Payee field vs Payor field (edit)
Why does Quicken use the Payee field for the name of a Payor into my account. The Payee is me but Quicken does not see it that way, why?
Best Answer
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They had to pick one term, and they picked payee, they maybe should have picked something more generic, because never payee or payor is going to be correct for all transactions. Between Payee and Payor, Payee is the better choice because you have more transactions where you pay people in most accounts, than they pay you (as long as you aren't a business).
Define Payee: A person to whom money is paid.
I paid Joann Stores 8.65.
Define Payor: Payor is a noun that means a person who pays.
It is "given" that I'm the payor of the above transaction, that is why the Payor never appears in the transaction/fields.
In the case of a deposit, you are the payee, but the payor is what is recorded because you own the account so that isn't the important part for the transaction, the payor is in this case.
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Answers
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need some details - as we have no idea what you are talking about
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They had to pick one term, and they picked payee, they maybe should have picked something more generic, because never payee or payor is going to be correct for all transactions. Between Payee and Payor, Payee is the better choice because you have more transactions where you pay people in most accounts, than they pay you (as long as you aren't a business).
Define Payee: A person to whom money is paid.
I paid Joann Stores 8.65.
Define Payor: Payor is a noun that means a person who pays.
It is "given" that I'm the payor of the above transaction, that is why the Payor never appears in the transaction/fields.
In the case of a deposit, you are the payee, but the payor is what is recorded because you own the account so that isn't the important part for the transaction, the payor is in this case.
Signature:
This is my website: http://www.quicknperlwiz.com/0
