Reconciling credit cards for later disbursemments

Virtually all of my credit cards are paid by the bank charging my bank account on a date later than the date the account is reconciled. To set up the payment, I tell the system that I will write a paper check and date it the date the bank plans to charge my account. There should be a selection in "how to pay the credit card account" pick list that says "Date Bank will Debit Bank account". That would set up a disbursement in the checking account while debiting the payable balance in the credit card account.
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    If you don't turn it off there is a prompt for "writing a check" after you reconcile.

    First off the terminology is misleading.  "Hand Written Check" is actually recorded as a transfer from the credit card account to the given account in the dialog.

    The second problem with it is it doesn't allow for the user to enter a date, it always puts it in as the day you reconcile.

    Most people do not pay off their credit cards on the day they reconcile because they have 20 to 30 days to pay that bill.  That dialog show allow for putting in the date.

    Which means that the user has to turn around and edit the transaction that is entered to put in the correct date.
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  • UKR
    UKR SuperUser ✭✭✭✭✭
    I always use a Scheduled Reminder to record the credit card payment on the date that is indicated in the credit card statement as the date they will debit my checking account.
    That, for me, keeps the process independent of the Reconcile process. I do that later, whenever I get a round tuit.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    @UKR that is what I do these days too, but if they are going to have that dialog/feature they should make it clearer of what "Hand Written Check" means (I mean who actually does that in these days) and allow for setting the date before it is put into the register.
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    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
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