How do I configure Q2017 to make a monthly payment?

I'm getting confused in my old age but I've forgotten how to make Quicken pay (NOT remind ME to pay) my monthly mortgage.
I tried Bills > Create New > Bill Reminder but isn't that just going to remind me to send a payment???
Thanks for your help.
Reply to
Alek
On 2018-07-19 17:43:12 +0000, Alek said:
If you haven't already, open the mortgage bill reminder and select "Use Online Bill Pay" and "Make this a repeating online payment" (under 'Optional Settings). If "Use Online Bill Pay" does not appear, verify the account for payment specified in the reminder is set up for online bill payment. The payment instructions should be sent to the financial instituion when you "Update" the account (for example, using One Step Update").
You can learn more about "online payment" using Quicken Help (press F1 and enter "online payment" in the "Search Quicken Help" text box.
Reply to
Sherlock
Sherlock wrote on 7/19/2018 2:13 PM:
Do I need to do anything at the bank's end? Such as activate Online Bill Pay, or is the bank referring to something else that has the same name?
Thanks.
Reply to
Alek
On 2018-07-19 18:41:22 +0000, Alek said:
To perform an online payment from Quicken, you do need to set up an account at financial institution that supports receiving payment instructions from Quicken. These financial institutions are a subset of those that support the "Direct Connect" connection method.
Reply to
Sherlock
Sherlock wrote on 7/19/2018 3:56 PM:
I've been doing that for ages. I write "checks" in the check register with "Send" as the check number. When I update, this info is passed to my bank that sends money to the payee.
You're saying that "repeating online payment" is essentially just a variation of that, right?
Thanks for being patient.
Reply to
Alek
On 2018-07-19 22:18:04 +0000, Alek said:
Correct.
The difference is this online payment is scheduled and repeating which is where the use of the "Bill Reminder" comes in.
Reply to
Sherlock
Sherlock wrote on 7/19/2018 7:38 PM:
OOps! You lost me. Where does "reminder" come in? (To me, "reminder" implies that I have to do something.)
Reply to
Alek
On 2018-07-20 00:27:17 +0000, Alek said:
"Reminders" do not necessarily mean we "have to do something". They're more like scheduled alerts for transaction entries and can be set to be automatically be entered in the register.
"Reminders" come in because you said you wanted to use Quicken to pay your monthly mortgage and Quicken uses "reminders" to schedule payments. If you have set up the mortgage account in Quicken, you likely already have a reminder for the payment.
Reply to
Sherlock
Sherlock wrote on 7/20/2018 3:42 PM:
If there's a transaction entry that is automatically entered into the register, why do I have to be reminded???
OK. We'll see if that works. :-) Thanks.
Reply to
Alek
On 2018-07-21 22:40:10 +0000, Alek said:
In this case, you are being "alerted" that Quicken is going to automatically enter the transaction.
Whether you use Quicken to issue the online payment or not, you should use the mortgage's payment reminder (or memorized payee) to enter the payment transaction so Quicken will able to accurately track the principle and interest payment of the loan.
Reply to
Sherlock

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