I used to use Quicken 2005 for the Mac. When a transaction cleared, the name of the payer/payee that I typed was shown in the register, not the name of the payer/payee that the bank provided. So, for example, if I wrote check number 123 for $100 on January 1, 2009 to John Doe, when the check cleared, the payee field still would say "John Doe." On Quicken Online, when it clears, the payee field changes from "John Doe" to "Check 123" (depending on how the bank chooses to record it). And if I wrote another $100 check to Bill Gates around the same time, I won't know which check is which after they clear. I'm considering switching to another product for this reason alone, because I'm having serious trouble keeping track of my checks. If you could change Quicken Online to the way Quicken 2005 was configured, I would greatly appreciate it. Other solutions that would solve this problem include (1) having separate fields for user-generated and bank-generated payee-payer names, or (2) adding a memo/notes field, like you had in Quicken 2005, that remains after the transaction clears.
Thanks,
Damian
PS Please reply if you have the same concern and would like to see something done about it, to let Quicken know that multiple people feel this way.
Payee Names Change When Cleared Jul 10, 2009 06:28 am
This post is about: Quicken Online
I agree too, however, let's keep something in mind: the scenario you relayed wouldn't work in this articular product, because QO does not appear to be downloading check (or transaction) numbers separately from the payee data. If you wrote two $100 checks, one to John Doe, and one to Bill Gates, QO isn't going to know which check number was written to whom any more than you will without going back to the *separately stored* check number data. QO may not even be retrieving that field, and/or your bank may not be providing it.
Skank of America does this too. They transpose the check number into the payee field, rather than provide it separetely. They also embellish all my check card payees with the phrase "CheckCard" and an incrementing number, so QO has no way to recognize or remember my frequent check card payees unless they train their query to ignore the "CheckCard nnnn" prefix all the time. Multiply that tomfoolery by the number of financial institutions that could all be putting their own spin on payee transposition, and you begin to see that coding exceptions like that is unrealistic.
