" by Quicken, on, or before, the
> day the actual transaction will clear your bank. Then when you download
> the actual transaction, it will "Match" the transaction already in your
> Quicken register and not create a new transaction when you Accept it.
>
> If the amount being deducted from your checking account differed each
> month, the change you should make to the above procedure would be to have
> Quicken "remind" you to Enter the transaction. Then when the actual
> transaction has cleared the bank, and you see it in the "Accept
> transactions into register" window in Quicken ... you would: note the
> amount, switch to the "Scheduled Bills & Deposits" tab at the foot of your
> register, select the Scheduled Transaction, click "Enter", modify the
> amount to agree with the downloaded amount, and Enter the scheduled
> transaction. Then switch back to the "Downloaded Transactions" tab, where
> you would see that the downloaded transaction status had changed from
> "New" to "Match" and you could Accept the transaction.
>
> At no time in this process would you be sending anything to your bank, nor
> would any check number be required. When you setup the Scheduled
> Transaction, you tell Quicken the payment "Method" is "Payment"; NOT
> "Printed Check" and NOT "Online Payment from Quicken" ... thus nothing is
> transmitted to your bank and no check number is involved.
>
> --
>
> John Pollard
> First initial underscore Last name at mchsi dot com
> Please reply to newsgroup
>
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