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Baabbott22
April 11, 2019
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When I download transactions, specifically a deposit, a specific payee name, not related to the deposit, is entered into the payee field where it has always been left blank in the past.

  • April 11, 2019
  • 1 reply
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When I go to my register after downloading transactions and matching, I see that on all of my deposits recently, a payee name has been entered that is not related to the deposit in any way. It is the same name every time. When I open that transaction, the correct payee is shown, so all is well accounting-wise, but I don't like having that payee being shown as having paid me money somehow.  The account line correctly shows as "Undeposited Funds" and the memo line shows "Deposit". Something about aliasing I think but I cannot figure out what to do about it.

Best answer by Joyce_P

Hello there, BaBa22.

 

QuickBooks only accepts information from the bank.  Since your bank changed their platform, this could be the reason why the payee name is incorrect. I'd suggest contacting your bank's support to get help in sorting this out.

 

Don't hesitate to post again if you need anything else.

1 reply

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Charies_M
April 11, 2019

Hello there, BaBa22.

 

I'd be happy to share with you some information about how downloaded transactions works when using a specific Bank Feed Mode in QuickBooks Desktop.

 

There is a possibility that you're in the Classic Mode, this is the reason why transactions were renamed with the incorrect payee or a specific payee name is entered into the payee field.

 

This issue occurs when downloaded transactions have generic names or description like Check, Payment, or Online transfers. QuickBooks creates rules as you enter or add the transactions then applies them to the remaining unmatched transactions.

 

I've got you an article to learn more about renaming rules for Bank Feeds in QuickBooks Desktop: Use renaming rules for Bank Feeds.

 

You may want to consider switching to Express Mode where you use the Transactions List window to add or match transactions.

 

Before switching to Express Mode, make sure yourQuickBooks Desktop is updated to the latest release and ensure you are in single-user mode. 

 

Once done, you can follow the steps below:

  1. Go to QuickBooks Edit menu.
  2. Select Preferences.
  3. On the left pane, choose Checking then go to the Company Preferences tab.
  4. In the Bank Feeds section, select Express Mode.

There you go. Should you have other questions about this, feel free to get back to me and I'll be sure to help you out.

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    Baabbott22Author
    April 12, 2019

    I had already tried using Express Mode. I found it oppressive after years of using Classic!  But did it to see how it would handle deposits, then hoping, since it handled that appropriately, that I could switch back and have things work properly in Classic Mode. NOPE! Thank you for the article. That did not seem to address my issue and I had gone down that path myself before seeing your link. I've struggle with this issue since my bank changed their platform last summer. My last resort will be to contact QB Support, but I also find that oppressive!!!  ACKKKKKKKKKKKKKKKK!!!!!!!!!!!!!

    J
    Joyce_PAnswer
    April 12, 2019

    Hello there, BaBa22.

     

    QuickBooks only accepts information from the bank.  Since your bank changed their platform, this could be the reason why the payee name is incorrect. I'd suggest contacting your bank's support to get help in sorting this out.

     

    Don't hesitate to post again if you need anything else.

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