Bills and Income tab, Projected Balances graph issue

Bills and Income tab, Projected Balances graph: If a Credit Card account is setup to pay the balance in full each month the projected balance graph shows the balance going to zero after the next payment as it should. However, if you have recurring monthly bills that are assigned to that credit card account, the balance correctly forecasts the new balance but the second payment and all future payments do not reflect new monthly payments for those future scheduled charges. The balance just continues to grow for 12 months, if you select the 12 month view. Future scheduled payments from the checking account to the credit card should update to each projected monthly balance on the due date of the credit card. This is causing the checking account projected balance for the year to indicate too many funds available since it is not subtracting future credit card payments. Please fix the future credit card payments to reflect the future balance of the credit card based on all scheduled transactions in future months. It works correctly for the current month but not any future month.
Here is an example. You have a recurring monthly bill assigned to a credit card, $100. The account is setup to pay the full balance each month from your checking account. The current month correctly calculates the next Transfer from your checking account to the credit card and the future balance at the end of the month is zero. Perfect! However, the same $100 bill comes in next month and the credit card balance correctly calculates the next month balance as $100 but the next months' Transfer from Checking to the Credit Card shows zero payment. This is incorrect as it should show a future payment of $100.

That's it. Thank you

Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    Please edit this run-on post to add paragraph breaks. And change the title to be meaningful. 
    Quicken user since version 2 for DOS, now using QWin Premier Subscription (US) on Win10 Pro.
  • Sydney N.
    Sydney N. Member
    Transfer Reminder for credit card using Estimate amount, "Current credit card balance" fails to calculate the second period and all future periods Transfers correctly.

    This is an attempt to correct my original post. I do not see a way to edit the post as you requested. The above sentence is the corrected title of the post.

    The problem as I see it is on a Transfer Reminder for a credit card. When selecting "Estimate amount for me" and then selecting "Current credit card balance", Quicken will show the correct Transfer Reminder for the current month Transfer. However, for the second month Transfer, the Transfer does not appear in the Bills and Income display under the "Upcoming Bills and Income" list.

    For Example:

    1) Bill Transaction Reminder for Jan 10 for $100 is listed in the Bills and Income assigned to the credit card account.
    2) Projected Balance indicates a -$100 balance for the credit card.
    3) Transfer Reminder on Jan 28 indicates $100 transfer to the credit card account from the assigned checking account.
    4) Bill Transaction Reminder for Feb 10 for $100 is listed in the Bills and Income assigned to the credit card account.
    5) Projected Balance indicates a -$100 balance for the credit card.
    6) Transfer Reminder for Feb 28 is missing.
    7) Projected Balance indicates a -$100 balance.
    8) Bill Transaction Reminder for Mar 10 for $100 is listed in the Bills and Income.
    9) Projected Balance indicates a -$200 balance for the credit card.
    10) Transfer Reminder for Mar 28 is missing.

    This continues for all 12 months in the 12-month view of Projected Balances. The credit card balance will be -$1100 and the checking account will indicate $1100 to much due to the missing Transfer Reminders.

    I also noticed that if you try to edit the Transfer Reminder after selecting "Estimate the Transfer", it will indicate "Estimate Off" which is also incorrect since it was previously turned on. I do know that after the Jan 28 Transfer Reminder is actually entered on the 28th, the February 28 Transfer Reminder will appear, and the Transfer Reminder will have the correct Transfer amount. But the March 28 Transfer Reminder will still be missing as well as all the future Transfer Reminders.

    I hope this clarifies my problem. Thank you for your time and effort.