For some reason, say, old age, I no longer know how to set up a new
repeating payment in Quicken (2017 Deluxe).
Suppose I bought a new car and am making a monthly payment to XYZ Credit.
Would someone kindly walk me through the steps to set up a repeating
payment so that every month -- without my intervention -- I send a
request to my bank to send XYZ money?
I have two listed under Bill and Income Reminders > Repeating Online but
for the life of me, I do not remember what I did to get them there.
Assuming your bank has online billpay, you can setup the equivalent of a
Quicken "repeating online payment" at their website.
Then in Quicken all you need is a regular repeating payment transaction
(which can be Automatically entered in your Quicken register). Your actual
payment transaction will be made automatically by the financial institution
and you will receive a downloaded transaction for the amount of the payment
that was made.
If you are making a loan payment, you can setup the loan in Quicken and plan
to use the loan payment transaction Quicken creates. For most car loans,
you will have to modify the principal/interest split for each transaction as
it occurs, but presumably you'd have to do that even it you did not setup
the loan in Quicken.
If you feel you must have a Quicken "repeating online payment":
_ Create a new "Bill" reminder
Make the payee a payee in your Online Payee List
_ Make the "From" account a Quicken account that is activated for online
To the right of the From account, put a checkmark in "Use Online Bill Pay"
_ Put a checkmark in the resulting "Make this a repeating online payment"
When the new Reminder is complete, make sure you do an update with the
[I believe you can edit the Reminder that the Quicken loan setup creates, to
adhere to the above. One step in the loan setup process, offers access to
the loan payment Reminder ... or the Reminder can be modified after the loan
setup process is complete.]