Overview
Have you ever faced the frustration of a transaction being mistakenly linked to a Recurring Reminder in Quicken Simplifi, despite the amounts not matching? Perhaps you've encountered issues where multiple bills from the same company, set up individually in Quicken Simplifi, are incorrectly linked to reminders. We understand the hassle, and that's why we're introducing Amount Matching for Recurring Transactions. This feature empowers you to control which transactions are linked to which reminders, ensuring accuracy every time.
How Does It Work?
Imagine you have a monthly gym membership set up as a Recurring Transaction. One day, you make a small purchase at the gym, but notice later that this transaction has been linked to your larger membership fee. Similarly, if you have multiple subscriptions billed separately by a company, each set up as individual Recurring Transactions in Quicken Simplifi, you may find transactions being incorrectly linked to reminders.
With Amount Matching, you regain control. You can specify that your gym membership transaction should only match when the amount is $50, preventing other gym purchases from being linked incorrectly. For subscriptions with varying amounts, you can define specific or limited-range amounts, ensuring the right transaction is always linked to the correct reminder.
For those who prefer not to set specific amounts, the 'Auto Match' option keeps things as they were, offering flexibility to accommodate different preferences or scenarios.
Instructions
You can set Amount Matching for any existing or newly created Recurring Transaction. You can locate all of your Recurring Transactions, as well as create a new one, by selecting Settings from the navigation menu, and then selecting All Recurring if you're on the Web App or Recurring Series if you're on the Mobile App.
Once in the Create or Edit Series window, you'll see a Match Criteria field. The options are as follows:
Auto Match: This setting delegates the matching process to Quicken Simplifi, using its predefined criteria. While it attempts to select the appropriate matching based on the bill type, it may not always be accurate. Consider using specific criteria for more control.
Any Amount: Transactions with any dollar amount can be linked to the Series as long as the Payee matches. Ideal for bills like utilities or credit cards that vary in amount but consistently use the same Payee.
Exact Amount: Set a specific amount for Quicken Simplifi to use when linking transactions to the Series. Perfect for cases where the Payee is used for other expenses but the Recurring Bill remains constant.
Limited Range: Quicken Simplifi will use a 30% variance of the amount set for the Series (15% above and 15% below) when linking transactions to the Series. Beneficial for bills that may experience occasional changes, such as subscription prices changing over time.