Allow for recognition of Variable Amounts on Recurring Bills

RetsonN
RetsonN Quicken Mac Subscription Member ✭✭
edited November 9 in Scheduled Transactions and Online Bills

When one enters a scheduled, say monthly, recurring bill e.g. electric bill, it requires us to enter a estimated fixed dollar value for that entry. However, in reality, the actual electric bill varies each month. If I don't change the estimated amount to the actual bill amount before the credit card is billed, Quicken downloads a new transaction for the electric bill payment and the old, estimated entry still remains too. Is there a way that when one schedules a recurring transaction, again like the utility bill, that I can note that the amount is variable [maybe even within a range] so when the transaction is downloaded via Quicken the Scheduled Transaction amount will now be replaced with the actual amount automatically — thus saving having to delete the scheduled transaction. thx

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  • jl_phillips
    jl_phillips Quicken Mac Other Member ✭✭

    My power and water bill vary from month to month. I simply edit the scheduled instance as needed as soon as I know what it is, which is at least a week before it is due.

  • Wyodad
    Wyodad Quicken Mac Other Member ✭✭

    Similar to credit card "recurring" and the new month's payment is known at least a week out.

  • majorgear
    majorgear Quicken Mac Subscription Member ✭✭

    This would be a great feature! I’m tired of manually matching transactions by dragging one of top of the other, or having to delete the extraneous transaction.

    Also, quicken has access to my credit card ebills , so it should be able to know the amount of the bill!

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited December 6

    If I understand your request, this capability is already available.

    Set up a manual Reminder set to a Remind me, not Auto enter. This can have a fixed or variable estimated amount, which is used for projected balances. Set the reminder date to a few days before the payment is due and the "Remind me" date to the date you expect to know the amount they will be due, often 18 days before the due date.

    Then when you receive the statement or email notification, Enter the reminder with the actual amount.

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  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭
    edited December 6
    https://community.quicken.com/discussion/comment/20526271#Comment_20526271

    With an online bill connected to a reminder Quicken uses the amount and date from that bill statement for the reminder. EDIT I just noticed this is for Quicken Mac, what I described is how Quicken Windows does it. If Quicken Mac does it really should be changed.

    As for matching a reminder not connected to an online bill I doubt they could do it. From what I have seen they almost entirely depend upon the amount of the transaction for making the match.

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