Enable Quicken to Automatically Enter Deposits on Business Days

tjbuki

For those of us who get paid monthly, it would be very helpful to enable Quicken to automatically enter deposits on business days only. We currently have to manually change deposit dates when they fall on a weekend or holiday. We should be able to select the last business day before or the first business day after the weekend or holiday, depending upon our needs. This capability should apply to all deposits, whether splits (paydays) are involved or not.

Boatnmaniac

I agree that this option would be a good add to Reminders. Often, but not always, when a financial transaction date falls on the weekend or a holiday, the transaction actually occurs the last business day prior to that. I would find it helpful to be able to have this option so I don't need to manually change the transaction date each time that happens so that when the transaction later downloads it will properly match to the entered Reminder. This Idea has my vote.

Jim_Harman

There is a related Idea here. Hopefully this will be implemented some day.

https://community.quicken.com/discussion/7340440/additional-option-for-frequency-of-occurrence-on-bill-reminders-75-legacy-votes

Boatnmaniac

https://community.quicken.com/discussion/comment/20435734#Comment_20435734

Thanks for adding this older Idea thread. There are more scheduling options discussed in there, all of which appear to have some merit. I agree with you….hopefully this will get implemented some day, sooner rather than later.

Jim_Harman

It should be possible to pick the correct day most of the time, but there are a lot of variations. In addition to specifying whether the deposit should be on the prior or the next business day, there are bank holidays and the list would have to be updated annually. Juneteenth was added recently.

I think stock markets are closed on Good Friday but banks are not.

See this list

https://www.frbservices.org/about/holiday-schedules

Boatnmaniac

I think they'll need to keep it narrowed down to official national holidays that the banks observe. If they try to account for all the other business and religious holidays it will get to be too complex and unmanageable.

Jim_Harman

Yes that's right. And limit it to deposits. Bill pay dates vary widely, even when the payments are online.

Boatnmaniac

https://community.quicken.com/discussion/comment/20435764#Comment_20435764

I think it could be used very well with Reminders of just about any kind, not just limited to deposits. We're talking about a user option so it would be the user who would need to determine which Reminders should have that option selected. There's nothing more that Quicken would need to know other than is the box checked and is the transaction date of the Reminder a weekend or a holiday. I don't see this being any different from any other user-choice option with regard to Reminders scheduling.

But maybe I'm missing something about this. Would you expound some on why you think this could not work with just about any kind of Reminder?

Jim_Harman

II guess you are right, as long as users don't expect it to be 100% accurate.

My experience with auto-pay for utility bills and such is that the date the money is debited can vary by a few days with no apparent pattern.

Boatnmaniac

Yes, I have the same issue with my water/sewer bill, my cell phone bill, my cable/internet bill and my mother-in-law's cell phone bill. I don't understand why the date varies. What I do know is that I need to wait for these bilsl to become available before I manually enter the reminders with the date shown on the bill. So, these would not be good candidates for this option.

All of my other recurring bills, income deposits and transfers are very predictable, including the few that will pull in the due date because of a weekend or holiday. These are the ones that will be easy to know whether or not the option should be selected.

IMO, this option probably should only be selected when one knows for sure that the biller or payer will pull in the due date when it falls on a weekend or holiday.