Cannot Use Renaming Rules and Memorized Payee List for Downloading QIF Files

redherring10

In Dec 2022, in a discussion that has since been closed, a question was asked by a Community member (rdn55), specifically, "how reassign category for specific transaction? (automatically going forward)." That question was promptly answered by a regular contributor (Jim_Harman) with this reply - "You can create a Memorized Payee for Joe's bbq so whenever Quicken sees that Payee, it assigns it to Food & Dining > Restaurants or whatever."

I am a new user of Quicken (Quicken Classic Deluxe, Build 27.1.53.16 for Windows 10, subscriber) and have not been able to assign Payee and Category identifiers for imported QIF files from my bank (Bank of America). I have manually entered two years of transactions in my Checking and Visa accounts, with Categories and Payees for each transaction identified.

The Renaming Rules and Memorized Payee List are never applied when I import QIF files into Quicken. Can "Jim_Hardan," or another knowledgeable user, please provide step-by-step instructions for how to incorporate the Renaming Rules and Memorized Payees List features when I manually download QIF files from my bank?

Thank-you!

Chris_QPW

ImportQIF is compatible with any version of Quicken Windows.

redherring10

I am now a "Confirmed" member of the community!

Chris_QPW

Starting with Quicken Subscription, Quicken developers removed much of the processing for importing QIF files.

When importing QIF files Quicken has never used the renaming rules, but in Quicken 2017 and below it did use the memorized payees. QIF files used to also always go through the Downloaded Transactions tab and allow for matching existing transactions in the register, but that is all gone, they go directly into the register, but this isn't "automatic transaction entry mode either". As in the transactions will not get the New or New Match status and can't be reviewed. Strange enough they do still process the automatic transfer detection code.

I'm probably missing some more; you can see my full description of this here:

https://www.quicknperlwiz.com/quickenimportprocessing.html

You need the transactions to be in QFX format to use the full services of Quicken Subscription.

splasher

@redherring10

@Chris_QPW didn't toot his own horn directly, but he has created a program (FREE), ImportQIF, which generates a QIF file from various file types. His program does duplicate detection of the transactions that pass thru it, it will rename Payees, it will Categorize based on Payee. You can find the program on his website shown at the bottom of his post above.

It does a great job and I personally use it myself since I won't use either Express Web Connect or Express Web Connect+ download methods, so for those of my financial institutions that don't support Direct Connect or Web Connect, I use ImportQIF. I also run a copy of QW2013 in parallel to subscription for the same accounts and all of the enter in it is via ImportQIF.

The one odd thing I have to do when importing QIF files in subscription Quicken is that if I am entering a checking account payment to a credit card (one that is QIF import), I leave the category empty so that it is not considered a transfer YET. When the credit card download includes the payment and it is accepted, Quicken will ask it should match up to the checking transaction as a transfer and I tell it yes and the category is filled in as a transfer. Chris mentioned this in this post and this is how I take advantage of it.

redherring10

Splasher, Chris_QPW -

Thank-you for the advice. I have spent some time on the latter's website, but wasn't sure ImportQIF would help. I'll give it a try. For your knowledge, my bank (Bank of America - Credit, Checking and Savings accounts) does not offer a QFX download option, nor does my other credit card issuer. I have used AceMoney for years, it has an easy process for writing import rules, through which all imported transactions are processed. I am surprised that a well-developed piece of software such as Quicken would not have that basic feature. I'm also evaluating HomeBank, KMyMoney and Moneyspire apps and will see if they have import processing that can assign Payees and Categories during downloads. Unless you know already, I'll report back to you when I find out. Thanks again.

Chris_QPW

Just to clarify, Quicken Inc removed some of the processing functionality on import QIF files on purpose because they want to discourage use of that format. Full processing (renaming rules, matching memorized payees to get categories, and such) still exists with importing using the QFX format that they want to be used.

redherring10

Thank-you for that information. Don't understand how Quicken's desire to make their product more difficult for users would discourage banking and investment institutions from using QIF formats. Weird. For your and Splasher's note, Moneyspire (one-time payment for the product) and HomeBank (completely free) have very functional import filtering features, allowing them to automatically designate Payee and Category for each transaction in imported QIF files. I'll continue to play with Quicken, and ImportQIF for that matter, but I think I'm becoming more grateful I got it on sale!

redherring10

Chris - My Quicken Version is "R53.16" and its Build is "27.1.53.16." Any compatibility issue with ImportQIF 6.0.20.0? Any patches that I need to apply? Thanks.

Chris_QPW

ImportQIF is compatible with any version of Quicken Windows.