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:

1. 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.

2. 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.

3. 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 The funds are then withdrawn from your account on the actual delivery date.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.

Quicken calculates the lead time for online payments based on the delivery date, your bank's schedule, and the specific payee's requirements.

Set the delivery date

By default, the Delivery Date is set to ASAP. This tells Quicken to choose the earliest possible date the payee can receive the payment, based on their required lead time.

You can also set a delivery date up to 12 months in the future.

How processing works

Quicken calculates a processing date by subtracting the payee’s lead time (in days) from the delivery date. This is the date Quicken sends the payment to the bank. The funds are withdrawn from your account on the delivery date.

Plan for payee processing time

Some payees need extra time to process a payment after they receive it. To avoid late fees, consider setting your delivery date a few days before the bill’s due date.