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- Touring the interface and setting up an Intuit ID
- Understanding account types
- Adding and updating accounts
- Tracking spending
- Searching, sorting, and filtering transactions
- Categorizing transactions and customizing categories
- Reconciling accounts
- Creating and understanding spending reports
- Projecting future balances
- Using Quicken Online Bill Pay
- Creating a budget
- Creating a debt reduction plan and savings goals
- Using the Lifetime Planner and the Tax Center
- Tracking investments
- Viewing your investment portfolio
- Creating and understanding investment reports
- Using the Quicken mobile app
Skill Level Appropriate for all
Quicken Online Bill Pay is an optional fee-based add-on service provided by Intuit for users of the Quicken software. It's a way to pay your bills online from within the Quicken software. First, I want to clear up a common misconception. You do not have to sign up for Quicken Online Bill Pay in order to be able to download transactions from your bank. At the time of this recording, the charge for Quicken Online Bill Pay is a $9.95 monthly subscription fee. Keep in mind that most banks have an online bill pay feature that you can use without a charge.
And you can still download these transactions to your register to keep up to date. However, to use online bill pay through your bank, you'll need to visit the bank's website. The only way you can pay bills from within the Quicken software is to sign up for Quicken's Online Bill Pay feature. With Quicken Online Bill Pay, you can pay bills from multiple accounts. To use Quicken Online Bill Pay, you first need to make sure the financial institution that you use to pay your bills supports Quicken's Online Bill Pay service. You can check to see if your bank is supported by searching the list at this link.
Next, you'll need to sign up for this service. The simplest way to sign up for the Online Bill Pay service is from within the Quicken software. Select Tools and all the way at the bottom of the menu, select Quicken Bill Pay. Select Learn about Quicken Bill Pay, and a website will open up in a new window where you can sign up for the service. You'll need your checking account number, as well as your social security number to sign up. Once you sign up, you'll get a user name and password that you can use to add the account to the bill paying service. And once you have this user name and password, the next step is to set up a Quicken Bill Pay account.
Go back to your software. Once again, select Tools > Quicken Bill Pay and this time, select Set up Quicken Bill Pay Account. You'll be prompted for your user name and password, and then you'll be asked for the account you'd like to set up to pay bills from. You can set up to ten accounts from which to pay your bills. Once you've added the account you'll pay your bills from, you can either pay your bills from that account register or on the web. To pay from your account register, you'll create a new transaction and you will select Online Payment. The first time you make an online payment to someone, Quicken will ask you for some information in the Setup Online Pay dialog box, where the person lives or where the business is located, and what account number Quicken can use to identify you or your business to the person or business that you pay.
You can also describe online payees by choosing Tools and the Online Payee List. This displays a list of the online payees. You can only choose this option if you signed up for Quicken Bill Pay. Once you've recorded your payment, you need to send it to the bank. To do so, perform a one-step update just like you do when you're downloading transactions and balances from your bank. Quicken will connect to the internet to your bank's computer. As part of making this connection, you'll need to provide a pin. When Quicken finishes sending your payment instructions to your bank, it displays a summary that basically says you've connected to the bank's computer and sent it some payment instructions.
And at this point, you're done. You've paid your bill. Once you've set up your Quicken Bill Pay using the above steps, follow the general topics for setting up payees, paying bills, updating payment status, and so on from within the Quicken help. You can also do these tasks from the Quicken Bill Pay website if you prefer to do these tasks from a web browser. That's available at Tools > Quicken Bill Pay > View and Pay Bills on the Web. There is a good chance you can sign up for online bill pay through your bank even if you don't sign up for Quicken's Bill Pay service.
And you don't need to sign up for Quicken Bill Pay to download transactions from your bank. Consider signing up for Quicken Bill Pay if you have a small business, but for most individuals, it's not necessary.