How can I make a partial payment on a bill?

I've been using QuickBooks for years, and decided since I no longer have my business, it's not cost effective for me to upgrade so I've downgraded to Quicken.  I used Quicken in the late 90's; however, how it works now is less user friendly than it was back then.

I have two bills that I make partial payments on; however, when I enter the bill, and try to make a partial payment, the balance remaining doesn't change to reflect the payment I made.  How can I set up these bills so that I can make a partial.  These are not credit cards or loans; it's my car insurance and my homeowner's association annual dues.

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @LoisM,

    Sorry that you are having problems making partial payments through Quicken.

    Can you tell us how you are making the payments?  Is it through your bank's bill payment feature/process, or is it through Quicken Bill Manager?  Also when you say the "balance remaining does not change" where, in Quicken, are you viewing the "balance" that doesn't change?

    Get back to me and we'll go from there.

    Frankx


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
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  • LoisM
    LoisM Member ✭✭
    It's through the Quicken Bill Manager. The balance I see is also in Bill Manager, as well as at the bottom below my check register where is show the Bill and Income Reminders. Also, if I make a partial payment is changes the next due to date which is the next renewal date; for my car insurance that will be the next premium renewal date in Sept., and for my HOA dues, that's next years renewal. I remember when Quickens bill paying was very similar to QuickBooks, and for that reason, I was able to easily transition to QuickBooks without any problems. I don't understand why Quicken can't use the same Pay Bill feature as QuickBooks; you enter a bill, and you can easily change the amount you pay and it automatically reduces the balance owing.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Here's one way of doing that in Quicken:
    • Create an Offline Account of Type = Checking or Liability, name it "Personal Accts Payables" (PA/P) or something similar.
    • Use a Scheduled Bill Reminder to make the initial entry, e.g., HOA Dues, due on xx/xx/xx, full amount due, category HOA Dues. Record that in the PA/P register.
    • To make each partial payment go into your checking account, write a check for partial payment, categorize as a transfer to the [Personal Accts Payables] account.
    • After you have made all your partial payments, the balance in the PA/P account should be back to zero, at least for all transactions with the Payee Name of your HOA.
    • You can use the same account for all other recurring partial payment situations
    If you have the Quicken Home, Business & Rental Management edition, you could use a Vendor Invoices (A/P) account to record the total amount of HOA Dues as a vendor invoice and make payments from the Vendor Invoices account register via your checking account.

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi again @LoisM

    Unfortunately Quicken is using a different bill payment processor and, as such, it is different from what you are used to.  However, you should know that if your bank allows for bill payments facilitated through Quicken (as many do) you will likely find that to be more flexible than Quicken Bill Manager, and therefore should be able to make partial payments more easily.

    Let me know of you have any followup questions on this option.

    Frankx


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • jrich75
    jrich75 Member ✭✭✭✭
    edited March 9
    I have several policies with one insurance company and payment is made monthly, with specific amounts applied to each policy.  All I do is set up a monthly reminder with splits for each policy and the payment amount for that policy.  Policies renew either annually or semi-annually and when a policy renews, the payment amounts need to be adjusted but otherwise, the reminder is set to auto-enter monthly.  
    I don't find it necessary to track the various policy balances, tracking the individual payments is adequate.  A simple search for a specific policy will tell me how much I've paid.
    Quicken user since 1995
    Win10 Deluxe Subscription thru 2021
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