Recording my reoccurring payments that are initiated by the vendor

williamspl

I have a few vendors that I allow the Vendor to initiate their payments each month.

What is the best practice method to record these payments to minimize reoccurring data entry and be able to recognize them as vendor initiated.

Thanks!

Quicken Classic Premier, R53.16 on Win10.

Bob_L

A vendor payment should be identified as such in the download from your bank. I have many vendors set up to automatically pull funds from my account. For example, I have a reminder set up for my gas bill on the fourth of each month. I get an email notice of the amount due about 3 weeks before the due date. When I get that amount, I choose the option to enter that reminder, putting in the now known correct amount and selecting EFT as the type of transaction. If it's entered with EFT I know it's real.

I also have my register set up to show reminders 30 days in advance in the register. That also alerts me to be on the lookout for coming reminders that have not already been entered, i.e. the one with no EFT indicated in the transaction and showing the reminder icon.

Is this what you wanted suggestions on?