Estimated Bill Payments - is there a way to have them update regularly?

I mistakenly posted this wrongly earlier, so I'll try it again:

In Bill Reminders, there's an option to "estimate from last 3 payments". This calculates and works great when I first make the bill reminder. After using it for a while though, it does not update from the most recent 3 payments - it stays at the amount calculated initially. Is there a setting I am missing or something I'm doing wrong?

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Answers

  • tvieceli
    tvieceli Member
    I have a similar problem: I would LOVE to see the "Estimate From Last 3 Payments" continuously update as the payments are made through Quicken. If it's supposed to update, mine does not.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    AFAIK, the estimated amount recalculates as you record a new payment from this reminder.
    If you are looking at future reminder instances, the last used estimate is carried forward. Quicken does not know about what's might be happening in the future, so it cannot guess.
    BTW, are you paying this reminder from the same account every time? Or are you paying from varying accounts? The latter may disrupt how the estimate is calculated (but only a programmer could verify and confirm the exact process used here)
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Note if you have connected the reminder to an online bill, that stops Quicken from doing any estimating.
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I don't think you are missing anything.  I have notice such behavior from Quicken in the past.  I think it is a bug.  Frankly I don't keep track of it enough to definitely prove it or such, but it does seem to me that I remember it not working so great.
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  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    @tvieceli do you Enter the reminder to create the payment each time? It is Entering the reminder that updates the estimate. 

    Quicken user since Q1999. Currently using QW2017.
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  • tvieceli
    tvieceli Member
    Yes. I use my reminders to help budget my coming paychecks, so they automatically come up in my register so I can pay. I adjust the amount and date and enter. Could adjusting the date be messing up the program?
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I don't think the changing of the date matters based on what I just found.

    I decided to try this out a bit in a test data file, and found that it doesn't work the way I originally thought it did, but it actually make sense of what they did.

    One would expect that it looks at the last X reminder payments and does the calculation.  It doesn't.  What it does is a query for that payee and finds the last X transactions for it, and uses that for the calculation.  Which makes sense, to tie it directly to the reminder entry would mean somehow saving that information and keeping it up to date and such.  Instead a database query requires no special saving of what reminders got entered.

    Here what happened to me.  First I needed to get three transactions in for using 3 in the estimate, so I just created a reminder for a payee I already had, Arby's.  And it defaulted to $10.58 from some past use.  I set the amount to $11 and the date to 1/6/2020, once a month, just to make it easy to calculate.  So I entered three of the reminders and went to do the estimate, and it gave me an estimate of $10.86!

    The three $11 transactions were the only the Arby's transactions in that savings account.  Then I realized in the checking account had the original payment that I started with to create the reminder and it was 6/24/2020 for 10.58.  ($11 + $11 + $10.58) / 3 = $10.86 .

    So it doesn't care that the transaction is entered by a reminder or not, and it doesn't care what account the transaction is in.  It does a query for the payee takes the last X amount of them and does an average.

    This doesn't explain "no changing", which I know I have seen in the past, but at least it gives more insight on how it is doing this.
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  • tvieceli
    tvieceli Member
    Thank you very much for the research and help. I couldn't ask for more.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    @tvieceli I just wish I would have been able to reproduce the "not updating" problem directly and pin down exactly why such would happen.  The problem with this is like you said in your original post that you can use it for a time and then it stops working.  There isn't really any way for me to test/reproduce that with such a small test (not done over time).
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  • YingDave
    YingDave Member ✭✭✭✭
    edited July 2020
    I thought it was just me. I have a repeating reminder to estimate to enter the interest I expect to pay on my Equity line of credit. Many years ago I had it set as a fixed rate, over $1000. Now routinely interest comes in at around $208. I also had it set at calculate of last 3, it would appear in the dialog when changing it correctly at $208.56 (# days of the month vary). When you close the dialog it went back to original $1000 just like @Chris_QPW described. I am in such a habit of manually changing it in the register for years I hadn't really noticed the problem. I only looked at it recently as I am trying the to make the account balance projections more accurate.

    Same thing happens when I enter my credit card payment as estimate, calculates correctly in the dialog after you hit 'Change' then adjusts the amount in the dialog, then you hit 'Done'. You get the blue spinning circle for a while but then the amount for the bill does not update!

    From what I see it is a bug.
  • YingDave
    YingDave Member ✭✭✭✭
    edited July 2020
    I have just been back in the Bill Reminders section and changed a couple I have for Electricity and Gas to "time of year" seasonal (which I have never used until now) - and they do update the estimated amount. So some odd is definitely going on.

    I went looking to see if it was picking up a memorised payee and overriding it. This HEF/LOC payment is not set up as a mortgage or anything. Not that... I changed my LOC interest item above to fixed $208, saved. Then I edited again back to estimate - save again. Quicken comes up with $1001.35. Go back into the dialog and hit change on amount current estimate becomes $210.59, save, done, back to $1001.35 again!
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