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You may write a check to Barden Grocery every week. The first time you record that check in a Quicken register, Quicken memorizes everything except the date and check number and adds Barden Grocery to the Memorized Payee List. The next time you begin typing Barden Grocery in a Payee field, Quicken finds the associated memorized information and enters it in the register for you. You can change the information that Quicken enters—such as the amount—and then record the new transaction. Quicken saves an edits you make (such as the new amount) and updates the memorized payee template (unless you've locked the memorized payee).
How many memorized payees can I have?
The Memorized Payee List can hold anywhere from 1,000 to 2,000 transactions, depending on the size of the transactions. When the list becomes half full, Quicken notifies you that it is turning off automatic memorization. When the list becomes completely full, you can't memorize any more transactions until you delete existing ones.
If you usually make payments to many different payees, the Memorized Payee List might fill up more quickly. If this is the case, the automatic memorization feature isn't as much of a benefit to you. Consider turning it off.
For more information, see also Deleting a memorized payee.