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Frequent Explorer ***

How can I create transaction rules based on 'Bank memo' field

When I download transactions from my Citibank account the 'Downloaded as' field contains the generic transaction type such as 'Debit purchase' or 'ACH Electronic Credit'. 

 

When I check the box, 'Show bank memo', I get the transaction detail that allows me to see what the transaction related to. For example it might say 'PAYPAL TRANSFER 10...' or 'CBOL Wire to Company A'.

 

How can I create rules that use a field other than 'Downloaded as'? If I could do it for the 'Bank memo' field I would be able to save a lot of time. 

 

If this isn't possible, are there any other work arounds?

Solved
Best answer 01-07-2019

Accepted Solutions
Moderator

Re: How can I create transaction rules based on 'Bank memo' field

Hey there, LosHuegos.

I can provide some insights about bank rules in QuickBooks Desktop.

 

Currently, there isn't a way to create bank rules using the bank memo field in QuickBooks Desktop. I can definitely see how this feature would be useful. As a team with a massive road-map, we have to pick new features based on the value they’ll add to the most users possible. I recommend sending this request straight to our product engineers through feedback.


Here's how:

  1. Click Help at the top.
  2. Select Send Feedback Online.
  3. Then click Product Suggestion.

The Product Development Team is constantly working to improve QuickBooks and make it even better for you as the customer. For additional help, you can always reach out to our QuickBooks Desktop Support:

 

  1. Go to: https://help.quickbooks.intuit.com/en_US/contact.
  2. Choose your QuickBooks Product.
  3. Select your QuickBooks version.
  4. On the Contact Us page, click a topic.
  5. Click on the Get Phone Number button to see the support number.

Also, you may find this article helpful: https://quickbooks.intuit.com/community/Banking-and-bank-feeds/Use-renaming-rules-for-Bank-Feeds/m-p....

 

Should you need anything else, please let me know. I'm always here to help.

23 Comments
Moderator

Re: How can I create transaction rules based on 'Bank memo' field

Hey there, LosHuegos.

I can provide some insights about bank rules in QuickBooks Desktop.

 

Currently, there isn't a way to create bank rules using the bank memo field in QuickBooks Desktop. I can definitely see how this feature would be useful. As a team with a massive road-map, we have to pick new features based on the value they’ll add to the most users possible. I recommend sending this request straight to our product engineers through feedback.


Here's how:

  1. Click Help at the top.
  2. Select Send Feedback Online.
  3. Then click Product Suggestion.

The Product Development Team is constantly working to improve QuickBooks and make it even better for you as the customer. For additional help, you can always reach out to our QuickBooks Desktop Support:

 

  1. Go to: https://help.quickbooks.intuit.com/en_US/contact.
  2. Choose your QuickBooks Product.
  3. Select your QuickBooks version.
  4. On the Contact Us page, click a topic.
  5. Click on the Get Phone Number button to see the support number.

Also, you may find this article helpful: https://quickbooks.intuit.com/community/Banking-and-bank-feeds/Use-renaming-rules-for-Bank-Feeds/m-p....

 

Should you need anything else, please let me know. I'm always here to help.

Established Community Backer ***

Re: How can I create transaction rules based on 'Bank memo' field


@RoseMarjorieA wrote:

 

 

Currently, there isn't a way to create bank rules using the bank memo field in QuickBooks


How are you supposed to make a bank rule without the bank memo?

Moderator

Re: How can I create transaction rules based on 'Bank memo' field

Hello there, @Malcolm Ziman.

 

Thank you for the quick response. I'd be happy to help share some information about bank rules.

 

Are you referring to the conditions for descriptions in the bank rule details? If so, yes you're correct. You need to enter it to make a bank rule. 

 

However, if you're referring to a written message for a specific transaction, we're currently unable to download it into QuickBooks. While the option is not yet available, I encourage you to send this suggestion straight to our product engineers through the steps provided by my colleague, @RoseMarjorieA. I'll do the same thing on my end.

 

For more details, you can also check this article about how QuickBooks handles the downloaded transactions: Add and match Bank Feed transactions.

 

That should do it. 

 

Feel free to leave a comment below if you have any other questions about bank rules or if you're referring to something else. I'll be happy to help you out.

Established Community Backer ***

Re: How can I create transaction rules based on 'Bank memo' field

No idea what you are talking about

Community Contributor *

Re: How can I create transaction rules based on 'Bank memo' field

How can you have the audacity to mark this as "SOLVED", when you did not solve the problem - all you did is tell the user to make a suggestion to another team.

 

The problem of not being able to have the Bank Memo Field used as a condition in the matching rules is ridiculous.

