nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Wrong payee information when using "Receive Payment"

Mark474

After using the "Receive Payment", I've noticed that the respective transaction in the deposit account shows the "payer" as the "payee". Why is this, and is there a fix or workaround?

Quicken Home, Business & Rental 2019

Find more posts tagged with

Comments

Sherlock

Technically, it is the payee that receives the payment and the payer that makes the payment but Quicken refers to both of these as payee. I suspect the assumption is the counter value may be deduced and therefore the field may be shared.

unknown

Can you image all the "wasted space" if in every register you had both payee and payer, where in the user should always leave one of them blank?

unknown

Maybe Mark is saying something else. Are you really talking about the field name or are you actually talking about what is in that field?

I can think of cases where one might consider it wrong. And one of those cases is a payment if that payment is a transfer.

When payments are downloaded they are very generic. Say "Withdraw" for the payee in the checking account and "Deposit" in the credit card account.

So say you setup a reminder to as a transfer from the checking account to the savings account. Then both sides of that transfer is going to have the same payee name. You can go in after it is recorded in the register and change one or both of these payee names without affecting the other side, but the default will have the payee from the reminder.

Mark474

I was referring to what is in the field. And I just checked; this is a major issue that needs to be fixed ASAP. I generated an income/spending report and it gave the wrong information. Basically, this is what Qiucken showed eventually; I've made a series of hypothetical transactions using the "Receive payment" feature, and after clearing the transactions, I generated an income/spending report. The report showed the sum of those payments I received as "expense"; and as "income" for the "customer". Now imagine what happens when you have several customers -_-

Sherlock

I was referring to what is in the field. And I just checked; this is a major issue that needs to be fixed ASAP. I generated an income/spending report and it gave the wrong information. Basically, this is what Qiucken showed eventually; I've made a series of hypothetical transactions using the "Receive payment" feature, and after clearing the transactions, I generated an income/spending report. The report showed the sum of those payments I received as "expense"; and as "income" for the "customer". Now imagine what happens when you have several customers -_-

Quicken determines whether an entry is treated as income, expense, or neither using the category field.

unknown

I was referring to what is in the field. And I just checked; this is a major issue that needs to be fixed ASAP. I generated an income/spending report and it gave the wrong information. Basically, this is what Qiucken showed eventually; I've made a series of hypothetical transactions using the "Receive payment" feature, and after clearing the transactions, I generated an income/spending report. The report showed the sum of those payments I received as "expense"; and as "income" for the "customer". Now imagine what happens when you have several customers -_-

I was referring to what is in the field. And I just checked; this is a major issue that needs to be fixed ASAP.

Not going to happen. It is only a major issue to you. This is how Quicken works.

And just to clarify what Sherlock said, each of your transactions gets a category. Each category is either set to income or expense (edit a category in the category list). Also transfers even though they are using the category field, are actually kept separate and are neither income or expense.

If the transaction is coming up in in say expense when it should be income, you are using the wrong category for that transaction.

mshiggins

I was referring to what is in the field. And I just checked; this is a major issue that needs to be fixed ASAP. I generated an income/spending report and it gave the wrong information. Basically, this is what Qiucken showed eventually; I've made a series of hypothetical transactions using the "Receive payment" feature, and after clearing the transactions, I generated an income/spending report. The report showed the sum of those payments I received as "expense"; and as "income" for the "customer". Now imagine what happens when you have several customers -_-

From C. D. Bales:

I believe QPW has identified the origin of the original poster's confusion, when he (QPW) says, " ... one of those cases is a payment if that payment is a transfer".

All invoice payments are transfers. In the case of Accounts Receivable (Customer Invoice) payments, the transfer is FROM the deposit account (typically a checking account) TO the invoice account.

The resulting pair of transactions each initially have the exact same payee name ... just as with every other Quicken transfer. As noted by QPW.

If the original poster is trying to display "income" (for a Customer), both halves of the invoice payment transfer transaction can be excluded from the report: the income is reflected in the invoice transaction itself, not the invoice payment transaction.

mshiggins

I was referring to what is in the field. And I just checked; this is a major issue that needs to be fixed ASAP. I generated an income/spending report and it gave the wrong information. Basically, this is what Qiucken showed eventually; I've made a series of hypothetical transactions using the "Receive payment" feature, and after clearing the transactions, I generated an income/spending report. The report showed the sum of those payments I received as "expense"; and as "income" for the "customer". Now imagine what happens when you have several customers -_-

From C. D. Bales:

I want to correct my previously incorrect statement in this discussion. Namely:

"In the case of Accounts Receivable (Customer Invoice) payments, the transfer is FROM the deposit account (typically a checking account) TO the invoice account".

I apologize: the direction of the above described transfer is incorrect. While the error has nothing to do with the original poster's problem; it should be corrected to prevent confusion for other users.

An invoice payment transaction is a transfer FROM the invoice account TO the deposit account.

That payment will reduce the invoice account balance and increase the deposit account balance.