tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/96791-paying-monthly-billsInfinite Kind: Discussion 2020-05-06T20:58:32Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-14T23:02:58Z2020-04-14T23:02:58ZPaying monthly bills<div><p>Hi Peter,<br>
Thank you for contacting Moneydance support.</p>
<p>The payment date method has changed to use the date that your financial institution's server replies to Moneydance about when the transaction will be registered with them.</p>
<p>With many banks, this will most likely be the date that the funds are debited from your account, though all financial institutions have different preferences and restrictions for when they enter the transaction into their system (like financial institutions that don't support payments on weekends or holidays, for example).</p>
<p>Moneydance communicates directly with your banks server when it sends payments. Nothing is stored or backlogged in Moneydance. After you've sent the payment request you should see the payment in your outbox has a status of "Will Process," - this is once it has been received and acknowledged by your banks server.<br>
You should see the 'Outbox' when you select <strong>Online --> Online Bill Payment</strong></p>
<p>Certain banks do not provide us any feedback (on their bill pay webpage) that the payment request was received, executed or dropped. This is probably by design, to encourage customers to use their web based services for processing payments.</p>
<p>Without this, the only status you have is the "will process" and "processed" indications in Moneydance. I believe that the transactions will only show up on the banks site within recent activity, when the funds have been received.</p>
<p>Finally, the payment will show up as "will process" or "processed" in the Online Bill Payment outbox once you have done it. To find the "Outbox" select "Online/Online Bill Payment" you should see a pop-up window titled "Online Bill Payment" this window will have "Outbox".</p>
<p>Please note that it may take a number of days for the payment to be processed and sent to the Payee, and some banks require that you set the <strong>“Due Date”</strong> of your online bill payment request a specific number of days in the future.</p>
<p>You can set your Moneydance <strong>Preferences</strong> to automatically detect and <strong>Observe Online Payment Date Ranges</strong> within <strong>File --> Preferences->Network</strong>.</p>
<p>It may be useful referring to <a href="https://infinitekind.tenderapp.com/kb/online-banking-and-bill-pay/online-bill-payment">this article</a> of the Knowledge Base.</p>
<p>I hope this information is helpful. Please let me know if you have further questions or need any assistance.</p>
<p>--<br>
Maddy, Infinite Kind Support</p></div>Maddytag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-15T13:56:29Z2020-04-15T18:45:03ZPaying monthly bills<div><p>Maddy:<br>
Thank you for your response. I use Wells Fargo (which should be compatible with your services). Remember I am migrating from Quicken, which works differently.</p>
<p>I'm now thinking that any payment I enter directly to the register is only for checks I write, and will not be processed by MD to be sent out by my bank. To be sent out by my bank, I must go through the "Online Bill" process - there is no equivalent to the Quicken "send" in the Check # column of the register. Is that correct?</p>
<p>I do have "Network->Observe request..." checked. But I don't know what the "default" setting is - and I am still not clear on what date to enter if, for example, today is the 15th and I want payment sent out by the bank to arrive on the 1st of next month. Must I ask for payment 7 days before so it will be there on the 1st or what?</p>
<p>In the date column when I tried to compensate for the uncertain issues I am discussing, I changed the Date from 5/1/20 (from reminders) to today's date. This resulted in both 5/1/20 and 4/15/20 in the date col (one above the other). What does this mean?</p>
<p>Finally (and most importantly) from the Reminder calendar screen, when I click on May 1st, how do I get MD to online pay the recurring monthly charges? (It would be a severe burden to remind me, just to have me needing to go back through the one by one send online payment routine anyway). Also, how do I delete or modify a payment that is "in process"? What if I delete from the register - what happens to an online payment?</p>
<p>Many thanks and Best wishes.<br>
