Renaming rules automate and standardize the names of downloaded banking transactions into QuickBooks.
Your financial institution's way of listing payee names may contain irrelevant detail, such as a store number or exact location, that differs from the way you list customer and vendor names in your company file. For example, if you purchase office supplies at Big Office Superstore, the payee name in your statement might look like "BIGOFFICESUPERSTORE#2743MAINSTANYTOWN," but in QuickBooks, you might have it entered as "Big Office," with a category of Office Supplies."
QuickBooks automatically creates renaming rules so that when you download the transaction and there is no matching entry in your register, QuickBooks will create a register transaction, give it the correct QuickBooks name, and assign it to the correct category. For example, QuickBooks might define a rule that says anytime a downloaded transaction contains "BIGOFFICE" and it doesn't match an existing QuickBooks register transaction, QuickBooks will create a new register transaction, give it the name "Big Office," and assign it to the category you have already defined for their transactions.