Recurring payments and deposits (in Q Mac)

hecras

Hello, I’m very new to Quicken and I was hoping someone could help me. In my register , in either my savings or checking, how do I create a recurring monthly payment or a recurring deposit. I’ve looked online and I cant seem to figure this out? As mentioned, I’m a former My Money 2002 user and I’m new to Quicken Deluxe. Thank you in advance for your help!

Quicken Anja

Hello @hecras,

Thank you for reaching out to the Community with your question.

If you haven't already, I invite you to take a moment to review this Help Article for instructions on how to create scheduled transactions.

Additionally, being that you are a new user, I would also like to inform you that you do have the option to schedule a one-on-one tour with our Quicken 1-2-3 team. 

By doing so, one of our Quicken 1-2-3 team members will contact you via phone at your scheduled appointment time. This team has been specifically trained and put together to assist our new customers in getting familiarized with the program and learn how to utilize it to fit your needs, as well as answer any questions and/or address any concerns you may have.

If this is something that would interest you, then please, click here to select a time slot and schedule your tour! Alternatively, you can also call them directly at your own convenience. The phone number can be found through that same link.

I hope this helps!

jacobs

@hecras The Help article Anja provided shows how to create scheduled transactions from the Bills & Income window. I wanted to point out that you can do the same thing directly in your account registers.

If you have a recurring monthly payment from your checking account or a credit card account, you can create it in the appropriate account register. The easiest way is often to select the most recent such payment, then click the Schedule button in the bottom toolbar, followed by Schedule Selected Transaction (or from a menu: Transactions > Schedule Selected Transaction. Or you can create a new scheduled transaction from scratch by selecting New Scheduled Transaction.

In order to see your future scheduled transactions in a register, click on the little "v" icon to the right of the little clock under the Search box. Then you can select to see the next instance of each scheduled transaction, or all scheduled transactions in the next 30, 60 or more days. These scheduled transactions then show up in the future in gray in your register. 

Note that there is currently a bug which the developers have not fixed where creating a transaction in this way automatically creates the recurring transaction assuming you want it monthly, instead of showing the Schedule screen where you can specify the frequency, the day or date (e.g. the 15th of each month, or second Tuesday of each month), and optionally an end date. To alter the schedule, double-click on a (gray) scheduled transaction in your register, and select Edit All Instances in the blue mini-menu which shows up under the transaction. Then click on Schedule and tweak as necessary.

One more tip…. On the Schedule screen, the developers have tried to keep it simple, to avoid confusing users, were told. But by hiding some of the schedule options, they have ended up often confusing users. It's all because they've insisted on an unclear user interface. When you go to the Schedule screen, you see something like this:



That's simple enough:; it shows a monthly transaction starting 6/1/22, and the right side shows the future instances on 7/1, 8/1, 9/1, etc. But how do you do any of the more complex schedules, such as the second Tuesday or each month? The key is that little "v" icon to the left of the starting date. Many people don't realize it's the key to unlocking the flexibility of the transaction scheduler. Click the "v", and additional scheduling fields appear:



So if you want a transaction, say, every 4 weeks on a Tuesday, you can select Frequency=weekly, on Tuesday, every 4 weeks. 

hecras

Thank you everyone!
I do have one more question about reconciling of checking accounts. When I reconciled my checking account in My Money, it would ask if there were any intertest charges or fees. I don't see that in Quicken Deluxe. is there a way to set it so that it asks this as well? If not, how do I add any interest, fees, etc? As always thanks in advance for your help!

jacobs

Quicken Mac won't "ask" you about interest or fees, but they're easy to add. I generally try to add any such transactions in my register before I reconcile, but if you don't, it's equally easy to add a transaction while you're on the reconcile screen. In the gray menu bar below the heading and above the list of transactions, you can click the button for "New" or "± Adjustment":

"New" simply creates a blank new transaction, which you can then enter to complete. This is useful if you find you missed entering a transaction, for instance, or to enter interest or a fee.

Clicking "± Adjustment" will create a new transaction and set the amount to whatever difference there is in your reconciliation at that moment. It will default to the category "Adjustment", which is a special category which is neither income nor expense. So I suggest using "± Adjustment" sparingly, it at all, because it simply makes any discrepancy in your reconciliation go away, without you figuring out why there's a discrepancy or without categorizing it as interest income or a fee.