What are transaction payees?

Payees are one of the transaction properties that you can use. They are used to denote the merchant/institution/person participating in the transaction. So if you make a purchase at Whole Foods, you'd enter the payee as "Whole Foods" each time you buy something there. This would allow you to later generate a report to see how much you've spent in total in that shop (or combine it with other transaction properties, such as categories, to generate even more meaningful reports).

Please note that for simplicity, we are calling this transaction property Payee both for expenses and incomes. However, in both of those cases, you should use the Payee to denote the other party: the one you're paying to for expenses and the one that's paying you in incomes.

Viewing existing payees

First go to MoneyWiz Settings by clicking on the gear icon in the menu. Once you're in Settings, click on Payees section. You can see existing payees in that list. The numbers displayed on the right show how many transactions use given payee.

Creating new payees

There are two ways of creating transaction payees: during transaction entry and via MoneyWiz Settings.

Creating payees during transaction creation

To create payees during transaction creation, start creating a new transaction or modify an existing one and then type in the transaction payees field. If the payee you've typed does not exist, it will be created.

Creating payees via MoneyWiz Settings

To create new transaction payees, first go to MoneyWiz Settings > Payees as explained earlier. To create a new payee, click the New button and enter a name.

Modifying existing payees

To modify existing transaction payees, first go to MoneyWiz Settings > Payees as explained earlier. To modify a payee, just click on it.

Merging existing payees

If you decide that two or more payees don't need to be separate and you can do with just one for all transactions, you can merge them. To begin, first go to MoneyWiz Settings > Payees as explained earlier. Enter bulk-edit mode by clicking on the Edit button and select multiple payees you wish to merge (on Mac, you need to hold command key on your keyboard while clicking on them) then click on Merge. You'll be asked which payee should remain after the merge.

Deleting existing payees

If you decide that you no longer need some payees, you can delete them. To begin, first go to MoneyWiz Settings > Payees as explained earlier. Enter bulk-edit mode by clicking on the Edit button and select multiple payees you wish to delete (on Mac, you need to hold command key on your keyboard while clicking on them) then click on Delete. You'll be asked for a confirmation. If you confirm, the payees will be deleted and also removed from all transactions they were used in.

Did this answer your question?