Chances are your bills don’t all arrive on the same day. They trickle in, and you try to pay each one in a timely fashion. To save time and effort, you can have Quicken remind you when a bill is due, then you can pay the bill the way you usually do: with a check, an online payment, or a direct withdrawal.
Also remember to tell Quicken about your income, and when you expect it. Then when payday comes around, Quicken can enter your paycheck in the register automatically. Of course you may need to make a few adjustments to the amounts, but entering at least an estimate of your paycheck is important if you want to use the Projected Balances graph.
This section covers the tools that help you track your personal cash flow. If you purchased Quicken Home & Business, you'll have additional tools that can help you track business cash flow as well.
When you set up a bill reminder, Quicken reminds you when it's time to make the payment.
The online payment service also lets you schedule payments another way by allowing you to send your online payment instructions ahead of time for both single and multiple payments. This way, you don't need to be reminded of anything. Just set the delivery date and send the instruction.
In addition, the online payment service has a special type of payment called a repeating online payment. You send one online payment instruction that specifies the payment amount, as well as how often and the number of times to make that payment. The processor processes the instruction for the number of times you specify and for the appropriate delivery dates. You don't need to send the online payment instruction again. The payments continue until the last payment you specify is made or until you cancel the repeating online payment instruction.
Many people who use the online payment service like to set up repeating online payment instructions to pay regular bills that are always the same amount, such as car payments.
You can pay bills online from within your Quicken investment account if you sign up and activate your investment account for Quicken Bill Manager. You can then create a bill reminder from your investment account, or set up a repeating online payment series for any of your regular cash transactions.
Use the Manage Bill & Income Reminders dialog to set up recurring dividend and interest transactions for investment accounts. For other recurring investment transactions (for example, dollar cost averaging, DRIPs, or other transactions that involve purchases on a regular basis), set up a memorized investment transaction and then assign it to the Investment Scheduled Bills & Deposits group.