Provide the capability to include an interest within Reconciliation process (Q Mac)

William Day

When reconciling Checking / Savings Accounts provide the capability to include an interest box within the Reconciliation process that will automatically post the interest to the account's ledger thereby negating the need to post interest manually via a separate transaction.

jacobs

@William Day When you're in the reconcile window, you can currently press "New" to create an interest payment you received. If I understand correctly, you want an easier way to do this?

So if there were such an "Add Interest" button, you'd need to enter the date and amount of the interest; the Payee name and category would be applied by Quicken, correct? Currently, if you press "New", you enter the date and amount, but also have to enter a Payee name, such as "Interest Received" (and since this is a monthly transaction, you'd presumably have it saved as a QuickFill, so the category would be applied automatically). I might be missing some aspect of this, but it seems to me this would only save a few keystrokes to start typing "int" (plus-or-minus a character or two) in the Payee field.

An even faster alternative, though, would be to create a recurring (scheduled) transaction to post on the date of your statement closing each month. Then, when you get your statement, you'd just click on the on the scheduled transaction, click "Paid", and edit the transaction to enter the amount; there'd be no need to enter a Payee or even a date.

I have no objection to having a dedicated function to adding an interest payment. But unless there's more to it than I've described, to me this would be a very low priority versus so many other needed/desired features in Quicken Mac. Creating a scheduled monthly transaction would require no more steps each month than a special Add Interest button + window.

After a quick search, I found there is already an Idea thread for this feature request. You can add your vote and comment to the thread if you wish:

https://community.quicken.com/discussion/7323574/add-ability-to-add-service-charge-or-interest-during-reconcile-to-quicken-for-mac-54-legacy-votes

(I'd just note that this request was originally created in the early days of the modern Quicken Mac, and the reconcile screen at that time did not allow transactions to be added directly in the reconcile window; the reconcile window was redesigned and improved a few years later.)