"Declining balance" bill?

WITHOUT setting this up as a liability account, is there a way to set up a (medical) bill where I have to pay $100 monthly on a starting balance of 622.81 and the reminder will prompt me when the final payment is $22.81 and will stop reminding me when I've paid it in full?
1
1 votes

New · Last Updated

Comments

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    It seems like you could set up two reminders.  The first monthly reminder would cease functioning after 6 months because you'd sent the "End date" appropriately.  The second reminder would have only one "event" 7 months in the future with an end date one day after that.  The second reminder could be a "yearly" event.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Why do you want to NOT set up a liability account?  This $622.81 IS money that you owe (i.e., a Liability) ...  just as a credit card is money that you owe.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    I wouldn't create an account for something that will go away in 6 months. Accounts are forever. I would create the 2 reminders as @Tom Young suggested.
    The final reminder can be an "Only once" reminder. No need to make it yearly.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited December 2020
    It's a question of how accurate the OP wants the records in Q to be.
    I re-financed my mortgage in October, and I'm refinancing again because the rate dropped another 5/8 of a point.
    I have also, in the past closed credit card transactions in the past after a very short period, as the cards Terms of Use changed, and it was no longer beneficial for me to keep it..
    BUT, in all of my cases, the objective was to keep my financial records accurate.  Any user can hide an account that's no longer used ... OR this same account can be reused for other "Payables" type items, including future medical bill.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • EmKay
    EmKay Member ✭✭✭
    edited December 2020
    I guess I want this to be a "feature request, " to Quicken. Do we have a way to request things like this? I won't do the liability account because, for our healthcare, our [Removed] hospital system sets up multiple accounts for multiple people in the family and multiple facilities -- so it's all separate accounts. Too much overhead, for me. The multiple reminders can work, sure, but it seems like this should be a pretty common thing - I have an installment payment plan for a bill I owe, but the equal installments will leave one "weird" payment at the end. Let me enter the total amount I owe, the frequency, the amount they expect me to pay each time and, when I reach the point where my payment will be > my remaining balance, let that remaining balance be the final reminder.
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Hello @EmKay

    Thank you for taking the time to visit the Community to post your question, although I apologize that this feature isn't currently offered.

    I have changed your post to an idea so that others may vote on this feature. Be sure to navigate to the top of this post and click the up arrow to add your vote!


    When Ideas have gained enough traction, they are reviewed by our development team for future consideration.

    Thank you,

    -Quicken Tyka

    ~~~***~~~