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Payee errors when downloading

:# I keep getting an error in my payee column when downloaded items are populated. It enters the last payee for the last check I wrote, instead of the correct merchant. So when I download, is see 4 or 5 entries to the same person xxxxxxx for the amount of the purchase of a debit transaction. This seems to be isolated to one financial institution so far. I have the latest version running on windows and this started about one or two updates ago.
Thoughts???

Answers

  • Quicken Francisco
    Quicken Francisco Moderator mod

    Hello @QuikDrawl85

    Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. That's an odd issue. I'm wondering if we may be able to fix it be reconnecting your accounts to Quicken. I'll leave steps below on how to do so.

    First thing I'll recommend is to save a backup to revert back to just in case. You can find how to do so down below. 

    https://www.quicken.com/support/how-backup-or-restore-your-quicken-data

    Next we'll try deactivating all of the accounts. You can do so by following the article listed down below.

    https://www.quicken.com/support/deactivate-online-banking-services-quicken-account

    Last you'll want to go across the top to tools > add account. From there find your FI and sign in. Once signed in make sure that you link the accounts to your existing accounts so that we don't have any duplicates.

    Once you've had a chance to try this see if we're still experiencing the same issue with the FI.  If we are we can find another step to try.

    Thanks,

    Quicken Francisco


  • UKR
    UKR SuperUser ✭✭✭✭✭

    Are you relying on downloaded information to correctly fill your register transactions? If yes, in the case of paper checks which you wrote, this won't work. The downloaded info for a processed paper check does not contain the payee name (exception: the payee converted the paper check to an electronic debit. In this case, the downloaded transaction contains the payee name)
    For best results record paper checks in your register when you write them. This guarantees a correctly named and categorized transaction every time.


    Transaction download problems with matching and adding new transactions correctly

    First please ensure that all optional settings in Quicken pertaining to recall, memorization, automatic categorization and renaming of payee names are enabled. You find those settings in Edit / Preferences / Data Entry & Quickfill and Downloaded Transactions. Additional settings can be found for the detection and processing of transfer transactions in Edit / Preferences / Transfer detection.

    Are you automatically accepting downloaded transactions into your registers?

    If you are relying on Quicken to "automagically" fill your account registers from downloaded transactions, you may run into problems. Despite all efforts by the Quicken programmers, the "Autopilot" (that's my name for the part of the Quicken program which processes downloaded transactions and converts them into new register transactions) is not infallible. For that process to work 100% of the time one would need a crystal ball because the information downloaded from the banks often is just too terse and cryptic.

    You should, at least for a while, turn off the "automatically accept downloaded transactions into registers" setting to gain better control over what is downloaded and what to do with it. Review each downloaded transaction, make changes if necessary (e.g., to get a payee name = "Starbucks" instead of "POS TRANS 070119 STARBU", "POS TRANS 070219 STARBU", "POS TRANS 070319 STARBU" or to assign a category) before you click to accept each transaction.

    Any changes you make to downloaded Payee Names are remembered in Renaming Rules.

    Any other changes you make (add/change Category or Memo text) are remembered in the Memorized Payee List.

    Next time the same transaction for this Payee comes along, Quicken should remember and give you a better new register transaction.

     

    In case you have issues with transfer transactions not being generated correctly:

    For best results manually enter transfer transactions into your register BEFORE you download transactions from the bank which contain the transfer confirmations. For recurring transfers use scheduled reminders and enter them a day or two before the due date. Be sure to use distinct Payee Names for each transfer / credit card payment to avoid confusing Quicken - memorized payee entries.
    That takes the guesswork out of the Autopilot's process. Because a correctly entered transfer transaction already exists in your account registers, the Autopilot should just match the downloaded transfer transaction to the existing one in both accounts.

     

    Where are the "Auto-accept downloaded transaction" settings?

    There are two places where this is controlled in Quicken for Windows:
     - Globally, for all accounts, in Edit / Preferences / Downloaded Transactions
     - For each account individually, the global setting can be overridden from the Edit Account Details screen, Online Services Tab. Look for blue text "Automatic Entry is: ON / OFF". Click the text to change the setting.


  • MGMQcommunity
    MGMQcommunity Member ✭✭
    This may also help. Set up a "Do-Not-Rename Rule" for any downloaded transaction that contains "check". The "Do-No-Rename Rules" tab is on the Renaming Rules window.
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