 

You only allow the Description Filed to be used, but on many bank statements, every debit just says something like "Debit memo", POS Purch", "DDA ACH", etc.

 

The actual information regarding who the payee was is contained in the Bank Memo Field.

 

So trying to rename the transaction based on the Description field would result in EVERY transaction being renamed to the same vendor.

 

Has anyone on any QuickBooks development team EVER actually tried to use the naming rules on a real bank statement??????

 

Would someone at Intuit PLEASE fix this system????

 

 

Community Contributor *

Re: How can I create transaction rules based on 'Bank memo' field

You can not enter it to make it a rule, because the only field it w

ill allow you to use for the "condition" is the "Description" filed that gets downloaded from the bank.

 

This information downloaded by many banks for this field is very generic, and does not provide the information that we need in order to tell QuickBooks how to treat the transaction.

 

The "Bank Memo" field DOES contain the information needed to create a rule, but QuickBooks does not offer us the choice of using the "Bank Memo" field when creating rules.

 

It only offers us numerous possibilities using ONLY the "Description" field - totally USELESS!!!

 

QB Naming Rules.png

 

QuickBooks Team

Re: How can I create transaction rules based on 'Bank memo' field

Hi sKaplan,

 

As my colleague mentioned, using Bank Memo field when creating bank rules is unavailable.

To let our engineers know this helps your banking experience, please click Gear, and the Feedback.

 

You might want to check out this article for details about managing bank rules: Tips for Working in QuickBooks Online Bank Feed: Managing Bank Rules.

 

Reach out to us anytime if you need anything else.

Not applicable

Re: How can I create transaction rules based on 'Bank memo' field

I agree that the automatic reconciliation of Bank Statements in QuickBooks is pretty much useless if you cannot use the 'Bank memo' field data to create your own predefined matching rules.

We have been using QB since 2013 and this functionality has not been added yet.

If during these 6 years the QB product manager does not think that this functionality is important, I don't know what else to think.

It would be a good idea to get a sense of when this functionality will be implemented other than just resorting to a generic "cut and paste" answer to make the problem go away. 

Anonymous
Not applicable

Re: How can I create transaction rules based on 'Bank memo' field

Hi, @Javier2.

 

I appreciate you joining this thread and sharing your thoughts about creating transaction rules based on bank memo field.

 

We don't have any updates about this request yet. I agree that having the option to enter it on a memo field is easier. 

 

I'm taking note of this and will pass it along here in my end.

 

That said, if there's something you need, please visit us again in the Community. I'll be here to help.

Established Community Backer ***

Re: How can I create transaction rules based on 'Bank memo' field


@Javier2 wrote:

I agree that the automatic reconciliation of Bank Statements in QuickBooks is pretty much useless if you cannot use the 'Bank memo' field data to create your own predefined matching rules.

 


 

 What is the difference between "Description" and "Bank memo"? I am not aware of 2 such fields in a bank file, but just the one description field, whatever it's called, in addition to date and amount

Not applicable

Re: How can I create transaction rules based on 'Bank memo' field

It normally provides additional information from the person/entity initiating the transaction.

You can display this additional field by activating the check box in the same window where you display the bank transactions. If you display this field with real-live data you will realize that it provides more rich detail of the transaction.

 

Established Community Backer ***

Re: How can I create transaction rules based on 'Bank memo' field


@Javier2 wrote:

It normally provides additional information from the person/entity initiating the transaction.

You can display this additional field by activating the check box in the same window where you display the bank transactions. If you display this field with real-live data you will realize that it provides more rich detail of the transaction.

 


This question is for QB Desktop. It sounds like you are discussing QB Online, where the bank memo is parsed by QBO.

In any case, I am taking about the file that comes from the bank, which is basically what you see on the bank statement. There is just one column with alphanumeric text. 

Community Contributor *

Re: How can I create transaction rules based on 'Bank memo' field

Maybe if the engineers actually used the product in the real world, they would understand how ineffective it is in it's current state of operation.

Not applicable

Re: How can I create transaction rules based on 'Bank memo' field

So you can use the memo for rules in QBO?

Moderator

Re: How can I create transaction rules based on 'Bank memo' field

Greetings, @lctrv.

 

I appreciate you taking your time joining this thread. Allow me to step in for a moment and share some information about using bank rules in QuickBooks Online (QBO).

 

At this time, the option to use the memo field to apply bank rules is unavailable. You can create a bank rule with a memo. However, QBO will only use the information you entered on the Conditions and Settings fields. For additional information, you can check out this article for future reference: How to set and use banking rules for downloaded transactions.

 

That should answer your concern for today. Please let me know in the comment section if you have any follow-up questions. I'm always here if you need further assistance. Take care and enjoy the rest of the day.

