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When you download transactions from your financial institution, the payees that you see in Quicken may not look the way you think they should.

For example, if you buy breakfast at Anytown Coffeehouse, the transaction might be downloaded as ATC LLC 005 PLEASANTON. This is not ideal; the payee name is not easily recognizable, and it is not consistent with other Anytown Coffeehouses you might visit. Renaming rules can fix this.

Renaming rules tell Quicken to substitute a standardized, easily recognizable payee name when a similar payee is downloaded from your financial institution.

Note: Renaming rules don't change transactions already recorded in your register; they affect only transactions that will be downloaded in the future.