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Saving time with memorized payees and QuickFill

From: Quicken 2014 Essential Training

Video: Saving time with memorized payees and QuickFill

Using the QuickFill and memorize payee features in Quicken can be Let me show you with this Kirkland's grocery transaction I'm entering.

Saving time with memorized payees and QuickFill

Using the QuickFill and memorize payee features in Quicken can be real time savers when entering and editing transactions in your account register. Firs,t let's talk about Quicken's QuickFill feature. This is a preset feature in Quicken that gets more powerful the more you use Quicken. Here's how QuickFill works. If Quicken can guess what you're typing in a Payee field, it fills in the rest of the field for you. The second time you use a Payee name, for example, Quicken knows that it's the second time. Quicken also figures out that, hey, some stuff from the last grocery transaction is probably going to be the same for this transaction.

Let me show you with this Kirkland's grocery transaction I'm entering. When I type the first few letters of the payee name, Quicken supplies a suggested payee name for me. After I press Tab to select the name, Quicken uses the last transaction's information to fill in all the current transaction's fields. But be careful with QuickFill. You still need to make sure that the date and the amount and any other information is correct. It's true; Food and Dining/Groceries is the correct category, but I did not spend $122.43; I spent $151.96.

If Quicken QuickFills a field with the wrong information, just replace the wrong information with the right information. Click Save when you're sure you've got it all right. Now let's discuss the memorized payee's feature of Quicken. As you enter transactions, Quicken can automatically memorize the information associated with specific payees and store this information in the memorized payee list. When you recall a memorized payee, the payee category amount and other fields are all prefilled, and you can immediately enter the transaction or edit any of the registered fields as necessary.

Here's an example of how a memorized payee can save you time. You may write a check to your lawn care provider, Yard Pros, each week. The first time you record that check in a Quicken register, Quicken memorizes everything except the date and check number and adds Yard Pros to the memorized payee list. The next time you begin typing Yard Pros in a payee field, Quicken finds the associated memorized information and enters it in the register for you. You can change the information that Quicken enters, such as the amount and then record the new transaction. Quicken saves any edits you make, such as the new amount, and updates the memorized payee template, unless you've locked the memorized payee.

Let's take a look at the memorized payee list. Choose the Tools menu and select the Memorized Payee List. There will be times when you want to edit memorized payees to make them more accurate; for instance, Quicken will sometimes make errors in how the payees are memorized when transactions are downloaded from your bank. Let's take a look at how to edit memorized payees. Select the payees that you want to change, I'll select Yard Pros. Click the Edit button. Make the edits that you want to change in any field. I'm going to change Yard Pros to a $75 fee. You can click Edit Renaming Rule to change the name of this payee when it's downloaded from the bank.

For example, if the bank downloads this is a longer name like Yard Professionals 99209, I can rename it to Yard Pros. Click OK. Note that you can also add a memorize payee manually by clicking the New Payee button on the memorize payee list. The memorized payee list can hold anywhere from 1,000 to 2,000 transactions, depending on the size of the transactions. When the list becomes completely full, you can't memorize any more transactions until you delete existing ones. If you usually make payments to many different payees, the memorized payee list might fill up more quickly.

If this is the case, the automatic memorization feature isn't as much a benefit to you. Consider turning it off. To turn on or off automatic pay memorization or QuickFill, select Preferences in the Edit menu, click Data Entry and QuickFill under register. You can use this dialogue to customize setting that affect how memorized payees are created, displayed and recalled, and how QuickFill settings work in your account register. Quicken uses the QuickFill and memorize payees features to make transaction entry and editing more efficient.

Use caution with these features to make sure you're entering the accurate data in each field of the transaction.

Show transcript

This video is part of

Image for Quicken 2014 Essential Training
Quicken 2014 Essential Training

47 video lessons · 1140 viewers

Sally Norred
Author

 
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  1. 47s
    1. Welcome
      47s
  2. 10m 45s
    1. What is Quicken 2014 Premier?
      2m 45s
    2. Defining common Quicken terminology
      2m 58s
    3. Touring the Quicken interface
      5m 2s
  3. 36m 42s
    1. Setting up your Intuit ID
      2m 54s
    2. Using the Account Bar
      2m 46s
    3. Understanding account types
      3m 59s
    4. Adding your first account
      3m 11s
    5. Updating your accounts
      3m 44s
    6. Setting up your Password Vault
      2m 55s
    7. Adding other spending and savings accounts
      5m 15s
    8. Adding investing and retirement accounts
      4m 45s
    9. Adding property and asset accounts
      2m 44s
    10. Adding loan and debt accounts
      4m 29s
  4. 42m 13s
    1. Understanding spending account registers
      4m 59s
    2. Searching, sorting, and filtering transactions
      2m 31s
    3. Downloading transactions for a specific account
      1m 53s
    4. Entering spending transactions manually
      2m 15s
    5. Understanding transaction categories
      2m 42s
    6. Categorizing transactions
      4m 37s
    7. Customizing the Category List
      3m 54s
    8. Recording split transactions
      3m 31s
    9. Transferring funds between accounts
      1m 21s
    10. Saving time with memorized payees and QuickFill
      4m 30s
    11. Reconciling accounts
      4m 8s
    12. Using the Spending tab
      2m 28s
    13. Creating and understanding spending reports
      3m 24s
  5. 20m 8s
    1. Using the Bills tab
      4m 6s
    2. Setting upcoming bill reminders
      5m 11s
    3. Setting upcoming income reminders
      4m 6s
    4. Projecting future account balances
      2m 54s
    5. Using Quicken Bill Pay
      3m 51s
  6. 24m 39s
    1. Using the Planning tab
      2m 34s
    2. Creating a budget
      5m 48s
    3. Creating a debt-reduction plan
      3m 53s
    4. Using the Lifetime Planner
      3m 32s
    5. Using the Tax Center
      3m 29s
    6. Creating savings goals
      5m 23s
  7. 18m 11s
    1. Using the Investing tab
      4m 22s
    2. Viewing your portfolio
      4m 45s
    3. Tracking your portfolio performance
      3m 10s
    4. Monitoring asset allocation
      3m 46s
    5. Creating and understanding investment reports
      2m 8s
  8. 10m 58s
    1. What is the Quicken mobile app?
      2m 51s
    2. Installing the Quicken mobile app
      3m 59s
    3. Quicken mobile app overview
      4m 8s
  9. 33s
    1. Next steps
      33s

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