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How to get Quicken to ignore a Bill Pay transaction until the check is actually cashed

I use Quicken Bill Pay to pay my rent. It sends a paper check to my landlord at the end of the month, however he doesn't always cash it right away. Quicken registers the check the day it is mailed, so it shows up as essentially cashed when it's sent, so it shows up in spending and in budgets. This is very frustrating as then it will essentially show duplicate rent payments (i.e. in February my landlord cashed February's check on 2/2, and March's was mailed 2/28, so both are showing as paid). This really makes budgeting/spending tracking rather difficult/useless. Has anyone had this issue and know how to resolve it? Thanks!

Comments

  • JustMeHereJustMeHere Member ✭✭✭✭
    In my opinion you should always consider a check that has been sent to be cashed until proven otherwise (and in that case void the check).

    Once the check is sent you have committed to pay it.  If you go with a process that "it isn't spent yet" then that implies that you can still use that money for some other purpose, but you can't without risking being overdrawn.

    Quicken and the current processing is "doing the right thing".  It is telling you that the money has been committed, and when the check actually clears you will get that status when you download the check transaction.

    You shouldn't budget or otherwise plan it differently.
    Using Quicken Subscription Premier (and have a copy of Starter to test things on)
  • JustMeHereJustMeHere Member ✭✭✭✭
    BTW often people come in and ask "Why is my Quicken register balance not the same as what is on my financial institution's website?".

    And this is an example of why it can be different, and both are still right.  The financial institution will not know about the check until it is cashed.  But when done right, the check is entered in Quicken as soon as it is sent/committed.  And so Quicken is given you a more complete view of what "is going to happen" and "what money you really have in your account" to spend.
    Using Quicken Subscription Premier (and have a copy of Starter to test things on)
  • hoddemichoddemic Member
    Thanks for your reply. I completely agree with you that that is the correct way to budget. That's not what I'm questioning here. What's happening is that it's showing up as paid twice. It's showing the cashed check from the previous month (cased 2/2) and the sent check for this month (sent 2/28). I understand that I need to account for my budgeting as though it's already spent, but then in the budgeting tool, it is essentially doubling my rent and saying that I've spent 2x on rent this month. The same thing will then happen next month when my landlord cashes the check mailed on 2/28 on (arbitrarily) 3/3 and then it sends another check on 3/28 - again saying I've paid rent twice in the month...
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