Repeat payee

zrepmd's Avatar

zrepmd

20 Apr, 2009 12:31 AM

What exactly is the purpose of the repeat payee? It seems like when a downloaded transaction looks for its match, you can get only 3 possible answers: no match, exact match, or "near matches" (which frequently are correct payee but incorrect dates in my experience). So what does knowing it is a repeat payee add to the equation?

Just now I downloaded a transaction I had already entered. It listed four possible options: the correct match to already-entered entry, no match, and two "repeat payee" options with correct amounts but different dates. There were no other instances of this payee in my register, so why wouldn't there be just the correct match and the no match option only?

Any further instruction on how the matching works would be great. I have read it somewhere long ago in one of the other support forums (now defunct I guess) but can't seem to find it now.

Thanks

Randy

  1. 1 Posted by Ben Spencer on 20 Apr, 2009 07:29 PM

    Ben Spencer's Avatar

    Hi Randy

    Great question!

    The purpose of the "Repeat Payee" match type is to reuse existing payee names including changes you have made to those names. in order to keep transactions more internally consistent and save the user time. For example I occasionally shop at the local grocery store called Food Lion. When these transactions are downloaded from the bank the Payee is listed as "FOODLION #0484" Where the #0484 is the store number. It is easier for me to think of this store at the Louisa County Food Lion and so I change the Payee to "FOODLION #0484 Louisa County". Now the next time I download a transaction from the bank that had the Payee of "FOODLION #0484" Moneydance matches the old payee with the new one and provides this as a match option. So by selecting "Repeat Payee" Moneydance uses the same payee changes with this new transaction. In fact the the payee, memo and category fields would be automatically set for you. The purpose of this is to save the user time if they often have similar transactions.

    Sincerely Ben Spencer

  2. Ben Spencer closed this discussion on 20 Apr, 2009 07:29 PM.

Comments are currently closed for this discussion. You can start a new one.

Keyboard shortcuts

Generic

? Show this help
ESC Blurs the current field

Comment Form

r Focus the comment reply box
^ + ↩ Submit the comment

You can use Command ⌘ instead of Control ^ on Mac