From where does Quicken derive the "Payee Name" (Q Mac)

jobworker

I encountered a very strange situation with W/F bank when I did a download of transactions. I had issued a check to an individual for $230. He deposited it and my bank cleared the amount for $130, and to add to the issue, the downloaded data filled in the Payee Name with the name of an organization I had previously done business with not the individual's name. The "Quicken Name" was check which is normal but the Category was one I had never used with the organization's payments or for the individual.

I contacted the bank who are looking into the problem which is obviously theirs. I also checked my checking account with the bank using their Bill Pay and found the check whose image clearly showed the name of the individual plus the $230 amount.

The bank is pursuing their posting problem which leaves me asking the question where did the incorrect Payee Name come from in my download, from the bank or is provided by Quicken (download)?

Quicken Kristina

Hello @jobworker,

Thank you for reaching out to the Community. When you download or import transactions from your financial institution, Quicken uses the information that comes over from the financial institution to fill in the transaction information, including the Payee.

Thank you.

RickO

Additional info: The payee name can get changed by a renaming rule if there is one. They can also change based on the Setting "automatically improve the quality of payee names…" in the Connected Service section of Quicken Settings.

To see what was downloaded from the bank, click menu View > Show Inspector with the transaction selected. The bottom section of that window will show you the info downloaded from the bank including Statement Payee. Alternatively, turn on the Statement Payee column in the register (menu View > Columns).

jobworker

@RickO Another very helpful piece of advice. As long as I have been a Quicken user, more than 18 years and a tester, I have taken some Settings for granted. Bad mistake.

I sincerely thank you.

Quicken Kristina

Hello @jobworker,

Thank you for reaching out to the Community. When you download or import transactions from your financial institution, Quicken uses the information that comes over from the financial institution to fill in the transaction information, including the Payee.

Thank you.

RickO

Additional info: The payee name can get changed by a renaming rule if there is one. They can also change based on the Setting "automatically improve the quality of payee names…" in the Connected Service section of Quicken Settings.

To see what was downloaded from the bank, click menu View > Show Inspector with the transaction selected. The bottom section of that window will show you the info downloaded from the bank including Statement Payee. Alternatively, turn on the Statement Payee column in the register (menu View > Columns).

jobworker

Thanks. Very helpful information. Yes, somehow there was a Renaming Rule for the business that was if the Quicken name was check to make the Payee that business name. However, I wrote two checks for that individual on the same day and the one had check and the proper name while the other also had check and the the business name. I write a few checks to certain individuals , and have never had a problem. And in concluding, I never did create a naming rule specifying CHECK for the business, "as I recall".

Anyway, with your information, problem solved on my end as I deleted the Naming Rule. Now it is up to the bank to fix their problem. Funny that all this happened to one check, both a bank glitch and my setup.

Thanks again.

RickO

@jobworker Check in Quicken > Settings > Register toward the bottom and make sure "Automatically create…" is not checked for Renaming Rules to prevent renaming rules from being automatically created.

jobworker

@RickO Another very helpful piece of advice. As long as I have been a Quicken user, more than 18 years and a tester, I have taken some Settings for granted. Bad mistake.

I sincerely thank you.