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Same Vendor, Multiple properties

Sunny D soony

I have Duke energy as my utility company, I have Quicken Classic Business and personal Desktop. I have set up mukltiple checking credit accounts for both personal and Business. The Duke Energy is paid autodraft from personal checking account for the personal home and for the 6 rental proeprties from tthe single business checking account. What is the proper step by step approach so that the downloaded transactions are categorized appopriately using my entries in the memorized payee list

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NotACPA

I don't understand your term "checking credit accounts". Did you actually mean "checking AND credit accounts"?

And, how detailed do you want those downloads to be? The personal expense paid from the personal account shouldn't be an issue … since that's a one-to-one match. BUT, your best option would be if you manually input it into Q when you first get the bill … and then let the download simply match it to confirm the transaction.

For the rental properties, how many bills do you get? 1? 6? And, again, input prior to download is your best option.

Sunny D soony

Thanks, Yes I meant checking and credit card accounts. when you say, "input prior to download", what do you mean? For rental properties, I get 6 Duke energy auto drafts from the same business checking account for 6 different rental properties. They get completely messed up when downloading. I tried some methods where I try to rename as Duke property A, B and matched to the last 4 digits of the account numbers that showed up in the downloaded transaction but doesnt appear to be working

NotACPA

I mean, when you get the paper bill from Duke Energy, input it manually.

But, please clarify. How are they getting "completely messed up when downloading"? Elaborate.

Because what I'm thinking is that Q has no way, other than manual input, of knowing that bill A goes with property A, etc.

Sunny D soony

I did this: I went to Edit-Preferences and made sure the appropriate boxes are checked or unchecked (see screen shot) and then go to

quicken preferences.png

Tools- Memorized Payee list -First find and delete all the old ones-Then click New payee on the bottom left corner- then its opens a new window called "Create Memorized Payee"- (see attached screen shot)- Then under "Payee name", I type it in the unique number that quicken downloads (for that, first I need to go to the transaction, click on the wheel, and click on "Review downloaded payee" and get the unique number) and then selcet Account based rule (when you click I choose only the personal checking for the Duke eneergy transaction for personal home) and then fill in the category and tags in the appropriate sections and then click on "Change Payee name" and change it what it should be like Duke-Property A, or B , etc.. Well, unfortunately this did not work ,

quicken memorized payee.png

I also tried this: I went to Tools-Renaming rules- Add a rule (see screen shot)

quicken renaming rule.png

and under the box "If Downloaded Payee name containes", I added the same unique number that quicken downloads for that transaction and then rename the downloaded payee to: ….. Well, need less to say this didnt work either! Quicken help team is essentially useless!!

NotACPA

Your 2nd & 3rd graphics are useless, as they show nothing of what you've setup.

Your "unique number" sounds like the "Financial Institution Transaction ID", which is how Q identifies duplicate downloads … it won't help to identify properties. It's different for every transaction.

Again, Q has no way of knowing which bill belongs with which property, unless you input the bill manually prior to download.

And it's not Q that's useless, it's your ineffective process, which I already told you won't work.

Sunny D soony

That process is from Quickens own website!! Thats the issue, I was showing what showed up when I click on these different buttons, but Quicken cannot answer the reasoning behind the existence of these different buttons, But once again, Its not alone in poor support or poor documentation to figure out things for ourselves!

mshiggins

Memorized Payees predate Renaming Rules.

Memorized Payees were intended to help with manual data entry, from before transaction downloading existed. They help ensure consistent payee names and their associated categories.

Renaming Rules came after transaction downloading became possible, they help to normalize the downloaded payee names to a single consistent payee name. For example, you can have a rule that changes Starbucks 1234 and Starbucks 4567 to just Starbucks.

Renaming Rules work hand in hand with Memorized Payees. For example, the Renaming Rules rename Starbucks 1234 to Starbucks and the Memorized Payee for Starbucks adds the Fast Food:Coffee Shops category to the downloaded transaction.