Bank of America Bill Pay


J

John Simon

X-No-Archive: yes

I recently setup MS Money 2006 with my accounts at Bank of America (All
except CA, WA, & ID). I am able to use direct download from within Money and
it downloaded all my Payees from BofA.

However, I have a stupid problem now...

In Money, I have all my Bills set up with their due dates, etc. When I need
to make a payment, I login to BofA on the BofA website, and schedule a bill
payment via Bill Pay. Then in Money, I go to the Bills Summary page and
enter the payment.

When I update my BofA account after that, it automatically downloads the
Bill Pay payment that I scheduled on the BofA website (with the envelope and
lightning bolt icon next to it). And if I mouse over the icon, it gives me
information about the payment.

But it never syncs this payment with the one I entered in Money and so now I
have two payments showing up in Money.

Does anyone know the right way to set up payments with BofA and Money?


Thanks!
 
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J

johnbusc

John said:
When I need
to make a payment, I login to BofA on the BofA website, and schedule a bill
payment via Bill Pay. Then in Money, I go to the Bills Summary page and
enter the payment.

If you want to continue scheduling payments from the bank's site, don't
also enter the payment at the Bills Summary page. The bank will do
that for you on your next download as you've seen.

Alternately, you can abandon going to the bank's site altogether. Just
enter your bill payments at the Bills Summary page and choose
"electronic payment" as the method. Then, when you want to schedule
that payment with the bank, check the box next to that payment and
click on the "Pay Online" button. This will then transmit the payment
instruction to the bank for processing.

Hope this helps!

Regards,
JB
 
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L

Lonestar

I also do it this way!

However, in order to avoid duplicate transactions, you are going to have to
match the downloaded transaction with the one in your Bills & Transactions
Page BEFORE you accept the transaction.

After downloading the transaction:
1. Click on the downloaded transaction in the account register.
2. But, instead of clicking on "accept", click on "Change".
3. Click "Match this transaction to an item in my register."
4. Select the check box for the entry you want to match to the downloaded
bank transaction.
5. Click Done

NOTES
Previously the program always searched in the Bills & deposits page for the
transaction. Lately, it has not been doing such a good job. You might have
to set the bill to be automatically entered in your register 2 or 3 days
before the payment date. I generally do it this way.

If you compare two transactions, you cannot unmatch them later. If you
aren't sure about a match, keep the bank transaction as a new, separate
transaction.

If an entry is dimmed, it has been matched to another bank transaction.




You will then be on a page stating
 

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