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Allow use of current balance of credit card accounts for scheduled payment transaction (Q Mac)

bullbeast

Greetings Quicken team,

I converted from Quicken Windows 4 years ago and am still hoping for features in the Mac version to catch up to the Windows version.

Please consider allowing a user the ability to assign the current balance on a credit card account to a scheduled bill related to that credit card. It is critical for planning cash flow and money movement.

Quicken is supposed to make my finances easier and quicker. I currently spend my time eyeballing the checking register with a look out 60 days to determine if the cash is sufficient. I would like the Quicken software to do that for me since it would be much better at performing this task quickly.

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Bill Payments

Accounts

Quicken Mac

Scheduled Transactions

Reviewed

Status: Reviewed

Comments

JNJ

I would love to have this feature as well. As someone who pays credit cards in full, it would be extremely helpful to setup bill reminder based on current credit card balance. I miss this feature from Windows version.

Ava

I was going to add this enhancement request and then saw this post so I'll add my note here.

Bill reminder option that will show the current credit card balance as the amount due.

Hide transfer accounts in the bill reminder list. When I set up a reminder to pay my credit card, I don’t need to see $100 leaving my account and $100 going into my credit card account in the bill list. (Since I can’t select the current balance as the amount due, I’ve been adding $0.00 as the amount due in the reminder. But then I get duplicates listed. I only want to see the reminder that money is going to leave my checking account. I don’t need to see that a credit will show up to my credit account. I can see that in the actual account list; I don’t need a reminder for that.)

Eric_S

I also desperately want this feature. However, I would like to suggest a variation. I pay the statement balance each month- not the full balance. (The statement balance doesn't include charges incurred since the statement was generated). This is the amount you need to pay to avoid any interest charges, while taking advantage of the float for newer charges.

This means making the payment amount based on the account balance on a particular day. Concrete example: My visa card is due on the 11th of every month. The statement balance is based on my account balance on the 14th of the prior month. If I could configure projected payments to use this amount, I would have very accurate cash flow planning. Today I do this manually which takes a lot of work and is error prone.

Chris_QPW

For what it is worth, I have never found any of Quicken Windows possible choices 100% good. I was always having to adjust the amount of the transfer to line up with what it finally was.

With a credit card these are the "manual reminder" estimate choices:

With Online Bill presentment the remove these possibilities and you have to pick either the statement balance or minimum due amount.

On the one above you might think that Current credit card balance is the correct one, but this "doesn't stop" on the date of your statement (nowhere to even enter that information), so as the balance goes up past the closing date, it shows an amount that is too large.

Then we go to Online Bill presentment. Two problems with this one. The first is that over the years of trying to use Online bill presentment (which was first introduced in Quicken Windows 2015) it always proved to be unreliable, needing constant resets and such. Also, in some cases, in between statements the "amount due" will be zero for some billers, making the projected balances wrong. The second problem is that if you do any returns between the statement closing and the payment the amount in this reminder will be too high by those returns. Most financial institutions subtract the returns from what you are going to pay if you pay in full, but your "statement balance" that the Online Bill presentment gets never changes.

In the end, because I can, I just keep enough on my checking account so that I don't have to worry about the cashflow for it and I just now use the memorized payee list to categorize it as a transfer to my checking account (no pre-entering).

cmobergfell

I also vote for this upgrade! It would sure be nice and get the Mac version up to where the Windows version was years ago