How do I send a payment/donation to...Quickly on a onetime basis?

scwerden

I often want to send a payment/donation at the "spur-of-the moment" to a payee which I have previously put in the payee list.
Stowell

jacobs

Are you set up for online banking from Quicken? If you use Quicken's Quick Pay for payees which support it, that should take place pretty quickly. If you use Quicken's Check Pay, that can take awhile until the check is printed, mailed and received. If you use you bank's bill pay, that can also be fast depending whether the payment can be made by the bank electronically or requires a mailed check. Finally, if the payee has a website where you can enter a payment to your credit card or bank account, that is typically the fastest way to get a payment in the hands of a recipient. 

scwerden

Thank you for your quick explanation - you solved very my question

jacobs

You should be doing credit cards differently...

You should set up an account in Quicken for your Amazon credit card. Then record (download or enter manually) every credit card transaction you make with the card as a separate transaction. The balance of the Amazon Card account in Quicken parallels your real-world Amazon card account. At the end of the month or billing cycle, you can reconcile your Quicken account against your credit card statement if you wish. When you pay the credit card bill, in Quicken your entry is a simple transaction in your checking account: a transfer to the Amazon card account — which again parallels the payment int he real world. There are no splits when you make the payment; the breakdown of your expenses has occurred when you entered each credit card transaction. 

There are lots of advantages to doing it this way. Your transactions are recorded on the date they occurred, not the date you paid the credit card bill. Any transaction can have a split, if the transaction needs to be split in multiple categories; Each transaction can have a QuickFill rule, so charges to repeat Payees can remember the categories you've assigned. You can see the running balance of the credit card account during the month. I hope you'll try doing it this way; it's really the way Quicken was built to be used. 

jacobs

Are you set up for online banking from Quicken? If you use Quicken's Quick Pay for payees which support it, that should take place pretty quickly. If you use Quicken's Check Pay, that can take awhile until the check is printed, mailed and received. If you use you bank's bill pay, that can also be fast depending whether the payment can be made by the bank electronically or requires a mailed check. Finally, if the payee has a website where you can enter a payment to your credit card or bank account, that is typically the fastest way to get a payment in the hands of a recipient. 

scwerden

Thank you for your quick explanation - you solved very my question

scwerden

Thanks again for you help on the first question. Now that I have Amazon Card set up as a Quick pay and have entered 8 Splits for the next payment. Q. Will those splits change with each new bill or will I need to alter the split amounts with each new bill in the future?
Stowell

jacobs

You should be doing credit cards differently...

You should set up an account in Quicken for your Amazon credit card. Then record (download or enter manually) every credit card transaction you make with the card as a separate transaction. The balance of the Amazon Card account in Quicken parallels your real-world Amazon card account. At the end of the month or billing cycle, you can reconcile your Quicken account against your credit card statement if you wish. When you pay the credit card bill, in Quicken your entry is a simple transaction in your checking account: a transfer to the Amazon card account — which again parallels the payment int he real world. There are no splits when you make the payment; the breakdown of your expenses has occurred when you entered each credit card transaction. 

There are lots of advantages to doing it this way. Your transactions are recorded on the date they occurred, not the date you paid the credit card bill. Any transaction can have a split, if the transaction needs to be split in multiple categories; Each transaction can have a QuickFill rule, so charges to repeat Payees can remember the categories you've assigned. You can see the running balance of the credit card account during the month. I hope you'll try doing it this way; it's really the way Quicken was built to be used.