QuickBooks Online Banking: Using Payee Alias Naming, the Bad

In my last blog, I described a QuickBooks online banking feature called Payee Alias Naming. This feature is extremely helpful by assigning multiple transaction names to one vendor, which prevents the addition hundreds of unnecessary vendors to the vendor list and allows for accurate reporting by vendor.

While creating payee aliases can save you a ton of time, it can also add frustration for the user if an alias gets assigned to the wrong vendor and populates with the wrong account information. If the user isn’t careful, quickly adding transactions from the queue into the register can inadvertently add transactions to the wrong vendor and the wrong account. Remember, correcting an incorrect transaction is a three-step process in QuickBooks!

If an alias is incorrectly added or you have inherited a QuickBooks file where there are incorrect aliases, have no fear, there is a way to fix this! Go to the vendor center and find the vendor that has the alias named to it. Click on “Edit Vendor” and then select the “Additional Info” Tab.  At the bottom, click on “Manage Aliases”.  A screen will pop up that displays all the aliases named to that vendor. You can click on the alias you don’t want assigned to the vendor.  Add a check mark next to the alias name you don’t want or select “all” if you don’t want any of the aliases and click “delete” to get rid of the aliases.  Then click “done” and “ok” to exit the edit vendor screen.

The worst and most painful alias naming error is when you get a “Check” assigned to a specific vendor. This can happen if you have written a check that was not entered into QuickBooks and then clears the bank. When you download your bank transactions and click on a transaction to be added to the register, it will prompt you to “Create an Alias” if one is not already found.  When this occurs, click “Cancel” when asked if it should be named. You can then enter the transaction normally and enter the vendor name directly. Be careful when adding transactions to the system that aren’t named from the vendor or banking institution, like “Check” and “Deposit”. If you are quickly adding transactions from the download transaction queue into the account register, this may happen.  Once again, this can be fixed.  Simply follow the steps listed above to delete the alias name and you are back in business.

I hope you will find the payee naming alias function as helpful as I have.  If used effectively, it will save you time. If you come across an alias naming error, you now know how to fix the problem and you won’t be frustrated for long.  QuickBooks has some valuable tools, and using them properly can improve your life dramatically.  Contact your local QuickBooks expert, like TGG Accounting, to learn how to implement more of them into your business.

Written by:
Bridgette Cerles
TGG Accounting
 
 
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