Repeating online payment doesn't match with Bank download

I've been experiencing this issue as of late. Created a recurring mortgage payment at Bank of America. After the one step update, Quicken reflects the payment as a bill due payment i the register and the download also reflects the payment separately, together with the bank check# (ref#). The issue I have is that , 1) my register now reflects 2 amounts for the same date 2) I cannot edit the quicken bill due payment. and3) I cannot match the downloaded payment with the Quicken inserted bill due payment. After speaking to support, we deleted the online payment at the bank and set up the repeating payment through Quicken. Any suggestion on how to sole this issue where only one payment is displayed in the register? My temporary fix is to zero out the downloaded Bank payment. Remember, I cannot edit anything on the Quicken insert bill due payment other than cancelling it, which then lso cancels the payment at the bank.

Best Answer

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited January 23 Accepted Answer
    I suggest using a manual loan account with a loan payment reminder and scheduling a recurring bill payment at the bank.  Use the loan payment reminder to enter the payments (manually or automatically) in the payment register before the bill payment transaction is imported from the bank.  The imported transaction should match the entered payment transaction.

Answers

  • ponks
    ponks Member ✭✭
    One additional note, After setting up the payment through Quicken, I forgot to mention that the results were the same as it was when the recurring payment was set up at the bank.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited January 23 Accepted Answer
    I suggest using a manual loan account with a loan payment reminder and scheduling a recurring bill payment at the bank.  Use the loan payment reminder to enter the payments (manually or automatically) in the payment register before the bill payment transaction is imported from the bank.  The imported transaction should match the entered payment transaction.
  • ponks
    ponks Member ✭✭
    Thanks very much. Rather than paythrough my bank, I set an auto debit at my Mortgage Company, and then a reminder on the Loan Account. Makes more sense.
    Still not sure why they way I was doing originally changed in Quicken. Always had it set up that way for the longest time The download from the bank, which set the recurring payment for the next month, right after it paid the current month, came in and there was no conflict with a bill due payment that Quicken now generates because of the recurring payment it recognizes.

    Anyways, it works now to my satisfaction. So thanks once again.
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