Fields in downloaded transactions are incorrectly matched in Quicken Canada. Affects RBC.

Question

I've posted this question before, but wasn't able to respond to questions asked.

https://community.quicken.com/discussion/7963774/fields-in-downloaded-transactions-are-incorrectly-matched-in-quicken

When downloading transactions from RBC, Quicken populates the Memo field with the information that should be in the Payee field.

For example downloading a payment to "Enbridge Gas", the memo field will have "Enbridge Gas" while the Payee field shows "Payment".

Renaming rules don't help, because they only work on the Payee field. This requires a manual correction for every item.

Is there a solution?

For info:

RBC is generating a .qfx file which is imported into Quicken. This has been an issue for as long as I've been banking with RBC. It was not an issue with my previous bank, TD.

The Quicken file is stored on locally on my PC, but in a OneDrive folder.

I was able to use the memorized payee hack suggested below to solve for this, but would need to create one for every regular payee, and that would not help with one-off payees.

https://community.quicken.com/discussion/comment/20497847#Comment_20497847

Chris_QPW · Answer

Yes, this will not solve the one-off problem.

You didn't answer my question about if the payee on RBC's site is the same, which would have a bearing on this.

Quicken Inc doesn't actually handle this, their third-party aggregator Intuit does.  Any request for a change would have to be submitted to Quicken Support which would have to ask Intuit to talk with the financial institution to get it changed.

Who would need to fix it might vary a bit depending on which connection method is being used.

For Web Connect (downloading and importing a QFX file) or Direct Connect it is entirely up to the financial institution to fill in the information in the right fields.  And there are several that feel that the payee information should be like you are showing or maybe even a really long payee name with useless stuff at the beginning and cutting off the important stuff at the end.  For these you can try to go through Quicken support and also try to convince the financial institution that they are doing this wrong directly.

Then there is Express Web Connect.  All that is said about that is that Intuit and the financial institution have an "agreement" of how Intuit should log in and get the information and what format it should be in.  If you are using this connection method, then you can contact Quicken support for them to talk to Intuit about it.

The last format is Express Web Connect +, but no Canadian financial institution supports it that I know.  If it was this format, it is like Direct Connect where all the fields are well defined and it is up to the financial institution to put the right information into each field.

I will I'm not using Quicken Windows Canada but have seen several complaints about them on this forum.

Most users don't really understand that Quicken Inc really doesn't have much control over this.

About the only thing you could suggest for Quicken itself is post an idea that Quicken should support mapping the memo to the payee based on the account and hope enough people vote on it to get it to the developers.

KDP7101 · Answer

This can work for recurring payees, but is not helpful for one-offs. It's similar to the memorized payee hack.

I understand that RBC is using a different field, but surely this is a mapping issue? Either the two companies can communicate, or Quicken can itself create a map for RBC transactions.

Chris_QPW · Answer

What does RBC put as the payee's name on their website?  Problems like this are typically with the financial institution, not Quicken.  It is what they choose as the payee's name.

Quicken can use the memo for renaming the payee if you use the "Downloaded payee name contains" option instead "Quicken name is" option and Quicken will search both the downloaded payee name and the memo for what you have entered.