Quicken thinks it scheduled a payment but didn't

Using Quicken Deluxe 2006 (Q6) and have been now for 4 months.

Earlier this evening, I scheduled a payment out of checking account 2 (CK2) while on my bank's website (I don't use Q6 scheduled payments for my own reasons). The payment was scheduled for the 27th of this month. I also scheduled some payments from Checking account 1 (CK1).

Later when I opened Q6 and downloaded transactions for my two checking accounts, a transaction type of SENT with a lightning bolt showed up in my CK2 register dated 3/27/06. The payee was listed as the one I scheduled the bank payment to, the amount was correct and was deducted from my Q6 CK2 balance. I did not expect to see this until the bank issued the payment on 3/27 and entered it into the register at the bank and then wold show as a transaction on the next download. I went back into the bank site to see if I put a wrong date on the scheduled payment an perhaps find it in the transacition list - but it does not show up meaning it hasn;t been paid yet.

In reviewing doenloaded transactions for CK1, regular transactions were present and NO scheduled payments I set up for CK1 were downloaded. This is exactly what I would expect and what has been happening since I have been using Quicken - scheduled payments don't hit the transaction list at the bank until the bank pays them and thus don't get downloaded until they appear in the transaction list.

I tried to delete the transaction from CK2, but the messages Q6 gives me seem to say that Q6 thinks it set up the payment and now I must cancel it, and then when I exit Q^, it wants to send something that says the payment is canceled, but to whom ?

What gives here ? Is Q6 screwed up or did the bank err in telling Q6 about this scheduled payment ? HELP please

Reply to
Jungle Jim
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I haven't upgraded to 2006. But, in general, payments scheduled through your BANKS website do not show up in Quicken as 'sent' (with the lightning bolt). That terminology is reserved for payments made through Quicken.

It appears as if you did, indeed, schedule and send a payment through Quicken.

This is my guess... You scheduled the payment(s) on your banks website. Was it possible that you entered the payment into your Quicken register in order to have your bank balance reflected correctly? If so, what entry did you use in the check number field? When entering outside scheduled payments, I usually use a print check or EFT designation. IF, however, the transaction was entered with the check number as 'Online Payment', then Quicken would 'send' the payment at the time of your next download. Be aware, that if the payee was in your online payees list, Quicken would automatically enter the transaction as if it were a payment to be sent.

At this point, I would check your online payee list, and examine the account number and payment address on the payee to see if it is correct.

If it is not correct, cancel the payment in Quicken ASAP.

If it is ok, then cancel whatever payment seems easiest.

Reply to
L

"L" wrote in news:T2eSf.598$ snipped-for-privacy@fe12.lga:

I don't ever schedule payments in Quicken - I checked my Scheduled Transaction List (CTL-J) and there are NO entries for either of my checking accounts.

I also did not enter the TX in the register to reflect balance - I never do on these types of payments - I wait for the bank to pay them and enter the TX into the activity list where I pick it up when I download.

I also talked with a bank rep in the Internet and bill payment dept and they could not discern anything in the scheduled payment that would make Quicken download it.

Thanks for your reply.

Any others ?

Reply to
Jungle Jim

The transaction type of SENT and the lightning bolt indicate the payment information was NOT DOWNLOADED and received by Quicken, but rather was PROCESSED AND SENT by Quicken.

Payments do not have to be on the scheduled transaction list in order to be sent. Personally, I prefer to initiate payments through Quicken rather than my bank's website. I do not schedule them, and if you were to look at my scheduled transaction list, it is empty.

The advice is the same. Either cancel the payment you created (in whatever manner) in Quicken, or cancel the payment you initiated through your bank.

If you don't want to do this, just make sure you have enough in your bank balance to cover BOTH payments.

Reply to
L

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