Definition: Most personal finance software and small business software allows you to memorize payees to make entering future transactions with a particular payee quicker. Depending on your software, when you memorize a payee you will not not need to enter the entire payee name, category and perhaps other details in future transactions because this will be automatically entered for you.
If you need to, you can change details like spending categories for a payee in new transactions.
Examples: Quicken uses the Quickfill feature to automatically memorize payees to make future data entry more efficient.
