Automatic Categorization based on payee and amount

I receive automatic transfers from my daughter's accounts monthly for various expenses like phone, rent, etc. When they download from my bank, the transactions go into Quicken as "Account Transfer" based on a renaming rule. Since all these transactions have the same description, I have to manually recategorize them every month. I'd like to be able to categorize them based on the Payee and the amount. For example, "Account Transfer" and $900.00 goes to Rent. "Account Transfer" and $80.00 goes to Phone. etc.

I just find the current renaming process confusing and very limited. It seems that it could be much more intuitive. If Payee contains "x" and amount (>= <) $99.99 then rename to "Y" and categorize as "Z"
2 votes

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  • UKR
    UKR SuperUser ✭✭✭✭✭
    What the bank may call a transfer from a third party's account into yours should not really be downloaded into Quicken flagged as a Transfer. In Quicken, a true transfer between two account registers which are both tracked in Quicken, will create a properly linked transfer transaction. But that's not the case here, where money comes in from an outside source.
    To solve your issue, I recommend you create and use Scheduled Reminders which contain the required category assignments. Record these reminders into your account register a day or two BEFORE the actual "transfers" from your daughter are scheduled to arrive. Next time you download from the bank, Quicken should be able to recognize the download and match it to these already existing register transactions.
    If the amount is the same every month, you could ask your daughter to just make 1 transfer for the total amount. And you would use 1 Scheduled Reminder with a set of Split transaction categories, Rent, Phone, etc. This would make things easier for you.
    Using Scheduled Reminders that way would also eliminate the need for complicated Renaming Rules.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    One way to set this up would be to create a separate Reminder for each for each transfer. You can assign a Payee and Category to reach reminder.

    If you accept the Reminders before the transactions are downloaded, Quicken should match them to the transactions that are already in your register.
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