Downloaded transactions not automatically Categorizing

Ken0315

I decided to try downloading my transactions as I started working on Quicken for income tax. My long dead mentor Mark Twain said; "Never put off till tomorrow what may be done day after tomorrow just as well." So we always delay this dreaded process.

I was able to download all of my 2021 data from my bank with just a few hoops to jump through, but now as I am re-entering payees, and they show in in the Memorized Payee list, they do not automatically enter the memo or category. I spent over an hour chatting with a very nice support person, but we never figured it out. She suggested I call in, but I want to try this first. Maybe someone else has battled this issue and conquered it.

Below are examples of what appears in the register of the downloaded transactions. I am wondering if because Category and Memo are filled Quicken thinks it is already done/??? Formatting may be off

Payee Memo Catagory
Us Capital One On-Us Check CAPITAL ONE Bills & Utilities:Credit Card Payment
ARC CHECK PYMT CK # 2086

Check 2090 On-Us Check CK # 2090 Bills & Utilities:Credit Card Payment


Priority Post Ck Priority Post Debit CK # 2092 Bills & Utilities:Credit Card Payment

Any help is appreciated.

TTSguy

Go to Preferences> check the settings under >Downloaded Transactions and in >Data Entry and QuickFill

Sherlock

If you haven't already, you may want to review: https://help.quicken.com/display/WIN/About+the+way+Quicken+suggests+categories+and+payees

Ken0315

Thank you for your comments. I checked both Downloaded Transactions and Data Entry and QuickFill There was one box not checked in Data Entry so I checked it. No change. I reviewed the link and I did not find anything there to help me. I will try to copy and forward to my son who works for an accounting firm and is better with computers than me to see if he can see if I am doing something wrong.

Been working with Quicken for 30+ years. It was such a simple program back then. Seems bloated and harder to use as each year passes. Thanks again.

UKR

The changes in Preferences do not automagically apply to already recorded transactions. You still need to fix these by hand, as needed.

If you want to stay on top of your tax situation, you need to keep using Quicken on a regular basis, daily or weekly and not just once, five minutes before midnight on tax day. This gives you a lot more time to record and fine-tune your transactions with proper tax categories.
As you record transactions throughout the year and process downloaded transactions regularly Quicken will memorize your Payee Names and their associated categories. When another transaction for the same Payee arrives, Quicken will use your definitions and you get better results.
For paper checks that you write and mail: The banks know nothing about the payee name and the category you want to use. All they have in their computers for a paper check is the check number. For best results you need to record each paper check in Quicken when you write it, with proper check number, payee and category. When the check clears the bank a few days later the downloaded transaction "Check 1234" can be matched to the already existing register transaction and you'll have good information on file.

Ken0315

We use QuickBooks for our business and never hand write checks, but for our home and our farm, my wife has always preferred to write checks. After I got your reply, I proposed that we change over and she was receptive. That is the ultimate solution also with electronic payments. Maybe this whole process will be worth it in the end. We rarely write checks in public anymore. Most prefer CC and I prefer the points. Thanks.