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How to manage future bills when I pay ahead through online banking

imigg

So, I get paid every 2 weeks on a Friday and on that Friday (or weekend) I go into our banks bill pay and pay bills for the next two weeks. Usually I plan the bill to be paid on the date it is due. So for example, I might go in on 1/17 and setup a bill through the bank to be paid on 1/28. In Quicken Classic I just put that payment into my account for that future date and I know I paid the bill and then it matches up later when a transaction happens with the bank. How can I do that in Simplifi? Or basically, if I pay the future bill with a future date how do i get that into my transactions so i know it has been paid and the money is allocated?

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Comments

Coach Jon

Hello @imigg,

Thanks for reaching out! We have a great support article that goes over how to set up and manage recurring transactions in Quicken Simplifi, that sounds like it may be what you are looking for. Recurring transactions help you stay on top of your expected bills and income. https://support.simplifi.quicken.com/en/articles/3625912-managing-recurring-transactions

-Coach Jon

RobWilk

Besides recurring transactions, I believe like Quicken Classic you can future date a transaction, and it will appear in the Cash Flow for that account (balances into the future) and in the carousel of upcoming transactions beneath it on the web.

-Rob

imigg

Thanks RobWilk. I agree, Quicken Classic allows you to future date it in your transactions list and that was great. You can't do that in Simplifi and trying to figure out how to get that similar experience.

imigg

Coach John. Thanks for the article, but I don't think it accomplishes what I am trying to do. What I am trying to figure out is if today I go to my bank site and pay a bill that is due 2 weeks from today. In the bank I submit that payment for 2 weeks from today. IN Quicken Classic I then show that bill as paid 2 weeks out and it shows in my ledger and deducts from my account balance. in Simplifi i can have the recurring payment setup for 2 weeks for now, but it doesn't show in my ledger in anyway to show that I have issued a payment or that it can be deducted from my balance.

RobWilk

you can future date, it just won’t show in register until then, it will be in the upcoming carousel

imigg

Thanks Rob. But as far as I can tell, if you do that it won't deduct from your account balance right?

RobWilk

you can see it in future balances on the cash flow chart (web) or projected cash flow (mobile)

SRC54

It sounds like what you want is to know that you've scheduled the bill to be paid on say the 20th of the month. As Rob says, you can go ahead and enter the transaction and link it to the recurring for the 20th. It will show as a reminder in the Spending Plan mark paid and in transaction window as an upcoming payment. It will also show up the Cash Flow chart. However, it won't deduct from your pending balance until the 20th, which is what is actually going to happen.

Simplifi isn't going to deduct any payment from your balance in advance. For what it's worth, I just go ahead and pay my bills as they come in rather than wait for the due date. Once I enter the payment, I link it or if it is through my bank, it downloads and gets linked by Simplifi. This is how I know I've paid the bill. Because I don't wait.

There have been requests to allow one to mark a recurring payment as paid, but this hasn't been approved yet. And even then I don't think Simplifi would subtract it from your balance until the date of the transaction arrives. But maybe a feature request could show that a recurring has been scheduled. This may already have been requested. I will check.

RobWilk

I guess what i'm trying to say here, if you enter a deposit for $1000 a week from now in the future, you don't necessarily want your current balance to have that money in it (because at your bank, you don't have that money yet) - the CASH FLOW section is where you can see future balances.

Earlier today I was writing from my phone (out shopping & doing lunch), I"m sorry if i wasn't clear but i'm not the best phone keyboard typist so tried to keep my replies short.

-Rob

imigg

Thanks Steve. I was starting to think that if I just pay the bill the day I pay bills then I don't have to think about future and that may be the way I go. Appreciate the response.

imigg

Rob, thank you for your thoughts as well. Your comments are helpful as well. Just seems I need to play around with how I want to be able to see things as it is slightly different than how quicken classic was working. Thanks again.