Using QuickBooks Aliases to Match Online Transactions
In Quickbooks, an alias is a way to match the payee name on an electronic payment to a vendor name in your QuickBooks company file, when the names don’t match. You can use an alias to let QuickBooks know how to match a downloaded transaction if you entered the transaction in your bank register (or your credit card account register) and the payee name in the downloaded transaction doesn’t match the payee name on the register, or if you didn’t enter the transaction in your bank register (or credit card account register) and the payee name doesn’t match an existing vendor name when you select the option Add One To Register.
It’s not uncommon for a payee name on a downloaded electronic payment to differ from the vendor name that you use in your QuickBooks company file. For example, you might have a vendor named BigBank that automatically deducts payments from your account, but the bank uses the name BB4445 (which might be your loan account number) when creating online payments. To match the payment with the correct vendor in the Online Banking Center you could change the name of your vendor to BT4445 in your QuickBooks file. However, this will only work if the only payments to this bank are for this loan. If you have multiple loans or other types of payments to this bank and you’re tracking them in different accounts, using a loan number as a vendor name doesn’t work—so you must create an alias.
Before you can create aliases you must first enable the Payee Aliasing feature in the Checking category of the Preferences dialog. To be sure the feature is enabled:
- Choose Edit | Preferences from the QuickBooks menu bar.
- Click the Checking icon on the left pane to open the QuickBooks Checking preferences, and click the Company Preferences tab.
- In the Online Banking box, check to be sure that the Payee Aliasing Is On radio button is checked. [Note: The Payee Aliasing option will not appear in the Preferences dialog unless you have enabled a bank account or credit card account for online banking.]
- Click OK to save this setting.