How to Set Up Memorized Payees in Quicken

Quicken Memorized Payees Tutorial

When Quicken downloads transactions, it "guesses" at what the categories should be if you do not have one or more categories set up for the payee. Setting up memorized payees in Quicken makes manually entering transactions faster and causes the correct categories to be associated with most downloaded transactions.

If you prefer to let Quicken memorize payees for you as you use Quicken, skip the set up directions and read about memorizing payees with Quicken QuickFill lower on this page.

Set Up Memorized Payees in Quicken

1. Bring up the Memorized Payee List in Quicken: press Ctrl + T or click on Cash Flow, Memorized Payee List.

2. On the bottom left or at the top of the Memorized Payee List, click on New. The Create Memorized Payee window will open.

3. Use the drop down list next to Type of Transactions to enter the type of transaction you would typically have with the payee, for example, a deposit or a payment.

4. Enter the name of the payee.

5. Use drop down list next to Category to choose the category or categories you would most likely use for this payee. For example, if the payee is a gas station you may typically use the category Auto. If the payee is a department store, you might want to select multiple categories that you would typically use when shopping there.

6. You do not have to enter an amount to create the Memorized Payee, but doing so is helpful if you usually spend the same amount for transactions with that payee.

7. Click on the Cleared check box if you want to automatically mark transactions from this payee with a cleared status.

8. Click OK.

Memorize Payees with Quicken QuickFill

It is more convenient to set up Quicken to automatically memorize payees as you use the software. Quicken will automatically memorize up to 2,000 payees. Learn how to set up Quicken QuickFill preferences to automatically memorize Payees.