Note: Learn more about the payment status icons displayed in your account register.
Pending transactions cannot be canceled or edited. Pending - This means that your financial institution has started processing your request.The amount is not withdrawn from your account. Canceled - This means that you canceled the transaction before the debit date.If you feel you made an error, you will need to first cancel the transaction and then create a new transaction. However, you cannot edit the transaction after it has been sent. At this point, you can still cancel the payment by clicking the Cancel Payment button. However, the financial institution has not started processing your request. Sent - This means that you've sent the payment instructions to your financial institution.After you send instructions to your financial institution, you can check the status of your transaction in the Edit Details panel:.
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It will be sent only when you update this account or click the Pay Now button. The transaction is saved in Quicken, but not yet sent to your financial institution. Save – Simply saves the transaction in your checking register.The amount will be withdrawn from your account only on the debit date. Your bank will then process the payment based on the pay date you selected. Note that this is just sending instructions. Pay Now - Sends the instructions immediately.You have two options to send the payment instructions to your financial institution:.In the Amount field, enter the amount you want to pay.It is important to verify both the debit date and payment date before you initiate a transaction, to avoid late payments. This means that your financial institution begins the processing by October 19, so that your payment will be received by October 23. Quicken will then show the expected debit date for that transaction. For example, if you want your payee to receive the payment by Friday, October 23 you'd click 23 on the Online Payment calendar.
The payment date is the date when your payee receives the funds.The debit date is the date when your financial institution will start processing the payment, and this is usually the date funds will be withdrawn from your account.In all cases, you need to consider two dates: However, after the first payment, your financial institution will inform Quicken whether faster processing is available for that payee. The first time you make a payment to a new payee, Quicken will assume a processing time of five business days. Note that the processing time varies by the financial institution and by the payee. Select the date when you want the payment to be received (the payment date).If this is the first time you're paying this payee, select Add new Online Payee after typing the payee name. In the Payee field, enter the payee (person or business) you wish to pay.Open the Edit Details panel and click the Online Payments tab.Go to your Bill Pay enabled checking account and add a transaction as you normally do.