The description for a bank transaction in QuickBooks is created by your financial institution when the transactions are sent to your QuickBooks account.
Yes, this is precisely the problem. BMO provides identical text for all transactions! That is the problem, I process contractor payments, expense payments, payroll and dividends via EFT and _all_ of them are annotated with "Ds Deft Settlement" There is no way to distinguish between them apart from the actual dollar amount! It's as bad as the old cheque writing experience, except worse since there are no corresponding cheque images and EFTs can span multiple payees (which seems to make QBO barf, but that's another issue). Even my statements have the same nonsense. My question is who provides better information? I'm guessing every other bank is better than BMO, but then again, I've not processed EFTs with any other institution.
