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Create account for irregular, recurring bills? How?

I'm using Quicken GX 2005. I'm just starting to get is set up the way I like. There is one thing that I'm not understanding though...

My electric bill, for example, comes in monthly, but never on the same date. Because of this I can't set up a recurring bill. I could set up another account in Quicken, but none of the account types take into consideration bill accounts (unless you are a business).

When a statement comes in the mail, I want to enter the amount due into Quicken, appearing at the billing date stated on the statement. Then, I will do a transfer from my Chequing account to the bill account a day before the bill is actually due, paying that balance (or partial balance) on that bill. The payment will also be split to show the payment and any taxes and late fees (if any).

Handling the bill like this should make reconciliation and reporting pretty straightforward later on.

Am I going at this the wrong way? How should this be handled by Quicken?

Reply to
Noozer
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I don't agree.

I get a couple of such bills each month, and I handle them with Scheduled Transactions without problem. Just choose a date that's close to the date of the bills (maybe the average due date) and tell Quicken to remind you a few days before that due date. When you have the actual bill and know the true due date, and are ready to have the transaction in your register; click Enter, change the due date, and enter the transaction in your register.

You could also have Quicken enter the transaction automatically, then modify the register transaction date when you got your bill in the mail.

Reply to
John Pollard

"John Pollard" wrote in news:ykD3i.122482$_c5.98891 @attbi_s22:

John's last way is how I do these thins. In order to eliminate any penalties for late payment, I authorized utilities to deduct the amounts due automatically (usually happens on the due date, depending on the company). This way I also save time and effort, as well as stamps. Your way would wreak havoc if the mailing date would fall on a day you're out of town.

Reply to
Han

I really like the way that the scheduled transactions let you keep track of your splits automatically, without having to recreate them for every payment. Unfortunately, I need a way to track the billing dates and amounts as well as the payments.

I guess I should clarify a bit more...

The wife is away on business for a few months. She's the one who pays the bills. (She accesses the PC remotely)

What I want to do is...

- When the statement comes in, enter the billing date and amount into Quicken.

- A few days later, my wife will look for the bill statements and then schedule the payments.

So basically, I want to treat my bills like credit cards.

Reply to
Noozer

I also need to track balances if the amount is not paid in full.

Reply to
Noozer

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