Populating Memo Field

Question

How does the Memo field get populated during bank One-Step-Update if 'Downloaded Memo' field is blank? I was told by Quicken multiple things, including that it would use the Memo info from your Memorized Payee List if it is filled in.
 It is filled in, but it isn't using it, but it is using the Category from the Memorized Payee List. Please help because I have been dealing with Quicken Customer Service for over a year on this issue ... with no results.

kevinrmohan · Answer

Thank you Boatnmaniac and UKR for your responses .....
 Let me clarify ...
 I have had many interactions with Quicken Customer Service regarding this and other issues.
 Part of that was addressing the settings you both have stated to look at.

I create new register transactions via the One-Step-Update method from my financial institution. Quicken told me to check the box to "Don't update memo when downloading". They said that the Memo and the Category fields can be populated via the Memorized Payee List if I fill those in for those Payees, which I do for all my regular Payees, which is all home use for utilities, mortgage, groceries, etc. that I have been using since I started using Quicken in 2008 I believe. No bill pay. Not for business.
 It has been my experience that the Memo field from the banks are useless so I count on the Memo field in my Memorized Payee List to populate a more accurate one. There are sometimes some tweaks, but for the most part it saves me 90% manual entries.

My philosophy has always been that computers and programs are created to save human intervention and time, then people can be more productive in other things, to include utilizing the data given to them by the computers. My background: 4.5 years as a computer operator on a mainframe computer (IBM, NCR, Hewlett Packard, then IBM AS400), then Manager of Computer Operations on those systems for 32 years. I also, back in the day, have programmed in 5 different computer languages. Point is, I have experience in troubleshooting & problem solving, but I also had access to the programs and the data. I don't here so have to rely on Quicken. You two in one response have given me more help than I have received from quicken over the period of one year. This is the first time I have ever entered 'The Community'. So thanx .....

What I meant, Boatnmaniac, was that the Category field I have in the Memorized Payee List is populating the Category field of the newly downloaded transaction in the register, but the Memo field I have in that same Payee is not populating the Memo field of that same newly downloaded transaction.

At one time Quicken told me to check the box to 'Lock and leave ...' so that editing in the register won't change the Memorized Payee List, but didn't say if that meant manual edits, or auto download via One-Step-Update create/edit ... but that it WILL still use the data (memo and category) to populate the register transaction.

I guess I'm now trying to figure out how my settings (boxes checked or unchecked), whether by each account, or in the overall Preferences for all transactions, should be marked to allow for the memo field in each Memorized Payee to populate my downloaded transactions.

Thanx for your help.

UKR · Answer

Are you relying on Quicken to create new register transactions from downloaded transactions?

There also is a (relatively new) option available for each account register in Edit Account Details, Online Services tab: "Don't update memo when downloading"

Is that option turned on or off for this account?

It's my understanding that you must have created a register transaction with Memo text before downloading from the bank if you need to retain a certain Memo text in the register. When matching download to an existing register transaction, Memo remains as entered. If Memo is blank, Downloaded Memo replaces Memo.

And then the program code changed to accommodate the new option setting and I don't know what that will do now … a programmer would have to review and comment on this.

Since I'm always creating my register transactions manually or by scheduled reminder, transaction downloading only serves to spot-check my handiwork. I don't rely on Quicken to do my work for me … that's like relying on the Autopilot in driving your car while you nap.

It might be best if you recorded register transactions first, then let Quicken match downloaded data to your already existing register transaction without replacing Memo with Downloaded Memo text (or blank).

Boatnmaniac · Answer

I'm having some difficulty picturing what you mean by "It is filled in, but it isn't using it, but it is using the Category from the Memorized Payee List. "

Do you mean that the information in the Memo field for the Memorized Payee is not being entered into the transaction Memo field and instead the Category for the Memorized Payee is being entered in the transaction Memo field?

If so, there are a few things you might want to look into/try:

* Account Register > upper right Gear icon > Edit Account Details > Online Services tab > check the box for Don't update memo when downloading > OK.  Some Financial Institutions (FIs) will download their own categories for transactions and that will sometimes be entered into the Memo field.  Checking this box will prevent FI downloaded data from being entered into the Memo field.  Quicken should then be pulling in the Memo field information from your Memorized Payee, instead.
* Memorized Payee:  In the List, click on the Memorized Payee in question.  On the right side of the screen click on the Edit button.  Then select, add or delete the data that you want or do not want to be populated into downloaded transactions.   If you do not want the Memorized Payee info updated with new transactions information, be sure to check the box for Lock and leave this payee unchanged when it is edited in a register.  If you do not want the Category shown for the Memorized Payee to populate every new transaction downloaded for this Payee, check the box for Never auto-categorize this Payee for QuickFill or downloads.  The click on OK.

Let me know if this answers your question.  Or let me know if you are talking about something else and we can take it from there.