Determining Lead Time for a Payment in Quicken
Quicken uses the delivery date to calculate the lead time required for payments, based on the specific protocols of your financial institution and the online payee involved.
Steps to Determine Payment Lead Time:
Set the Delivery Date: By default, the delivery date is set to ASAP, which prompts Quicken to automatically calculate the earliest possible delivery date, considering the required lead time for the selected online payee.
Adjust the Delivery Date: You have the flexibility to change the delivery date to any future date within the next 12 months to suit your scheduling needs.
Understand Payment Processing: Payment processing initiates on the payment processing date, which is determined by subtracting the payee’s lead time (in days) from the set delivery date. The funds are then withdrawn from your account on the actual delivery date.
Additional Notes:
- Payee Processing Time: Be aware that some payees may require an additional day or two to process payments upon receipt. To accommodate this, consider setting a delivery date a few days prior to the bill's due date. This ensures timely payment and accounts for any processing delays on the payee's end.
Screen Level Help
This help topic is designed to be accessed from a specific screen in Quicken. It is not a comprehensive topic. For more information see Send a payment using Check Pay.