Community Contributor *

Re: How can I create transaction rules based on 'Bank memo' field

Here we go again - we tell you what doesn't work, and you send us back to the same old instructions for creating rules, which don't include the problem that we are having.

 

Does anyone at Intuit actually understand what we are asking for??:?"??????????

Established Community Backer ***

Re: How can I create transaction rules based on 'Bank memo' field


@sKaplan wrote:

Here we go again - we tell you what doesn't work, and you send us back to the same old instructions for creating rules, which don't include the problem that we are having.

 

 


What is the problem again?

Community Contributor *

Re: How can I create transaction rules based on 'Bank memo' field

The problem is outlined in my posts above on this thread, from about 4 weeks ago.

 

But here they are again:

   Re: How can I create transaction rules based on 'Bank memo' field

How can you have the audacity to mark this as "SOLVED", when you did not solve the problem - all you did is tell the user to make a suggestion to another team.

 

The problem of not being able to have the Bank Memo Field used as a condition in the matching rules is ridiculous.

 

You only allow the Description Filed to be used, but on many bank statements, every debit just says something like "Debit memo", POS Purch", "DDA ACH", etc.

 

The actual information regarding who the payee was is contained in the Bank Memo Field.

 

So trying to rename the transaction based on the Description field would result in EVERY transaction being renamed to the same vendor.

 

Has anyone on any QuickBooks development team EVER actually tried to use the naming rules on a real bank statement??????

 

Would someone at Intuit PLEASE fix this system????

 

 

 
 
 
sKaplan
Experienced Member
 
Re: How can I create transaction rules based on 'Bank memo' field

You can not enter it to make it a rule, because the only field it w

ill allow you to use for the "condition" is the "Description" filed that gets downloaded from the bank.

 

This information downloaded by many banks for this field is very generic, and does not provide the information that we need in order to tell QuickBooks how to treat the transaction.

 

The "Bank Memo" field DOES contain the information needed to create a rule, but QuickBooks does not offer us the choice of using the "Bank Memo" field when creating rules.

 

It only offers us numerous possibilities using ONLY the "Description" field - totally USELESS!!!

 

 

 

 
 
 
 
 
Re: How can I create transaction rules based on 'Bank memo' field

Hi sKaplan,

 

As my colleague mentioned, using Bank Memo field when creating bank rules is unavailable.

To let our engineers know this helps your banking experience, please click Gear, and the Feedback.

 QB Naming Rules.png

 

QuickBooks Team

Re: How can I create transaction rules based on 'Bank memo' field

Thanks for getting back to this thread, sKaplan.

 

Currently, the option to use the memo field to apply bank rules is not available. I understand how the feature you're looking for would be beneficial to your business. I can pass along the suggestions for you so you're able to reach a point of resolution as quickly as possible. For the meantime, you may want to consider the suggestion provided by my colleague FritzF

 

Additionally, Intuit customers have the right to mark the answers as solved if they agreed with the resolution or workaround provided by agents.

 

Please know that you're always welcome to post if you have any other concerns. The Community team will always be here to help.

Established Community Backer ***

Re: How can I create transaction rules based on 'Bank memo' field


@sKaplan wrote:

 

This information downloaded by many banks for this field is very generic, and does not provide the information that we need in order to tell QuickBooks how to treat the transaction.

 

The "Bank Memo" field DOES contain the information needed to create a rule, but QuickBooks does not offer us the choice of using the "Bank Memo" field when creating rules.

 

 


Are you suggesting there are TWO alphanumeric description fields in the bank file, in addition to date and amount?  If not,  where does the "Bank Memo" data come from?

 

 

Community Contributor *

Re: How can I create transaction rules based on 'Bank memo' field

I have no idea where it comes from in the downloaded file, but when I fist go into the routine after importing the downloaded bank feed, it simply shows "Downloaded A", which has generic terms listed, such as "DDA ACH Withdrawal", and that does not give enough information to create or use a rule.

 

I the upper section, there is a checkbox that says "Show Bank Memo"

 

QB 1.png QB 2.png

 

If you check that box, then the bank memo information shows up, but there is no way to create a rule using that information.

 

 

 

Not applicable

Re: How can I create transaction rules based on 'Bank memo' field

I've been asking to create rules based on the memo field for years... I don't think Intuit will ever implement this feature. 

Not applicable

Re: How can I create transaction rules based on 'Bank memo' field

so what your saying is that the bank download is basically useless because I will have to manually enter the payee and account of every single transaction? that is hardly a timesaver.  For what this program cost, it would seem this most BASIC and USEFUL function, would already be in place.  

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