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Quicken Renaming Entries from Downloads

These new features of Quicken for MAC are wonderful and it continues to amaze me the increased functionality of Quicken. But with every increase in function, there is 1) an unintended challenge to use or 2) a request for a new function.

I use Quicken to follow many accounts, many of whom use the same "naming convention"--e.g.; Thank you for your auto payment". However, as best I understand the new automatic naming rules, every "account" that uses the same ACH naming convention would receive the same re-name.

Is there a way for the re-naming conventions to take into consideration of the Quicken account the ACH information came from?

As an example, imagine Quicken account Chase Credit Card No. 1 uses the ACH convention "Thank you for your auto payment", but I would want the re-name Payee to indicate "Chase Credit Card - No. 1"; then Chase Credit Card No. 2 uses the same ACH convention "Thank you for your auto payment", but I would want that to be renamed Chase Credit Card - No. 2". I do not see how this can be done at present. Please advise.

Comments

  • UKRUKR SuperUser ✭✭✭✭✭
    How about NOT relying on downloaded transactions, especially where transfers are involved?
    I get best results by recording these credit card payments as transfers when the statement comes in, using Scheduled Reminders set up for this purpose.
    On or after due date, when the transaction confirmations start rolling in, Quicken will match any downloaded transactions to what's already been recorded in the register and you end up with properly named, properly categorized transactions.

    OK, so it's a workaround. But it's better than what the banks are offering you.
    You might want to discuss this situation with your banks' upper management and see if they might be willing to change downloaded Payee Names to something more meaningful, e.g., "XYZ Card 1234 Payment".
  • JustMeHereJustMeHere Member ✭✭✭✭
    For payments (which should done as a transfer) I use exactly what UKR suggests and it works pretty well for the most part except that with my credit cards if you return items the payment amount isn't going to match the statement (or the Online Bills amount) and as such has to be adjusted and matched, so it isn't "perfect".

    But if I was going to suggest a change (and it has been suggested in the past), what I would suggest is Quicken giving the ability to customize a renaming rule by account.

    As in having another field in the renaming rule that is the account name and if it is set this renaming rule only apply to this account.

    This kind of thing pops up more than just with these payments. For instance long ago when I was foolish enough to believe I could export my Quicken data into TurboTax I noticed that the way Quicken was determining what financial institution to put on the interest given to TurboTax was the transaction payee name. So it was beneficial to have the payee name for interest payments be the financial institution name.

    Problem was that different financial institutions would use terms like "Interest Payment" for the payee, so there was no way I could do this automatically with renaming rules.

    Having the renaming rules for all accounts makes it easier, but it does have its drawbacks.
    Using Quicken Subscription Premier (and have a copy of Starter to test things on)
  • CUITCNYCUITCNY Member ✭✭
    The suggestion is Quicken give the ability to customize a renaming rule by account. As in having another field in the renaming rule that is the account name and if it is set this renaming rule only applies to this account (or all accounts). Exactly: very well put by JustMeHere. Thank you for the clarification.
  • sbarber5sbarber5 Member
    The suggested program improvement would be incredible for this purpose as many times a renaming rule would be in conflict with itself.

    I offer this as a workaround, although perhaps not ideal for all.

    For my accounts where I get/got jumbled automatic downloaded Payee names, specifically for those involved with my credit cards payments from my money market and business accounts, I have created what I call a "bucket payee."

    In this case I have created a Payee named "Autopay."

    I have went through all my accounts, statements, Downloaded Payee names ion Quicken etc and copied all the various language that was being used for those transactions.

    Memorized the bucket Payee name. Then create all your renaming rules for the various entries to the "bucket Payee."

    Now you will consistently have a single Payee in my case Autopay for all Payments. Update scheduled reminders accordingly and you can tell what is what by the Transfer category or if attached to an Online Bill.

    Hope this suggestion is helpful and happy to further clarify.
  • jacobsjacobs SuperUser ✭✭✭✭✭
    The only viable way to create a feature request which might someday be seen by the development team is to create a new post of the "Idea" type, and clearly express what the proposed new feature is. Idea posts get the blue voting box under the first post, and everyone who wants the feature needs to click the button to vote for it. If the ideas generates a fair number of votes, the moderators of this forum will pass the idea over to the developers for consideration.

    (Yes, that's neither easy nor efficient, but it's the only avenue the Quicken folks have provided for users to submit feature requests.)
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • JustMeHereJustMeHere Member ✭✭✭✭
    I have added an "idea" thread for people to vote on.

    Note I also added the same request under the Windows side because the same thing applies to it and in fact has recently come up in another thread.
    https://community.quicken.com/discussion/7869514/renaming-rules-should-allow-for-being-restricted-a-given-set-of-accounts#latest
    Using Quicken Subscription Premier (and have a copy of Starter to test things on)
This discussion has been closed.