Peter</p></div>psilversmithtag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-15T19:16:55Z2020-04-15T19:16:55ZPaying monthly bills<div><p>Hi Peter,</p>
<p>When creating a <strong>Transaction Reminder</strong> selecting “Auto-Commit” will enter the transaction in the appropriate account register a set number of days before the transaction is scheduled.</p>
<p>If the Auto-Commit box is not checked when you create your Transaction Reminder, the transaction will not be applied to your register until/unless you manually apply the reminder, as outlined <a href="https://infinitekind.tenderapp.com/kb/reminders-2/transaction-reminders">here</a></p>
<p>Please keep us posted on your progress, Thank you!</p>
<p>--<br>
Maddy, Infinite Kind Support</p></div>Maddytag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-16T01:12:35Z2020-04-16T01:12:35ZPaying monthly bills<div><p>Does the Auto-commit actually upload the transaction to be paid like an<br>
"online payment" - or just put it in the register from which I still need to do the manual "online payment"?<br>
Thanks.<br>
Peter</p></div>psilversmithtag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-16T21:42:31Z2020-04-16T21:42:31ZPaying monthly bills<div><p>Hi Peter,</p>
<p>You can set your Moneydance Preferences to automatically detect and <strong>Observe Online Payment Date Ranges</strong> within <strong>File --> Preferences</strong>, as outlined <a href="https://infinitekind.tenderapp.com/kb/archive-moneydance-2017/archive-moneydance-2017-online-bill-payment">here</a></p>
<p>--<br>
Maddy, Infinite Kind Support</p></div>Maddytag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-16T21:57:47Z2020-04-16T21:57:47ZPaying monthly bills<div><p>I'm a fellow user.</p>
<p>As far as I am aware Moneydance will not automatically initiate a payment, personally I would regard this as a somewhat dangerous practice. So you have to initiate it. I would suggest an approach you could take is to turn off Auto commit for transactions you wish to use bill pay for. The processing function would then to be open the reminder when the software tells you it is due and use the online payment option in the reminder window to submit the payment then commit the transactions to the register.</p>
<p>I tend to think that auto commit is for those transaction that you have set up for automatic drawing or things like Wages/salary.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-17T01:26:00Z2020-04-17T01:26:00ZPaying monthly bills<div><p>Here is what I want to do. ( I don't think "auto-commit" will actually Process payments for the bank to send out, so it won't work for me.)</p>
<p>Around the 10th of the month, I want to enter the payments for the 1st of the next month - I am often away and can't get to open MD closer to the date due.</p>
<p>So, in the register I enter the date I want the payments to arrive (say May 1st); I enter the Payees ->MD recognizes the payees and fills in their amounts and the memos automatically. Fine so far.</p>
<p>Now I want to upload the payments to be processed at the appropriate time by my bank to arrive on the first of the following month. I try: OnLine Download/BillPay/SendPayment. None of these just upload the payments so that I can see a "will process" for them in the outbox. I think the payments are on the register but not at the bank for payment.</p>
<p>What I want is such a simple function - future payment date of several onLine payments. How do I get registry entries for several transactions on future dates on the register to process for bank payment from the register?</p>
<p>Thank you.</p></div>psilversmithtag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-17T02:29:14Z2020-04-17T02:29:14ZPaying monthly bills<div><p>As far as I know the only place to set the due date for payment is in the Online bill payment window when you are setting up the payment.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/482421422020-04-17T16:07:54Z2020-04-17T16:07:54ZPaying monthly bills<div><p>I've dutifully looked at knowledgebase and discussions - I really need 2 specific answers:</p>
<p>1) My Online Payment->Outbox has no "New Payment" button. How do I get it back, or its functionality from the Outbox?</p>
<p>2) When I use a "Transaction Reminder" and check "auto-commit", does that indeed automatically upload the transactions to my bank for payment on the designated date (1st of the month with 7 days auto-commit days before scheduled date) without me having to manually enter anything to have the bill paid - Yes or No?</p>
<p>Thank you for an authoritative response from IK.</p></div>psilversmith