Bank Pay not yet cashed checks are incorrectly shown as "cleared."

Jorge Goldstein

I have now had trouble a few times with paper bank pay checks which have not been received or cashed by the intended payee. The Quicken register showed that the check had "cleared" but that was incorrect. Quicken had just posted it as cleared but it has not been cashed - and twice it had not even been received. It got lost in the mail. I had to put stop payments on them.

I suggest that the register show when the check has been posted and then later that it has been cashed. Or provide online images of the endorsed check, as my bank (Wells Fargo) does for regular paper checks written by me directly from my checkbook. That way a user can tell that the payee has received and cashed the check, not only that the bank has approved it.

Quicken Kristina

Hello @Jorge Goldstein,

Thank you for coming to the Community to share your feedback! Just to clarify what is happening, since you reference Bank Pay, is this Bank Bill Pay initiated through Quicken? Do the transactions show cleared on the financial institution website? Which register column are you wanting to see "posted" and/or "cashed" showing up in?

I look forward to your reply!

NotACPA

@Jorge Goldstein If you bank is sending a paper check, the bank might be saying the payment is "Cleared" when then send the check and debit your account … rather than when they receive back the check after it's been deposited.

You'd need to ask your bank about this.

Jorge Goldstein

Kristina: thanks for your quick reply and question. I use Quicken Bank Bill Pay, not Quicken Bill Pay. I have an unlimited number of checks per month. My online system sends an order to Quicken including the payee, address, account number, etc. My register shows that it has been sent. Quicken then instructs Wells Fargo to generate a paper check. When Wells Fargo sends the paper check, they appear to tell Quicken. My Quicken register then shows that the check has posted, which looks the same on the register as though it had been endorsed, presented, and cashed. It looks like it has cleared. But it has not yet. That was confirmed by Wells Fargo when I asked them how the process works. At that point my Quicken register shows the checkmark for "cleared" but the payee may not yet even have received the paper check. I have received a call from more than one payee asking, "Where is the check?", and I cannot tell her that she has endorsed and cashed it, because I do not know if that is the case. All I know is that Wells Fargo sent it by mail, and posted it as cleared. That is a problem. I wish I could get access to images of the endorsed check so I can tell the payee "You endorsed it on such and such date." I can't.