Add Electronic Funds Transaction (EFT) Option to Paying a Credit Card Bill After Reconcile

MLD627
MLD627 Member

Suggest adding Electronic Funds Transaction (EFT) Option to Paying a Bill After Reconciling an account. Currently only options are Handwritten Check & Printed Check

6
6 votes

Reviewed · Last Updated

Comments

  • rtopping
    rtopping Member ✭✭

    When reconciling a Credit Card account, there is a drop down for "Printed Check" or "Handwritten Check". There should also be a choice for "Account Transfer".

    The majority of payments I make now are EFTs to the credit card provider. I would bet that most people do it this way now. Currently, I have to select "Printed Check", then go to the register and change "Print" to "Transfer". Adding a "Transfer" option would eliminate the last step in the process.

  • Hello @rtopping,

    Thank you for sharing your idea! Since there was already an idea submitted asking for the same thing, merged your idea with the existing idea.

    Thank you!

    Quicken Kristina

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  • UKR
    UKR SuperUser ✭✭✭✭✭

    Until the programmers get busy on implementing this Idea, may I suggest the following workaround:

    Instead of using the function to pay a bill after running Reconcile,

    • set up and use a Scheduled Reminder transaction to pay the credit card bill from your checking account, categorized as usual as a Transfer to the credit card account. Execute this reminder on or before the payment due date, BEFORE you download transactions from either the bank or the credit card containing payment confirmations.
    • logon to the credit card website once and authorize them to direct debit (aka PAC Draft, Autopay, APS, etc.) the next and all future payments from your checking account. From now on, the credit card's computer system will do all the work for you to make an electronic debit on the due date and you don't have to worry about being late.