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Bill Payment Reminder Estimate last 3 payments - not estimating at all

Jeff7@

I have Quicken Classic. I've had it for years. I have some Bill payment reminders set up to automatically enter into my register about 20 days before they are due. The amount is an estimated amount based on my previous payments (last 3). I originally set up the reminder for $X.

The bill payment goes into my register every month like it's supposed to. When I download my transactions, if the amount is different, then I go into the register and change the amount to $Y. Then I select "Match" to reconcile it. I've been doing this for years.

The amount that gets entered into my register never changes from $X to $Y, even though I could have been doing this for months.

Am I doing something wrong, or is this functionality broken? It has never worked for me. My Quicken Classic is updated to the latest version.

[Edited - Readability]

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Comments

Quicken Carlos

Hi @Jeff7@,

Thank you for sharing the details about the bill payment reminder and the steps you’ve been taking to correct the payment amounts.

To better understand why the estimated amount isn’t updating based on your last three payments, I have a few questions:

Does this happen with a single bill reminder or multiple reminders?
When you open the reminder and go to Optional Settings, is Estimate amount for me set to Previous payments with 3 payments selected, and do you see an error message?
After matching the downloaded transaction and correcting the amount, have you tried opening the reminder settings, changing the number of previous payments, and then changing it back to 3 to see whether the estimate updates?
Have you tried removing and re-creating the bill payment reminder to see if the issue persists?

I look forward to your reply!

Jeff7@

I've tried using this type of estimates payment multiple times over the years, with different bills and it has never worked for me.

Is it supposed to update automatically in my register as the amount changes without interaction? Or am I supposed to go back and edit the reminder, to get it to update.

I am setting it up like your image, and I don't get an error.

UKR

AFAIK, based on my observations, for "last x payments" to work,

the same physical reminder must have existed for x instances. At instance x+1 the reminder can be changed to "last x payments" and the amount will automatically recalculate from then on.
Deleting and redefining the reminder, even if it's exactly the same Payee Name does not make it work.
I believe that changing the bank account assigned to the reminder also breaks the chain of last x payments.
"Use credit card balance" cannot be used in conjunction with "last x payments" to forecast credit card bill amounts due over future months.
If this reminder is linked with a Bill Pay or Check Pay transaction, this process may not work.

Jeff7@

So it is currently set at $11.33 (estimated amount). If I go in to "change", it shows "Current estimate" as $11.33 ← previous payments, last 3.

If I change it to fixed and then back to previous payments, last 3, then it updates correctly to $15.33. Then I select done. The reminder automagically reverts back to $11.33.

It's not a big deal, but I wish this feature actually worked.