Am I missing setting for auto-categorizing payees?

In this QHelp post, auto-categorizing is supposed to use categories from memorized payee list. https://www.quicken.com/support/downloaded-transactions-are-automatically-assigned-category
But this is not happening with my version. Am I overlooking a setting somewhere?
Tagged: Categories
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Answers

  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Hello @bjlaatsch

    Thank you for taking the time to visit the Community to report this issue, although I apologize that you have not received a response.

    First, please navigate to Help > About Quicken and provide the release that you are currently running.

    We'll need a bit more information to be able to isolate the cause of this issue. Are you seeing this issue one every transaction or just certain ones? If you navigate to Tools > Memorized Payee list do you have multiple lines for the same payee?

    Please let us know!

    -Quicken Tyka
    ~~~***~~~
  • bjlaatsch
    bjlaatsch Member ✭✭
    Version R32.10 Build 27.1.32.10
    It happens with multiple payees each month, even after I have them rememorized. Most are one line for each payee, but even when there are multiple lines for a payee in the memorized payee list, they have the correct category. The auto-categorization from the downloaded bank transactions "does its own thing" and ignores the categories I assigned to the memorized payee. With earlier versions this wasn't a problem; auto-categorization got it right from the memorized payee list. So that's why I'm thinking there must be a setting I'm missing in the new version. Thanks
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    "Automatic categorize transactions" doesn't come the Memorized Payee List.  It the "last resort" guess.

    The flow is:
    1. Try to match renaming rule (if Use my existing renaming rules) is selected.  This is an important step for any payee that is going to vary, because to match in the Memorized Payee List it has to be exact, except the case.  For instance to change Safeway #4343 to just Safeway.
    2. If not turned on or if the payee isn't matched by the renaming rules, and you have "Automatically apply Quicken's suggested name to payee" in the Downloaded transaction section on it will make a guess at it.
    3. If "Complete fields using previous entries" and "Recall memorized payees" are selected on the Data entry and QuickFill section it will look for a payee match and used the category in it.  Note that if there is more than one entry per payee then it becomes ambiguous of which will be selected.
    4. If #3 fails and you have "Automatic categorize transactions" selected Quicken will take guess at it.
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  • bjlaatsch
    bjlaatsch Member ✭✭
    I appreciate your help. When I say "automatic categorization," I mean any automated application of a business rule that doesn't require me to manually select a category. So all four rules in the hierarchy are doing the assignment of a category automatically. I'm sorry I created confusion by using my shorthand "automatic categorization."

    My experience with Quicken is that the rule-based hierarchy is ignoring the data I've given Quicken in my Memorized Payee list; it is not using Rule 1 even though I have a Memorized Payee list. I was unable to understand from your answer what I need to do to make Quicken link its first business rule to my Memorized Payee list so that it uses the correct expense category.

    What I think you are telling me is that I first need to create a renaming rule for each payee, and then I need to add the renamed payee to the Memorized Payee list. Do I have this right?

    Just to make sure we are both using the same set of four rules, here is the list I was given by Quicken Support:
    "To get the most out of Quicken, Quicken attempts to assign a category to each transaction. At times, when you download transactions into Quicken, they show up as uncategorized transactions. This happens when Quicken does not recognize the vendor. If you memorize or download transactions, Quicken can help to automate the process of categorizing transactions.

    "Downloaded or imported transactions are automatically assigned a category based on the following, in this order:
    1. A transaction exists in the Memorized Payee List with a matching payee name with the category.
    2. The financial institution has associated a standard industrial classification (SIC) code with this transaction.
    3. You also have the option to edit the category from the memorized payee list (Click on Tools on the top menu bar, then select Memorized Payee List) and choose the correct category. This will then memorize the payee name to the correct category on future downloads.
    4. Automatic categorization is enabled. To turn off automatic categorization:
    a. Choose Edit menu > Preferences.
    b. Click Downloaded transactions.
    c. Under During transaction download, clear the Automatically categorize transactions checkbox.

    Thanks
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I don't understand this statement:
    " I mean any automated application of a business rule that doesn't require me to manually select a category. "

    By "business rule" are you using Home & Business and there are "business rules".   I don't used Home & Business and have never heard about a "business rule".

    As far as I know there are only renaming rules, and the Memorized Payee List and Quicken's "guesses".

    As for the list from the help:
    #2 That is the "guess" I'm talking about and it only comes into play if #1 doesn't.  And it fine for "getting started", but you should quickly build up payees in the Memorized Payee List of the ones you use and as such seldom hit this.  In fact being a long time user I have turned that option off.  If a payee doesn't match one in my Memorized Payee List I rather have it come up uncategorized instead having a "guess" of that it should be.  That way it will standout when I'm reviewing my transactions, and I will assign it one, and then select Ctrl+M to memorize that transaction.

    Note that the payees entries (what the help is calling transactions) in the Memorized Payee List can get there either automatically if you have "Automatically categorized transactions" on, or if you manually memorized a transaction, or if you add one on the Memorized Payee List itself.

    If none of your payees are getting the categories filled in most likely the problem is you don't have the settings on that I mentioned in #3 of my first comment.  If only a few, then it might be a mismatch between what the payee name ends up as to what is in the Memorized Payee List.
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  • bjlaatsch
    bjlaatsch Member ✭✭
    Sorry, Chris. It seems that I am unable to draw your attention to the problem I am experiencing, and it doesn't seem that you are reading the information I am providing you to facilitate our communication when I gave you the four business rules Quicken uses for assigning categories to a transaction. What can I do to get you to focus on the problem that I am experiencing rather than a problem you apparently think I am experiencing but I'm not? I'm at a loss of what to do next to get help with Quicken, so I'm open to suggestions.
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